Housing provident fund loans:

1, housing provident fund loans refer to housing mortgage loans issued by local housing provident fund management centers to on-the-job employees who paid housing provident fund and retired employees who paid housing provident fund during their employment.

2. Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees.

3. The housing provident fund paid by employees and the housing provident fund paid by the unit where employees work for employees are personal savings specially used for housing consumption expenses stored by employees in accordance with regulations, which belong to individual employees. When an employee retires, the balance of principal and interest is paid in one lump sum and returned to the employee himself.

4. Category: The categories of housing provident fund loans include: new housing loans, second-hand housing loans, self-built housing loans, housing decoration loans, commercial housing loans to provident fund loans, etc.

Extended data:

The main advantages of housing provident fund loans:

First, the interest rate of provident fund loans is preferential.

With the same loan amount and repayment period, provident fund loans can save tens of thousands of yuan in interest than commercial loans. Take a 400,000 house as an example, with a loan of 280,000. If the term of the commercial loan is 25 years, the monthly repayment is 172 1 yuan, and the total repayment for 25 years is 5 16300 yuan, and the total interest paid is as high as 236,300 yuan.

It is also a provident fund loan with a term of 25 years, with a monthly repayment of 1.548 yuan. The total repayment in 25 years is 464,400 yuan, and the total interest paid is 1.8444 million yuan. Compared with commercial loans, the monthly payment can be reduced by 1.73 yuan, and the interest expense can be saved by nearly 5 1.90 yuan in 25 years.

With the same loan amount and the same repayment amount, compared with commercial loans, provident fund loans not only have shorter repayment time, but also have much less repayment interest. Similarly, if the loan of 280,000 yuan is repaid with the same amount 172 1 yuan/month, the commercial loan will be repaid for 300 months, totaling 5 16300 yuan, with interest of 236,300 yuan.

The provident fund loan is repaid to 25 1 month, that is, 2 1 year, and all the principal and interest have been paid off, with a total repayment of 4,30715 yuan, and the interest paid is only 1507 15 yuan, which is 85,585 yuan less than that of commercial loans.

Second, the repayment of provident fund loans is more convenient and flexible.

Buying a house with a provident fund mortgage loan, the bank's repayment method will be more flexible than buying a house with a commercial loan. The borrower can determine the monthly repayment amount by himself, provided that the monthly repayment amount is not lower than the minimum repayment amount stipulated by the bank.

Lenders can make reasonable and feasible repayment plans according to their own economic strength, which is convenient for borrowers to arrange monthly economic expenditures. For prepayment of provident fund mortgage loan, the borrower can repay part or all of the loan principal and interest in advance without paying any liquidated damages.

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