There are generally two ways to repay the loan with provident fund:
1. annual repayment method: it means to withdraw the balance of the housing provident fund account from the entrusted bank once a year, repay the loan principal in one lump sum, and recalculate the monthly repayment amount according to the remaining loan principal and repayment period after repayment. After one-time repayment, the monthly repayment needs to use the customer's own funds, not the money in the provident fund account.
2. Monthly repayment method: refers to the method of directly withdrawing the loan principal and interest of the current month from the customer's provident fund account every month. When the amount of the withdrawn provident fund is insufficient, the client shall make up the repayment amount in time. This way can not only offset the principal and interest of provident fund loans, but also offset the principal and interest of commercial loans.
If the customer chooses the repayment method year by year, he can't choose the repayment method month by month, but only choose one of them.