One-time repayment method: withdraw the balance of the provident fund from the housing provident fund account and make one-time repayment. Many people repay their loans in this way after retirement. After repayment, if there are still outstanding loans, the remaining loan principal and repayment period will be recalculated to determine the future monthly repayment amount.

Stop repaying the loan for several months: withdraw the balance of the provident fund account and repay the loan in advance. After repaying the loan in advance, the lender may stop lending for several months. (The time to stop repayment depends on the amount of repayment in advance, but it cannot exceed 12 months. After the repayment period ends, the lender shall continue to repay the loan on a monthly basis.

The interest owed during the suspension period is not subject to penalty interest or compound interest, and will be deducted from the monthly repayment after the suspension period. Some property buyers have changed their income at a certain stage (such as illness, childbirth, unemployment, etc.). ), and they often use this way to repay the loan.

Monthly repayment method: directly withdraw the provident fund from the provident fund account every month to repay the loan. When the amount of housing provident fund withdrawn is insufficient, the lender shall make up the repayment amount in time.

Extended data

Liquidated damages for prepayment of commercial loans

China Merchants Bank

If the prepayment is less than one year, the interest not less than the actual repayment amount for three months will be charged.

If the repayment is made in advance after one year, the interest not less than the actual repayment amount will be charged for one month.

China construction bank

If the prepayment is less than one year, 3% of the prepayment amount will be charged.

If the loan is repaid in advance for one to two years, 2% of the prepayment amount will be charged.

The loan is repaid in advance for two to three years, and one percent of the prepayment amount is charged.

agricultural bank

If the prepayment is less than one year, it will be charged according to the principal multiplied by the monthly interest rate, that is, the loan interest rate divided by 12 months minus the repayment months.

Repay the loan in advance after one year, as long as there is no record of prepayment before, there will be no penalty. If the repayment has been made in advance, the applicant will not be fined if he applies again one year later.

Refer to Baidu Encyclopedia-Personal Housing Provident Fund Loan

References: Phoenix. Com- the new rules of provident fund that you need to know when buying a house: parents can be the same borrower.