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, private non-enterprise units, social organizations and their employees.
The definition of housing provident fund includes the following five aspects:
(1) The housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas.
(2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents and retired workers do not implement the housing provident fund system.
(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the employee's individual deposit is withheld by the unit, it will be deposited into the individual account of the housing provident fund together with the unit deposit.
(4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.
(5) Housing accumulation fund is a personal housing savings fund specially used by employees for housing consumption expenditure, which has two characteristics of accumulation and specificity.
Second, housing provident fund loans are more cost-effective than other loan methods.
At present, there are mainly the following types of housing provident fund loans: individual housing commercial loans and individual housing portfolio loans.
1, housing provident fund loans refer to housing mortgage loans issued by local housing provident fund management centers to employees who have paid housing provident fund in their own units and entrusted commercial banks to employees and retired employees who have paid housing provident fund during their employment. For residents who have participated in the housing provident fund deposit, loans to buy a house and low-interest loans for housing provident fund should be the first choice. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, which is not only lower than the loan interest rate of commercial banks in the same period, but also lower than the deposit interest rate of commercial banks in the same period. In other words, there is a spread between the mortgage interest rate of the housing provident fund and the bank deposit interest rate. At the same time, when handling mortgage and insurance related procedures, the housing provident fund loan will be charged by half.
2. Personal housing commercial loan is a kind of loan that China citizens apply to the bank for the purchase of commercial housing, and it is a self-operated loan issued by the bank with its credit funds. Specifically, a natural person with full capacity for civil conduct applies to the bank for a commercial housing loan as a loan repayment guarantee when purchasing a self-occupied house in a town in this city, with the purchased property housing (or other guarantee methods recognized by the bank) as collateral.
3. Individual housing portfolio loans refer to borrowers who meet the conditions of individual housing commercial loans. While handling individual housing commercial loans, they can apply for individual housing provident fund loans. Borrowers can apply for individual housing provident fund loans and individual housing commercial loans at the same time with the purchased urban self-occupied housing (or other bank-approved guarantee methods) as collateral.
4.20 16 benchmark interest rate for mortgage includes benchmark interest rate for commercial loans and benchmark interest rate for provident fund loans. The benchmark interest rate for 20 16 commercial loans is 4.90% for five years and above, 4.75% for one to five years (including five years) and 4.35% for one year (including one year). 20 16 the benchmark interest rate for housing provident fund loans is 2.75% for five years and below, and 3.25% for five years and above. With the same loan amount and the same repayment time, the interest rate of provident fund is about 2% lower than that of bank loans.