Loan interest rate:
The benchmark interest rate of commercial loans is 6. 15%, and the interest rate of provident fund loans for more than 5 years is 4.25%.
Loan share:
For the same house, if the first commercial loan can be 70%, then the first pure provident fund loan can be 80%.
Loan process:
Commercial loans should be reviewed before transfer, and provident fund loans should be reviewed after transfer.
Marking time:
Commercial loans take about 20 working days, and provident fund loans take about 40 working days. Commercial loans are faster than provident fund loans.
Loan source:
Commercial loans mainly come from social public funds raised by commercial banks and other lending organizations, while provident fund housing loans are funds paid by provident fund collectors.
Use the crowd:
Commercial mortgage is open to all eligible people, while provident fund loans are only open to provident fund payers.
Use of interest:
The interest of commercial mortgage is the surplus of commercial behavior and belongs to relevant investors, while the interest of provident fund is useful in policies and rules and can only be used for the construction of affordable housing.
Review organization:
Commercial mortgage is first approved by the bank, and the bank makes a decision; Provident fund mortgage needs to be reviewed by the provident fund management center, which makes a decision. Banks only execute organizations.
What is the provident fund for?
The provident fund is actually a "reservoir" jointly paid by units and individuals. This large pool of funds is to deposit funds to help everyone buy a house together. You can understand that the public will take some money to accumulate as savings, so that everyone can use cheap mortgages when buying a house.
In fact, this is also the cheapest loan fund that ordinary people can access. We must make good use of our provident fund loan opportunities.
The term of provident fund loans is generally not more than 30 years, and the sum of the loan term and the applicant's age at the time of applying for loans is not more than 70 years, which means that loans before the age of 40 can basically apply for the longest term. Of course, the final quota and deadline still have to be approved by the bank counter.
Provident funds are mainly used for two purposes, one is provident fund loan business, and the other is withdrawal and use.
Provident fund loan interest rate:
The interest rate of provident fund loans is about 60% of commercial loans. With the same money, you can save a BMW 5 Series in 30 years.
Even if you have enough cash on hand to buy a house, you can still apply for a provident fund loan. With cash financing, as long as the yield is higher than the loan interest rate of 3.25%, it is pure profit.
Therefore, the provident fund loan is a very important invisible welfare. This is why some people prefer to pay less and go to work in units with provident fund deposits.
Provident fund loan interest rate and commercial loan interest rate?
For the commercial loan interest rate, please log on to the official website of Bank of China (), click Financial Data-Deposit/Loan Interest Rate in the right of the home page, and select the loan interest rate table according to the currency for inquiry. The interest rates of various loan products will be different. For details, please consult the local branch of Bank of China.
Please consult the local housing provident fund management center for the interest rate of provident fund loans.
The above contents are for your reference. Please refer to the actual business regulations.
Provident fund loan ratio 1: How much?
According to relevant regulations, the proportion of provident fund loans is generally 1: 10 to 1:20, which means that the amount we can borrow is generally 10 to 20 times the balance of provident fund.
According to the actual situation, the amount of provident fund loan for buying a house is usually 15 or 20 times the balance of provident fund loan. If the husband and wife borrow the same loan, the loan amount is 15 or 20 times the sum of the husband and wife's provident fund accounts. However, there are three main factors that affect the amount of provident fund loans, as follows.
1 Repayment ability: Generally, provident fund loans will judge our repayment ability through the proof of work income provided by us, so as to adjust the loan amount.
Transaction price: Whether handling commercial loans or provident fund loans, borrowers need to pay part of the down payment first, and the rest can handle provident fund loans. Generally, the down payment ratio of the first home provident fund loan is at least 30%. For example, if the total house price is 6.5438+0 million, the lender needs to pay at least 300,000 down payment, and the remaining 700,000 can be used for provident fund loans.
3 loan amount: there are also restrictions on provident fund loans. Not all loans can be made with a down payment, but the amount of provident fund loans in different cities will be different.
In short, the specific loan ratio should be comprehensively calculated according to the borrower's other conditions, which will not only be affected by the loan ratio of provident fund, but also be adjusted according to our repayment ability, house price, loan ceiling and other factors.
Provident fund loans refer to individual housing provident fund loans, which are issued by local housing provident fund management centers. With the housing provident fund paid by employees who apply for provident fund loans, commercial banks are entrusted to provide mortgage loans to housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who pay housing provident fund during their working life. According to the regulations, employees who have paid housing provident fund for a certain number of years or more (the number of years varies from city to city, such as 12 months or more in Changsha) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.
The loan conditions are: the employees of the unit have signed labor contracts for more than three years (or signed 1 year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit exceeds a certain period; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle the mortgage registration and insurance; Provide the guarantee method agreed by the local housing provident fund management center and its sub-centers; At the same time, submit relevant documents required by the bank, such as house purchase contract or house pre-sale contract, real estate license, land use certificate, deposit certificate of provident fund, etc.
Letter of credit clause
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.
2. To participate in the housing provident fund system, if you want to apply for a housing provident fund personal purchase loan, you must also meet the following conditions: that is, the housing provident fund has been continuously paid for at least 6 months before applying for the loan. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.
3. One of the husband and wife has applied for a housing provident fund loan, and neither of them can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is risky to lend to housing provident fund, which violates the principle of safe operation of housing provident fund.
5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan conditions of provident fund loans and commercial housing loans must be the same.
Which interest rate is lower, provident fund loan or commercial loan?
Compared with commercial loans, the interest rate of provident fund loans is lower. The interest rate of individual housing provident fund loans was last adjusted from 2065438 to 26 August 2005. The latest interest rate of provident fund loans is 2.75% for five years or less and 3.25% for more than five years.
The last interest rate adjustment by the central bank was 2065438+2005 65438+124 October, but only the commercial loan interest rate was adjusted, and the benchmark interest rate for more than five years was reduced to 4.9%, but the provident fund was not adjusted.
Policy sources
The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124, to further reduce the social financing costs. Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to1.5%; The benchmark interest rates of other loans and deposits and the lending rates of the People's Bank of China to financial institutions are adjusted accordingly; The interest rate of individual housing provident fund loans remains unchanged.