Calculate how much it will cost to decorate your home. Although there is no obvious upward trend in housing prices in our country, current housing prices are still stressful for ordinary people. Therefore, you will need a loan to buy a house, but ordinary commercial loan interest rates are also relatively high.
The interest rate on provident fund loans will be lower, but how much is the interest rate on Malaysian provident fund loans?
1. How much is the interest rate for provident fund loans? 1. The interest rate for provident fund loans was adjusted and implemented on October 24, 2015. The annual interest rate for provident fund loans over 5 years is 3.25%, and the monthly interest rate is 3.25% divided by 12. For loans under 5 years, the annual interest rate is 3.25%.
The annual interest rate of provident fund loans is 2.75%.
Later, the central bank adjusted the benchmark interest rate for provident fund loans. The annual interest rate for provident fund loans over 5 years is 4%, and the annual interest rate for provident fund loans under 5 years including 5 years is 3.5%.
2. The calculation method of equal principal and interest repayment method for provident fund loan interest is: ① Monthly payment amount = [Loan principal * monthly interest rate * (1 + monthly interest rate) ^ number of repayment months] / [ (1 + monthly interest rate)
^Number of repayment months - 1] ② Monthly interest payable on a provident fund loan = loan principal * monthly interest rate * [(1 + monthly interest rate) ^ Number of repayment months - (1 + monthly interest rate) ^ (repayment month number -
1)]/[(1+monthly interest rate)^number of repayment months-1]③Monthly repayment principal of provident fund loan = loan principal*monthly interest rate*(1+monthly interest rate)^(repayment month number-1
)/〔(1+monthly interest rate)^number of repayment months-1〕④Total interest = number of repayment months*monthly payment amount-loan principal 3. To calculate the loan amount of provident fund, you need to use the repayment ability
, property price, loan maximum limit, and housing provident fund account balance. The minimum value calculated based on these four conditions is the maximum loan amount: ① Calculation of loan capacity: loan amount = [(monthly salary of borrower or spouse)
The total amount + monthly housing provident fund payment amount of the unit where the borrower or spouse works) * loan repayment ability coefficient 40% - monthly loan repayment amount of the borrower or spouse's existing loan] * 12 (months) * loan term.
Total monthly salary = monthly provident fund payment / (unit contribution ratio + individual contribution ratio) ② House price calculation: loan amount = house price * loan ratio.
③ Calculation of the maximum loan limit: If only an individual has paid provident fund, the maximum loan limit is 500,000 yuan.
If you and your spouse both contribute to provident funds, the maximum loan limit is 700,000 yuan.
④ Calculation of provident fund account balance: provident fund loan amount = balance of provident fund account of borrower and loan participant * 20.
Editor's summary: The above is the article shared by the editor today about the interest rate of provident fund loans. I hope the article shared by the editor can help everyone.