The provident fund is a benefit provided by the employer to the employee after the employee works for the employer. The employer and the employee deposit the provident fund account in proportion to be used for future housing consumption or housing loans. However, there are certain requirements for applying for a provident fund loan.
It is time-limited and cannot be withdrawn at will under any circumstances. So how long does it take to pay the housing provident fund before you can get a loan to buy a house? Next, I will sort out the relevant content for you.
1. How long does it take to get a loan to buy a house after paying the housing provident fund? (1) If the housing provident fund is paid by the unit, it must be paid in full for 6 months before the housing provident fund loan can be used to buy a house; (2) If the housing provident fund is paid by an individual, the housing provident fund must be paid in full for 6 months.
You can use the housing provident fund loan to buy a house after one year of payment.
(3) Employees who have paid housing provident fund in full for more than 6 months (inclusive) may apply for a housing provident fund personal housing loan.
For those who have paid housing provident funds in other places and paid in the current place of deposit for less than 6 months, the payment time can be calculated based on the payment certificate issued by the housing provident fund management center of the original place of deposit.
2. Conditions for housing provident fund loans to buy a house. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.
Those who participate in the housing provident fund system must also meet the following conditions when applying for a housing provident fund personal home purchase loan: that is, they must have continuously paid and deposited housing provident fund for no less than six months before applying for a loan (different locations).
If one spouse applies for a housing provident fund loan, neither spouse can obtain another housing provident fund loan until the principal and interest of the loan are repaid.
When a loan applicant applies for a housing provident fund loan, in addition to having a relatively stable economic income and the ability to repay the loan, the loan applicant must have no other outstanding debts with a large amount that may affect the repayment ability of the housing provident fund loan.
3. How to calculate the interest on early repayment of housing provident fund loans? The interest on early repayment of housing provident fund loans is calculated as follows: The interest paid when repaying the loan in advance is the portion of the loan principal that is repaid in advance from the interest settlement date of the previous month to the early repayment date.
Calculate interest.
After the loan is repaid in advance, interest will no longer be calculated on the repaid portion of the loan. The monthly loan interest after the loan is repaid in advance will be calculated based on the remaining loan principal and the monthly loan interest rate.
For example, if the loan period is 5 years (120 months).
At the end of the 119th month, you pay off the funds, and the repayment amount is the current remaining principal amount + the interest for the month of repayment, and you get the total repayment amount.
According to the provident fund loan monthly repayment calculation formula, the provident fund loan deduction principle is exactly the same as the bank consumer loan deduction principle. Provident fund loan interest is calculated on a monthly basis, and the loan interest deducted each month is the interest generated on the loan for that month.
The above is all about how long it takes to pay the housing provident fund before you can get a loan to buy a house.
Certain conditions are required for providing provident fund loans, so you must pay more attention to them.