1 10,000 What's the difference between provident fund loans and commercial loans?
1, annual interest rate of provident fund loans
1-5 years, with an annual interest rate of 2.75%; 5-30 years, with an annual interest rate of 3.25%. This is also the annual interest rate of the first set of provident fund loans. For the second suite, increase 10%. The details are as follows: 1-5 years, and the annual interest rate of the second suite is 3.025%; 5-30 years, the annual interest rate of the second suite is 3.575%.
2. Commercial loan interest rate
The first annual interest rate in the same period is at least LPR-0.2%; The lowest annual interest rate of the second suite is LPR0.6% in the same period. According to the LPR data information released on August 20th, 2022: 1 service life of 3.65% and 5 years of 4.3%, the first set of 1 service life can be obtained, with an annual interest rate of at least 3.45%; For more than 5 years, the annual interest rate is at least 4. 1%.
If the intermediate loan is 1-5 years, then the bank loan will choose one of the two categories of "1 year" and "more than 5 years" according to the situation, and then add a little moderately to get the housing loan pricing.
3. Actual measurement
Assuming that the housing loan 1 10,000 yuan is the first set, the loan period is 30 years, and the principal is repaid in equal amount at the lowest bank loan interest rate, as follows: total loan interest 1 10,000 yuan provident fund loan = 566,742.75 yuan, about 567,000 yuan; 1100,000 commercial loans Total loan interest = 7395 14 14 yuan, which is about 740,000 yuan. If the difference is made, the difference between 1 10,000 provident fund loan and commercial loan interest is about173,000 yuan.
Annualized interest rate per application
1, spend money app
From the lowest interest rate of 7.2%, interest can be calculated on a daily basis, and it can be repaid with the loan, and there is no service charge for repaying the loan in advance.
2. Jingdong Financial app
To apply for JD.COM Gold, the minimum juvenile interest rate starts from 9. 1%, and several repayment methods such as daily interest, equal monthly principal and interest, interest first and loan later are applicable.
3, 360 loan app
The annualized interest rate is 7.2%, which can be calculated on a daily basis or repaid in installments.
4. Staged music application
If the daily interest rate is 0.03%, the calculated annual interest rate is about 10.8%, which can be divided into 36 months at the longest.
5. Zhilian Financial app
When applying for a good loan or credit payment, the annualized interest rate pricing range is between 7.3% and 23.725%, and the longest loan period is 36 months.
6. China Postal Insurance Wallet app
For the application of ultra-fast loan, the annualized interest rate pricing range includes 7.2%-23.76%, and for the application of postal savings loan, the annualized interest rate pricing range includes 10.8%-23.76%.
7. Ping An Transaction Finance app
Ping An Xiaojuhuabai loan product, with annualized interest rate of 14%-24%, supports 24-hour loan anytime and anywhere, and does not bear interest if it is not used.
8. astrological chart financial app
In fact, it was Suning's former financial industry. When applying for willful loans, the lowest one-day interest rate in 2 yuan was 1 10,000, and the annualized loan interest rate was 1.8%.
9, ants borrow Bai
According to the application of PayPal app, the minimum annual interest rate is 7.2%, and the loan can be repaid on a daily basis.
10, WeChat micro-loan
According to the application of WeChat or QQ, the daily interest rate is between 0.02% and 0.05%, and the annual interest rate is between 7.3%- 18.25%.
What is the general difference between the interest rate of provident fund loans and the interest rate of commercial loans?
The difference between provident fund interest rate and commercial loan interest rate is mainly based on the comparison of the benchmark interest rate of the central bank, and the implementation interest rate between them is not less than 1. 1 times, as the case may be.
Suppose the loan is 6,543,800 yuan, which will be paid off in 20 years with equal principal and interest repayment. If you use a commercial loan to buy a house, the interest rate is calculated at the current benchmark interest rate of 4.9%, and the borrower needs to repay 6,544.44 yuan per month, with a total interest expense of 570,665.72 yuan; If you buy a house with a provident fund loan, the interest rate is also calculated according to the current benchmark interest rate of 3.25%. The borrower needs to repay 567 1.96 yuan every month, and the total interest expense is 36 1.269.83 yuan. From this calculation result, it can be seen that if you buy a house with a provident fund loan, the borrower can pay back 872.48 yuan less every month and the total interest will be reduced by 209,395.89 yuan.
Is the interest on provident fund loans high or commercial loans high?
Generally speaking, the interest rate of commercial loans is higher, and the interest rate of commercial loans is much higher than that of provident fund loans. However, it mainly depends on the loan amount and loan period. The loan amount is high, the loan period is long, and the interest is high. It can only be said that when the loan term is the same as the loan amount, the interest of commercial loans is more.
The difference between provident fund loans and commercial loans
1, facing different apartment types
Housing provident fund loans can only be used to buy houses with 70-year property rights, and other types of houses such as commercial houses cannot apply for provident fund loans. So, please pay attention to this when you buy a house and apply for a loan. The types of houses faced by commercial loans are relatively loose, and you can apply for apartments in addition to houses.
2. The loan interest rate is different.
This is because the provident fund loan is not a policy loan for profit, so the interest rate is relatively low. Commercial loans are different. Commercial bank loans are for profit, and the interest rate is relatively high.
3. The loan amount is different
Generally speaking, if commercial loans and provident fund loans buy the same house, then the first suite of commercial loans can be loaned to 70%. The first set of pure provident fund loans can reach up to 80%.
4. Different repayment methods.
In addition, there are many repayment methods for commercial loans, which are more free and flexible on the basis of prepayment. General commercial loans can be repaid in advance every year after one year. In contrast, the repayment method of provident fund loans is relatively simple, with equal principal and interest and average capital as the main methods. In addition, provident fund loans only have one opportunity to repay in advance.
5. The approval time and organization are different.
It takes about 20 working days to approve commercial loans. Provident fund loans need about 40 jobs, mainly because the provident fund will be submitted to the bank for re-examination after review.
Commercial mortgage is mainly approved by banks, and the decision is made by banks. The provident fund mortgage needs the approval of the provident fund management center, and the decision is made by the provident fund management center, and the bank is only the executing agency.
6. Facing different people.
Commercial loans are open, as long as they meet the loan conditions. Provident fund loans need to be paid in full for more than 6 months every month, and they can only apply if they have a stable occupation and income. Compared with commercial loans, provident fund loans have higher requirements.
What is the difference between commercial loans and provident fund loans?
Look at the year you want to compare.
1. At present, the benchmark interest rate of commercial loans announced by the bank: the annual interest rate of loans from 0 to June (including June) is 4.35%, that of loans from 6 to 1 (including 1) is 4.35%, and that of loans from 1-5 (including five years) is 4.75%.
The interest rate of provident fund loans is 2.75% for less than 5 years and 3.25% for more than 5 years.
Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to national regulations, all employees who have paid housing provident fund can apply for individual housing provident fund loans according to the relevant provisions of provident fund loans.
20 12 some cities relaxed the conditions of provident fund loans, among which the upper limit of housing provident fund loans in 9 counties of Linyi City, Shandong Province was raised from 200,000 yuan to 300,000 yuan from June 1.
20 14, 10 In June, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the People's Bank of China issued a document, including relaxing the conditions of provident fund loans, promoting loans in different places, reducing intermediate costs, canceling the housing provident fund personal housing loan insurance, notarization, new house evaluation and compulsory institutional guarantee, and reducing the burden on loan workers. Among them, employees who have paid for 6 months can apply for provident fund loans (currently 12 months). On August 17 and 15, the Ministry of Housing and Urban-Rural Development jointly issued a notice saying that the down payment for purchasing a second home with provident fund loans will be cancelled by 20% from September 15 and 1 day.
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.
How much is the commercial loan higher than the provident fund loan?
The interest amount of commercial loans higher than provident fund loans is not fixed, but it can be calculated that the execution interest rate of commercial loans is generally 4.9%, and that of provident fund loans is generally 3.25%, and the loan policy is constantly changing. No matter how it changes, provident fund loans are the most favorable in policy. This is still carried out without adjustment. Compared with the total interest and monthly payment, it can save a lot. Taking the loan term of 500,000 yuan 10 year as an example, the interest on commercial loans is133,400 yuan, and the interest on provident fund loans is 8.63 yuan, which is 476,543,800 yuan higher.
1. What are the advantages of provident fund loans?
1, low interest rate
The most obvious advantage of housing provident fund loans should be the low interest rate. It can be said that the first home provident fund loan is much lower than the commercial loan. As mentioned earlier, the interest rate of provident fund loans is 3.25%, and that of commercial loans is 4.59%.
2. Preferential policies
For property buyers, the loan policy is constantly changing. No matter how it changes, provident fund loans are the most favorable in policy. For example, for the first home loan, the down payment ratio of provident fund loans is only 20%, while the down payment ratio of commercial loans is above 30%.
3. The loan issuance speed is fast.
The approval and lending speed of provident fund loans is also very fast, with no restrictions, and there is basically no need to wait in line for lending.
Second, bank credit loans.
Bank credit loan is a bank credit loan specially issued by banks for working-class people with stable income. It is a personal credit loan for personal consumption based on their monthly salary income. No guarantee, no mortgage, your credit is the best loan pass. Credit loan refers to the loan issued by the borrower's reputation, and the borrower does not need to provide guarantee. Its characteristic is that the debtor can get a loan only by his own reputation without providing collateral or third-party guarantee, and the borrower's credit degree is used as repayment guarantee. For a long time, this kind of credit loan has been the main loan method for banks in China. Because this kind of loan is risky, it is generally necessary to conduct a detailed investigation on the borrower's economic benefits, management level and development prospects in order to reduce the risk. It is mainly applicable to enterprises (institutions), legal persons, other economic organizations and individual industrial and commercial households that have been approved and registered by the administrative department for industry and commerce and conform to the general principles of loans and bank regulations.
Conditions:
1. The borrower must be a natural person who has reached the age of 18 and has full capacity for civil conduct;
2. Have permanent residence or valid residence status in China; Provide personal identification, which can be ID card, residence permit, household registration book, marriage certificate and other materials;
3. The bank's credit loan first requires the applicant to have a good credit record;
4. Have the ability to repay the loan, and provide stable proof of occupation and income source, bank flow sheet, labor contract, etc. ;
5. Can provide complete purchase contract, purchase contract, admission card, investment plan and other documents. Documents proving the purpose of the loan;
6. Provide stable proof of address, house lease contract, water and electricity bills, property management and other relevant certificates;
7. Provide valid certificates recognized by the lending institution, and provide true and valid relevant information required by the bank;
8. Other conditions stipulated by bank lending institutions.
How much cheaper can provident fund loans buy a house than commercial loans?
Buying a house with provident fund is really cheap, but it should also be calculated according to your loan time and loan amount.
According to the highest loan standard for buying a house by provident fund, the interest rate of general loans should be 3.75%, which is about half of that of commercial loans.
If calculated according to the same loan term, the loan amount is 500,000 yuan, and the possible interest of commercial loans is about 300,000 yuan, then the interest of buying a house with provident fund under the same circumstances is about13 ~140,000 yuan. Therefore, the standard of 500,000 can be cheaper16 ~170,000.
Provident fund purchase house
Extended reading:
How to buy a house with provident fund?
1. Submit a written application for housing provident fund loan to the housing provident fund management core, truthfully fill in the housing provident fund loan application form and submit the materials.
2. The core of housing provident fund management conducts a preliminary examination of the applicant's materials, including the applicant's qualification, loan amount and term. After the preliminary examination is passed, the management core issues the Notice of Collateral Examination and Evaluation. After receiving the notice of mortgage review and evaluation, the applicant will take the notice to the designated evaluation institution to evaluate the value of the house to be purchased. If you can afford it, there is no need to evaluate it.
3. The applicant has obtained the "Assessment Report, Assessment Report, Housing Fund Management Core Guarantee Entrusted Loan Investigation Notice" issued by the assessment agency. When handling the guarantee procedures, the applicant shall handle the guarantee procedures in accordance with the guarantee method of his choice with the Notice of Investigation on Entrusted Loan with Core Guarantee of Housing Fund Management.
4. Sign a loan contract. After the loan contract is approved, the applicant can sign the loan contract, and the whole process is completed. It should be noted that, under normal circumstances, applying for housing provident fund loans must meet the requirement that individual urban workers and their units must pay housing provident fund continuously for one year.
What is the difference between provident fund and commercial loan?
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.