Now, the five insurances and one fund paid by the unit or the five insurances and one fund paid by the individual refers to the housing provident fund. When you need to buy a house, this housing provident fund will play its role. To buy a house, you can apply for prepayment for commercial loans. Provident fund loans can also be prepayed. What is the prepayment process of provident fund loans? First of all, there are two ways to repay the loan in advance with the provident fund: repay all the loan in advance and repay part of the loan in advance. This article will tell you about the process of repaying the loan in advance with the provident fund.
Prepayment conditions of provident fund loan
1. The repayment time is more than one year;
2. The applicant is not overdue under the current status;
3. The previous prepayment has not been approved, so a new application cannot be made;
4. In case of unsuccessful deduction due to insufficient balance in the repayment account, it is necessary to apply again.
Prepayment procedure of provident fund loan
First, provident fund loan repayment in advance is divided into two ways: full repayment in advance and partial repayment in advance.
1. One time repayment of principal and interest;
(1) Applicants can call the hotline of the provident fund management center to inquire about their remaining balance amount and make an appointment for the amount of prepayment;
(2) First, the payer shall apply for prepayment, fill in the application for prepayment of housing provident fund loan of housing provident fund management center or the application for prepayment of part of housing provident fund loan of housing provident fund management center, sign and provide the required materials;
(3) Approval of the entrusted bank;
(4) Approval of provident fund management center;
(5) Go to the bank to repay the loan principal and interest;
(6) Send the prepayment form to the provident fund center for filing.
2. Repayment of partial loan principal
(1) The borrower calls the provident fund management hotline, inputs the amount you intend to prepay according to the voice prompt, and makes an appointment for repayment;
(2) When applying for prepayment, the payer shall fill in the application for prepayment of housing provident fund loan of housing provident fund management center or the application for prepayment of part of housing provident fund loan of housing provident fund management center, sign and provide the required materials;
(3) Determine the amount of prepayment and the date of prepayment;
(4) Approval of the entrusted bank;
(5) Approval of provident fund management center;
(6) Go to the bank to repay part of the loan principal;
(7) Send the prepayment form to the provident fund center for filing.
Information required for prepayment of provident fund loans
1. ID card of the lender;
2. Repayment passbook;
3. Application for prepayment of housing provident fund loan of XX housing provident fund management center or application for prepayment of part of housing provident fund loan of XX housing provident fund management center shall be signed and sealed.
Is it cost-effective for provident fund to repay the loan in advance?
The prepayment of housing provident fund should be determined according to your own situation. If you don't have a better investment way and have more spare money on hand, you can choose to prepay. After all, prepayment can pay a lot of interest less than the original loan plan; Another important point is that compared with the prepayment of commercial loans, there is no handling charge or liquidated damages for the prepayment of provident fund, which is equivalent to saving some additional expenses. Therefore, using idle funds to repay the loan in advance of provident fund is a good way to save money.
However, if you repay in advance, it is bound to reduce the working capital. If you encounter good investment channels or other situations in urgent need of funds, you may be short of money. For example, some buyers rush to repay all the loans within a few years after the loan. As a result, a large amount of expenditure is needed for house decoration after the purchase, In order to decorate, I have to go to the bank to apply for consumer loans. Under the premise of the same loan amount, the interest expenditure of such loans is much greater than that of provident fund loans. Therefore, whether the housing provident fund should be repaid in advance should fully consider a variety of factors and act according to my ability.
[precautions]
It should be noted that as long as the provident fund prepayment meets the conditions and the materials are complete, the handling is still very smooth. However, provident fund prepayment can only be applied for if the provident fund loan has been successfully loaned and the repayment time is more than one year and the applicant is not overdue under the current state. In addition, for those who apply for partial repayment in advance, the minimum amount of each repayment shall be 10000 yuan, which shall not be less than the loan principal and interest amount of 12 months, and the repayment shall be limited to once a year. Borrowers who normally repay for more than one year can also withdraw the balance in the housing provident fund account to repay the loan in part or in full, but only once.
Secondly, the prepayment of provident fund is not as complex as commercial loans, and the operation is relatively simpler and convenient. For partial prepayment, the borrower can call the provident fund management hotline, enter the amount you intend to prepay, and go to the provident fund management center to handle it; If the one-time repayment is clear, the borrower needs to go to the housing provident fund management center and apply for an appointment with the housing provident fund management center with his ID card. The provident fund management center will handle it for the borrower one by one according to the borrower's requirements and the deposit bank policy of the provident fund memory card. Generally, the appointment time is as short as a few days, It can be handled within one month.
[related questions and answers]
1. Is there a limit on the number of 'prepayment' of provident fund loans? Are the policies of all localities and banks the same? My is the provident fund loan of Everbright Bank. How many times can I 'prepay'?
[answer] there is generally no limit on the number of prepayments of provident fund loans.
2. Does CCB need liquidated damages for prepayment of provident fund loans?
[answer] it depends on whether there is an agreement in the contract. If it is agreed that liquidated damages shall be paid for prepayment, it shall be handled in accordance with the provisions of the contract.
3. How many days does it take to apply for early repayment of the loan to CCB?
[answer] CCB can repay the loan in advance by half a month at the earliest and one month at the longest. Generally, the prepayment is one-time and must be applied for more than one year.