Nowadays, the house price of tens of thousands has become a nightmare for many young people, so the loan to buy a house has become their first choice. Generally, if conditions permit, they will choose the provident fund loan. How to calculate the interest of provident fund loan?
1、 How much is the housing accumulation fund loan interest?
It is understood that the loan interest rate of provident fund in 2018 is as follows: according to the announcement of the central bank, the RMB loan and deposit interest rate of financial institutions will be further reduced by 0.25%. Among them, the one-year loan benchmark interest rate was reduced by 0.25 percentage point to 4.35%, and the one-year deposit interest rate was reduced by 0.25 percentage point to 1.5%. That is, the latest interest rate of provident fund loans is 2.75% for five years and below, and 3.25% for more than five years, which is the same across the country.
2、 Calculation method of housing provident fund loan interest
The exact interest of the loan needs to be calculated accurately according to the amount of provident fund loan and the loan period. Here are several interest calculation methods for provident fund loans:
1. Calculation formula of monthly interest:
Monthly repayment amount = loan principal / months of loan period + (loan principal - loan principal returned) & times; monthly interest rate
2. Calculation formula of daily interest:
Monthly repayment amount = loan principal / months of loan period + (loan principal & ndash; returned loan principal) & times; daily interest rate & times; actual days of current period
3. The actual repayment shall be based on the actual days of each month:
The equal principal and interest repayment method is to repay the same amount of loan (including principal and interest) every month during the repayment period. Because the monthly repayment amount is fixed, the expenditure of family income can be controlled in a planned way, and it is also convenient for each family to determine the repayment ability according to their own income.
Finally, the interest rate of housing provident fund is the same all over the country, so it seems fair from this point of view, but it is not too fair. For China's first and second tier cities, the price of a house is relatively expensive, but without the loan of housing provident fund, it is very difficult to buy a house in the first and second tier cities.