China News Service Client, Beijing, July 2 (Peng Jingru) The Beijing Housing Provident Fund Management Center recently issued a notice to facilitate the applicant's loan repayment and increase the method of withdrawing loan repayments, which will be implemented from July 1. The borrower can apply to use his housing provident fund account funds to directly repay the housing provident fund personal housing loan.
Where is the convenience?
Provident fund repayment of loans means that the depositor can apply for the balance in the personal housing provident fund account to offset the principal and interest of the personal housing provident fund loan when handling the housing provident fund loan.
Similar to the agreed repayment of credit cards, when using the provident fund to repay the loan, the borrower authorizes the housing provident fund management center to automatically deduct the balance of the housing provident fund account payment on the agreed deduction date to offset the total repayment of the loan in the current period. .
A notice issued by the Beijing Housing Provident Fund Management Center on June 30 shows that from July 1, 2020 (inclusive), the housing provident fund personal housing loan borrower that is accepted can apply for the repayment date stipulated in the contract in January and July of each year. Use my housing provident fund account funds to directly repay the loan.
Data Map: A real estate building just completed. China News Agency reporter Zhang Binshe
The convenience of the loan repayment is that this repayment method reduces the intermediate link of housing provident fund withdrawal.
For example, Mr. A's provident fund is paid on the 10th of each month, and the 20th of each month is the repayment date of his housing provident fund loan. Before, Mr. A needed to regularly withdraw the deposit amount in the provident fund account and transfer it to the designated bank account for repayment. After adding the loan repayment business, the money in Mr. A's provident fund account will automatically repay the loan, and no longer need to withdraw to the fixed account to repay.
How to apply?
In terms of processing channels, the borrower can apply for the loan repayment business at the same time when signing the loan loan contract, or it can be processed at various business outlets in Beijing after the loan is issued. It is recommended that the borrower handle it when signing a loan contract to reduce the number of runs.
In terms of time, the offset date is the repayment date stipulated in the contract in January and July of each year. For those who meet the conditions for offset, withdraw funds from the borrower’s housing provident fund account for offsetting. If both the borrower’s husband and wife meet the offset requirements, the principal borrows first Offset from the housing provident fund account of the individual, and then from the housing provident fund account of the joint borrower.
In addition, the lower limit of offset is the agreed repayment amount. When the agreed repayment amount is higher than the sum of the remaining loan principal, interest, and penalty interest or the last period of the loan, the remaining loan principal, interest, and penalty interest shall be offset. The borrower's housing provident fund account retains 10 yuan. If the offset fails, the current month’s repayment amount will be fully deducted from the repayment account reserved by the borrower in accordance with the loan contract.
Data map. China News Agency reporter Tuobo
For example, on August 10, 2020, the Beijing Housing Provident Fund Management Center issued a loan of 1.2 million yuan to Borrower B. On January 10, 2021, the balance of Borrower B's housing provident fund account was 15010 yuan, and the agreed repayment amount was 10,000 yuan. In accordance with the rules for repayment of loans and offsets, 15,000 yuan was offset on the day, and the extra 5,000 yuan was used to repay the principal, but the borrower's housing provident fund account must be kept at 10 yuan. However, if the balance of Borrower B's housing provident fund account is 9810 yuan, which is less than the agreed repayment amount of 10,000 yuan, the loan repayment fails on the same day, and the agreed repayment amount will be deducted from the reserved repayment account of 10,000 yuan.
What should I pay attention to?
On the one hand, we must pay attention to whether we have established a housing provident fund account and meet the withdrawal requirements. The notice shows that the loan borrowers accepted from July 1, 2020 (inclusive) can apply for loan repayment business. Center) Establish a housing provident fund account and meet the withdrawal conditions.
On the other hand, the borrower can apply for the loan repayment business at the same time when signing the loan loan contract. There is no need to separately apply for the house purchase and withdrawal business. The housing provident fund account balance will be used to repay the loan first. Once the loan repayment business is opened, the borrower's original other house purchase, rental house withdrawal items and agreed withdrawal business will be automatically terminated.
It should also be noted that for portfolio loans, the loan repayment business only supports the personal housing loan portion of the housing provident fund, and the commercial loan portion repayment is implemented according to the regulations of various commercial banks. (Finish)