Procedures and required materials for the extraction and use of housing provident fund
I. Procedures
1. Financial appropriation unit:
The applicant provides relevant extraction basis-preliminary examination by the person in charge of the branch-verification by the person in charge of the business hall-examination and approval by the director of the center-summary and report by the finance department to the finance bureau for verification and disbursement-payment by the finance department.
2. Non-financial appropriation units:
The applicant provides relevant certificates-preliminary examination by the person in charge of the business hall-approval by the director of the center-payment by the finance department.
Second, extract the required materials.
A. Purchase of owner-occupied housing: individual application, unit certificate, purchase contract and invoice (see the original, keep a copy).
B. Divorce and retirement: individual application, unit certificate and divorce and retirement approval (original and photocopy).
C. On-the-job death: identity certificate of the entrusted extractor, certificate of the unit where the extractor works, and death certificate (original and photocopy).
D. Self-built and self-occupied housing: individual application, unit certificate and building approval procedures (original and photocopy of the permit)
E renovation and overhaul of self-occupied housing: original and photocopy of individual application, unit certificate and relevant approval procedures.
F. Exit and settlement: individual application, unit certificate and exit and settlement certificate.
G. Repaying the principal and interest of the house purchase loan: individual application and unit certificate.
Extraction and use of provident fund:
1. Purchase, build, decorate or overhaul owner-occupied housing;
2. Retired;
3, completely lose the ability to work, and terminate the labor relationship with the unit; ?
4. After terminating the labor relationship with the employer, he has not changed jobs for five years;
5. Go abroad or settle abroad;
6, the account moved out of the administrative area of the city or county where the housing provident fund system has not been established;
7, the provisions of the provincial people's government workers other housing consumption.
If an employee dies or is declared dead, the employee's heir or legatee may withdraw the storage balance in the employee's housing provident fund account.
Workers need funds to purchase, build, renovate or overhaul their own houses. If the storage balance in their own housing provident fund accounts is insufficient, they can withdraw the storage balance in their spouses', parents' and children's housing provident fund accounts, but they must obtain the written consent of the extractor.
Workers who withdraw the balance stored in the housing provident fund account shall apply to the management center with the relevant certification materials issued by the unit and go to the management center for handling.
(a) to the housing management department where the house is located or the housing entrusted escrow unit to issue a certificate to prove that the owner-occupied house really needs to be overhauled;
(two) to issue a repair budget certificate to the house repair company to determine the required expenses;
(three) the borrower holds the above certificate, personal loan application, unit guarantee certificate and borrower's income certificate until the competent department applies for a loan;
(four) the competent department to review the materials, put forward examination and approval opinions, and determine the loan amount, repayment period and repayment method;
(5) Having gone through relevant formalities in the bank.
How to determine the amount of housing provident fund?
1) The deposit amount of housing provident fund = the individual contribution ratio of the average monthly salary of the employee in the previous year+the unit contribution ratio of the average monthly salary of the employee in the previous year (both individual and unit contributions are rounded off).
2) How does the housing provident fund settle interest?
The fund management center carries out interest settlement of the provident fund on June 30th every year, and prints the interest settlement form.
Flowchart for handling provident fund loans
Get the loan application form-> the loan-related materials provided by the credit department-> the guarantee company handles the mortgage formalities-> sign the loan contract with the credit department and fill in the loan transfer receipt-> the center entrusts the bank to lend money-> the borrower repays the loan on time every month.
At present, provident fund loans are not only widely used to buy new houses, but also used to buy second-hand houses. Because the annual interest rate of provident fund loans is only 4.4 1%, which is nearly one percentage point lower than the current commercial loan interest rate of 5.5 1%, a general concept has been formed in the minds of most buyers: using provident fund loans saves money than using commercial loans. I love the experts in my family's financial department who told reporters that the advantages of provident fund loans are not limited to its preferential interest rate, but also many advantages such as high loan amount, long service life and flexible and convenient repayment.
1. Preferential interest rate for provident fund loans.
(1) With the same loan amount and the same repayment period, provident fund loans can save tens of thousands of yuan in interest than commercial loans. Take a 400,000 house as an example, with a loan of 280,000. If the term of the commercial loan is 25 years, the monthly repayment is 172 1 yuan, and the total repayment for 25 years is 5 16300 yuan, and the total interest paid is as high as 236,300 yuan. It is also a provident fund loan with a fixed term of 25 years, with an average monthly repayment of 1.548 yuan, and a total repayment of 464,400 yuan in 25 years, with a total interest payment of 1.844 million yuan. Compared with commercial loans, the monthly repayment can be less than 1.73 yuan, and the interest expense can be saved by nearly 5 1.90 yuan in 25 years.
(2) With the same loan amount and the same repayment amount, compared with commercial loans, provident fund loans not only have shorter repayment time, but also have much less repayment interest. Similarly, if the loan of 280,000 yuan is repaid with the same amount 172 1 yuan/month, the commercial loan will be repaid for 300 months, totaling 5 16300 yuan, with interest of 236,300 yuan. The provident fund loan is repaid to 25 1 month, that is, 2 1 year, and all the principal and interest have been paid off, with a total repayment of 4,30715 yuan, and the interest paid is only 1507 15 yuan, which is 85,585 yuan less than that of commercial loans.
Second, the repayment method and early repayment of provident fund loans are flexible and convenient.
(1) Flexible repayment method: The repayment method of provident fund loans is extremely flexible. As long as the monthly repayment amount is not lower than the "minimum repayment amount", the borrower can determine the monthly repayment amount at will, which is very convenient for the borrower to arrange funds.
(2) Convenient prepayment: prepayment of provident fund loans.
(3) The quota is flexible and easy to control funds. The prepayment amount of commercial loans must be a multiple of 1 0,000 or 50,000, but there is no specific provision for provident fund loans. As long as it is greater than the "minimum repayment amount", it is all regarded as the prepayment amount.
(4) There is no limit to the number of times, and repayment can be made in advance on a monthly basis. Some commercial loans have clear provisions on the number of prepayments. For example, 1 year can only be repaid three times in advance. Provident fund loans have three prepayment opportunities every month, and lenders can even adjust their prepayment amount at any time every month.
(5) Write down the principal first and reduce the total interest. When commercial loans are repaid in advance, the amount collected includes part of the principal and part of the interest. If the provident fund loan is repaid in advance, the amount will be fully offset against the loan principal. If the provident fund loan is used to repay in advance, the total interest of the final repayment will be much lower than that of the commercial loan with the same amount.
(6) It is convenient to make an appointment without written documents. Commercial banks not only need to make an appointment by telephone several months in advance, but some even need lenders to provide written documents, which is very inconvenient. For prepayment of provident fund loans, you only need to make an appointment by telephone three working days in advance, and you don't need any written documents to adjust the prepayment amount by telephone.
Third, other advantages of provident fund loans.
(1) The loan ratio is high and the down payment pressure is low. Generally, the maximum commercial loan can only reach 70%, and the down payment pressure of buyers is even greater. Provident fund loans can reach up to 9.5%, and buyers have little down payment pressure.
(2) The loan period is long and the monthly repayment amount is small. The longest loan period of commercial loans can only be 25 years, and most second-hand houses can only be loaned for 20 years, which puts a lot of pressure on monthly supply; The longest term of provident fund loans can reach 30 years, and the monthly supply pressure is small.
(3) The age limit is flexible. Commercial loans have strict requirements on the life of the house. Most banks don't lend for houses over 85 years old, and the loan period decreases with the increase of house age. The provident fund loan has more flexible restrictions on the age of the house, and the sum of the age of the house and the loan period can be less than 50 years.
(4) Houses in all districts and counties can be loaned. Commercial loans are generally only for eligible houses in the eighth district of Beijing, and the audit of outer suburb real estate is extremely strict. Provident fund loans can be lent not only to houses in the eight districts of the city, but also to houses in the outer suburbs of Beijing.
(5) There is no restriction on the age of the borrower. The borrower's age plus the loan period of commercial loans must be less than 65 years old, while provident fund loans have no restrictions on the borrower's age.
Misunderstanding of the use of provident fund loans
In view of the misunderstanding of many property buyers in the use of provident fund loans, I love my family's financial experts to point out that provident fund loans will not set a fixed repayment amount like commercial loans, but only require lenders not to be lower than a certain "minimum repayment amount" when repaying. Take the repayment of 280,000 loans in 25 years as an example. Provident fund loans will only require lenders to pay no less than 1.344 yuan per month, and many lenders often only pay 1.344 yuan per month for repayment. But in this way, when the lender repays the last month's loan, he will find that there are still more than 47,000 yuan of loan principal outstanding, which eventually leads to great pressure on the final repayment.
In view of the use of provident fund loans, I love my family's financial experts' advice: when using provident fund loans, lenders should pay more in each installment if they have spare capacity, provided that the minimum repayment amount is not lower than the minimum repayment amount. The extra monthly payment directly offsets the loan principal, which will only reduce the total repayment interest and shorten the repayment date for the lender, which is beneficial and harmless.
Housing provident fund loans should be handled according to the following procedures:
(a) the borrower to apply for housing provident fund loans to the city housing provident fund management center to submit a written application, fill in the housing provident fund loan application form and truthfully provide relevant information.
(II) The municipal housing provident fund management center is responsible for reviewing the borrower's qualification, guarantor's qualification, loan amount, loan term and contract completion, and the borrower signs relevant contracts or agreements with the center, and handles insurance according to the provisions of the People's Bank of China.
(three) after the completion of the loan procedures, the city housing provident fund management center issued a loan approval notice to the bank, and the bank went through the loan issuance procedures after receiving the loan notice.
Special reminder: when buying a house, the borrower can go to the bank to calculate the loan amount and monthly repayment amount according to his own provident fund payment. According to the relevant provisions of provident fund management, it is withdrawn once a year. Suppose the customer withdraws the provident fund 15000 yuan once a year, the monthly repayment amount of the provident fund loan is 1500 yuan, and the repayment amount of the commercial loan is 1000 yuan. In terms of repayment method, you can choose the "balance loan cancellation method", that is, the extracted provident fund will first return the housing provident fund loan and the principal and interest of the current month's commercial loan (* * * is 2500 yuan). The balance 12500 yuan can be used to repay the principal of the housing commercial loan in one lump sum. After paying off the housing commercial loan principal, use the remaining balance to repay the provident fund loan principal, because the commercial loan interest rate is higher than the provident fund loan interest rate. After "repaying the loan", the borrower can choose to shorten the original repayment period, or keep the repayment period unchanged and reduce the monthly repayment amount. However, at present, commercial banks have certain restrictions on the number of prepayments for customers. If the customer chooses the repayment method of "matching principal and interest" and the monthly repayment amount remains unchanged at 2,500 yuan, the withdrawn provident fund15,000 yuan will be deducted continuously at 2,500 yuan per month according to the original deduction method. When the balance is insufficient, the borrower shall timely inject the full amount into the bank card for repayment. Customers can choose the above two repayment methods according to their actual situation.
If customers apply for commercial loans when buying individual housing, such as individual housing mortgage loans, individual housing transfer loans, individual re-trading housing loans, etc. At that time, for various reasons, I did not apply for a "provident fund" loan to buy a house. Now the personal provident fund has reached the prescribed number of years and quota, which is in line with the conditions for applying for provident fund housing loans. Although commercial banks can't convert commercial loans to provident fund housing loans at present, they can withdraw provident fund to repay the principal and interest of commercial loans. As long as the borrower applies to the provident fund management center and goes through the relevant procedures for withdrawing the provident fund, he can withdraw the provident fund and return the principal and interest of the individual housing loan.
Workflow of applying for personal housing loan from the bank;
(1) The buyer shall sign a commodity house pre-sale contract with the developer.
(2) Pay more than 30% of the house price.
(three) to the housing management department for pre-sale registration.
(4) After completing the pre-sale registration, the buyer holds the original contract and fills in the loan application and loan contract.
The interest of these two repayment methods is very different.
The average homebuyer only knows that the loan must be repaid with interest, but the interest of different repayment methods varies greatly. If the loan amount is about 400,000 yuan and the term is 30 years, the interest difference can reach 65,438+10,000 yuan! Many people are still in the dark about this-there is a big difference in interest between the two repayment methods. Here is an excerpt for your reference.
Mr. Liu, a citizen, just bought a new house last month, completed the formalities of housing loan, and repaid nearly 2000 yuan every month. Who knows that just after the first loan repayment this month, Mr. Liu learned something that surprised him greatly-one of his relatives had almost the same loan amount and the same life span, but the overall interest on loan repayment was nearly 25,000 yuan less! The reason is that they have adopted different repayment methods. Previously, Mr. Liu said that he knew nothing about another way of repaying loans.
"When signing the contract, the bank staff just brought a lot of loan contracts, many of them, and then helped you turn around for a while, pointing to some blank places, asking you to sign, fill in the ID number and press your fingerprints. There is no mention of another repayment method. "
After signing the loan contract, Mr. Liu calculated by himself that the total interest was as high as176,000 yuan. If it weren't for the reminder of relatives, Mr. Liu thought that the loan was done like this. Angry and distressed, Mr. Liu couldn't help but take out his loan contract and read it carefully several times. He found that there are indeed two loan methods for him to choose from in the contract, but the blank space has been filled in by the bank in advance with the equal principal and interest repayment method, so there is no room for his own consideration. He asked a friend to calculate that if another repayment method is adopted, the total interest of his 300,000 yuan and 20-year commercial housing loan will be less than 6.5438+0.52 million yuan, which is 24,900 yuan less than now.
Banks generally recommend the "matching method"
In order to find out, in the past few days, reporters have also made unannounced visits to many banks in Nanjing as buyers.
In the consumer credit supermarket of Xinjiekou Sub-branch of Agricultural Bank of China, the reporter said that he was going to buy a commercial house with a total price of 800,000 yuan, with a down payment of 30%, a provident fund loan of 1.2 million, and the remaining 440,000 yuan was going to apply for a commercial loan, which would be paid off in 30 years. A staff member warmly received the reporter. She first introduced the principal and interest repayment method (matching method) to the reporter. Through calculation, the item "monthly repayment amount" shows 2372.78 yuan;
The reporter then asked if there were other repayment methods, and the staff member said that there was also a "principal repayment method" (diminishing method). The monthly repayment amount is different, from about 3,000 yuan to more than 1000 yuan.
Which method should we choose? The following is the dialogue between the reporter and the staff member:
"Which of the two repayment methods is more cost-effective?"
"Generally speaking, the second diminishing method pays less money, but most people will not wait until 30 years to pay it off. If the loan was repaid in advance, there would not be such a big gap. What's more, although the diminishing method is still used less, the pressure is too great at first. "
"Which is more convenient?"
"Of course, the first matching method is more convenient, and you only need to pay the same amount of money to the bank every month. The second decreasing method has a different amount of money every month, and it is also very troublesome to calculate ... So we generally recommend customers to choose the equal method. "
Subsequently, the reporter continued to consult commercial banks, China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank and other banks as buyers. Most of them mainly introduce the "principal and interest repayment method", that is, the equal principal and interest method, and some even don't mention the diminishing repayment method at all. Although some bank staff finally admitted that they should choose the repayment method according to their personal circumstances, they can clearly hear the tendency of equal payment method from their words.
Banks tend to lie in spreads.
What is the reason for this tendency of banks? A person who has been engaged in the financial industry for many years bluntly said: "The key lies in the interest margin."
"The interest gap between the two methods is very large!" The person made some calculations with the example of an unannounced visit by a reporter, and the results were shocking-the same commercial loan of 440,000 yuan and 30 years, the total interest of the matching method was 410.4 million yuan, while the decreasing method was about 297,000 yuan. The interest difference between the two different repayment methods is as much as 1 1 ten thousand yuan!
The source said that the same loan business, for banks that "eat interest meals", of course, I hope that all property buyers will choose the repayment method with high interest. Just like the sale of ordinary goods, ordinary merchants will recommend customers to buy goods with high prices and high profits. How can they recommend goods with low prices and low profits?
As for the bank's explanation that "matching method is more convenient than decreasing method", the reporter found that using decreasing method is actually not as troublesome as expected. Although the monthly repayment amount is different, the specific amount does not need to be calculated manually. The bank's computer system can easily print out the monthly repayment amount data table for 30 years, and the purchaser only needs to pay the money accordingly.
As for another explanation, the reporter found through the calculation of the insiders that although the repayment amount at the beginning of the diminishing method was really high, about 3,000 yuan, it was about 2,372 yuan higher than that of 620 yuan, and the duration was only one year and two months. Most of the time, the repayment amount is concentrated between 2000 yuan and 1000 yuan. I believe that the price difference of more than 600 yuan can be borne by most buyers. Moreover, the interest thus "saved" is as high as 1 1 more than 10,000 yuan, which deserves the reflection of most property buyers.
The bank said it didn't take advantage.
Yesterday, CCB, BOC, ABC, Minsheng and other banks said in an interview that the total interest of the two repayment methods is quite different on the surface, but in fact the calculation principles of the two methods are the same.
"No bank takes advantage. First of all, the two repayment methods are not formulated by any commercial bank, but stipulated by the central bank. " Cong Huachang, director of the real estate credit department of Jiangsu Branch of China Construction Bank, said that1May 1998, the central bank promulgated the Measures for the Administration of Individual Housing Loans, which stipulated that there are two repayment methods for housing loans: equal principal and interest and average capital. No matter which repayment method, it is in line with the regulations. And in fact, the calculation principle of the two repayment methods is the same.
"Simply put, the interest difference between the two is certain, but for banks, there is no way to overcharge customers' interest, because these two repayment methods are calculated according to the time value of customers' occupation of bank funds. "
According to Director Cong's explanation, the fundamental reason for the difference in total interest between the two repayment methods is that the customer's occupation of bank funds has changed. Decreasing repayment method, because the customer pays more principal at the beginning, the less the bank principal later, the less interest will be generated. However, the principle of equal principal and interest repayment is different. The loan principal paid at the beginning is less, and the bank funds occupied are relatively more, so the interest will increase accordingly.
In view of the fact that ordinary people are not familiar with the two repayment methods, some banks said yesterday that they will strengthen their obligation to inform before handling loans in the future.
"Maybe some of our counter staff will think that it is customary to choose the repayment method of equal principal and interest, and the people are used to this repayment method, so there is no explanation and publicity for the diminishing method. When the customer comes, just do it the old way. "
Some banks said that in the future, before handling housing loans, "we should put words first" and let customers choose independently.
The consumer association says buyers have the right to know.
Sun Jianhe, secretary-general of Nanjing Consumers Association, said in analyzing the above phenomenon that buying a house by loan is also a kind of consumption behavior, and consumers enjoy the right to know and choose given by the Consumer Law. As an operator providing services to consumers, banks are obliged to publicize two different service contents, namely two different repayment methods, in a prominent position in the service place. In addition, we should objectively and clearly introduce the differences between the two repayment methods and their respective advantages and disadvantages, otherwise it will infringe on the rights given to consumers by the Consumer Law.
Articles 8 and 9 of China's Consumer Law stipulate that "consumers have the right to know the true situation of the goods they buy or use or the services they receive"; "Consumers have the right to choose their own goods or services, and decide whether to buy or not to buy any kind of goods or accept or not to accept any kind of services"; "Consumers have the right to compare, identify and choose their own goods or services."
Sun Jianhe believes that if banks choose one repayment method for consumers without clearly telling them the advantages and disadvantages of the two repayment methods, it will violate the above provisions of the Consumer Law and infringe on consumers' right to know and choose.
The reason lies in the information asymmetry between the two sides.
Loan buyers can enjoy two different repayment methods, which is expressly stipulated by the People's Bank of China. However, why in practice, one way is favored, while the other way is obviously "cold"? What is the root cause of the principal repayment method "the bank doesn't recommend it and the consumer doesn't know"?
Many interviewed experts and insiders unanimously pointed out that the serious information asymmetry between buyers and banks is the primary reason. Under the condition of market economy, the limitation of this information asymmetry will inevitably create favorable conditions for banks to conceal information intentionally or unintentionally and obtain more interest income; Because of the lack of information, buyers are inevitably in a weak position.
Lawyer Qian said that consumers are not bankers after all, and the regulations of the People's Bank of China are only aimed at banks, and ordinary people have no way of knowing. Therefore, when choosing a housing loan, it is often the bank that has the final say and has a certain degree of blind obedience.
Lawyer Chen Guanghua also believes that in the process of buying a house with loans, banks and property buyers are in an obvious unequal position. Banks have a lot of information that consumers don't have, and they have sufficient reasons and conditions to guide consumers to buy houses subjectively. (Reporter/Wang Haiyan Zheng Chunping)
Related links
Comparison of two repayment methods
1, the calculation method is different.
Equal principal and interest repayment method. That is, the borrower repays the loan principal and interest in equal amount every month.
Average capital repayment method. That is, the borrower repays the principal in equal amount every month, and the loan interest decreases month by month with the principal.
2. The total amount of interest paid by the two methods is different. Under the same loan amount, interest rate and loan life, the total interest of the principal repayment method is less than that of the principal repayment method;
3. The ratio of interest to principal is different in the first few years of repayment. Interest accounts for a large proportion of the total repayment in previous years (sometimes as high as 90%), while the principal of the principal repayment method is shared equally every time, and the interest is calculated on a daily basis, so the ratio of the two is about 50% at the highest.
4. The pressure before and after repayment is different. Because the monthly repayment amount of the principal and interest repayment method is the same, the repayment pressure is the same every time when the income and expenditure and prices are basically unchanged; The principal repayment method pays the same principal every time, but the interest decreases from more to less. Under the same circumstances, the stress in the later period is much lighter than that in the earlier period.