I. Interest on prepayment of provident fund loans

1, equal principal and interest method: calculation formula

Monthly repayment amount = monthly interest rate of principal [(65438+ 10 monthly interest rate) n/[(65438+ 10 monthly interest rate) n- 1]

Where n represents the number of months of loan, and n represents the power of n, such as 240, representing the power of 240 (20 years and 240 months of loan).

Monthly interest rate = annual interest rate/12

Total interest = monthly repayment amount-loan months-principal

After calculation, the monthly repayment amount is 5239.64 yuan (the same every month). The total repayment is 12575 13.09 yuan, and the total interest is 5575 13.09 yuan.

2. Average capital method: calculation formula.

Monthly repayment amount = principal /n Monthly interest rate of remaining principal.

Total interest = monthly interest rate of principal (loan months /20.5)

Second, the provident fund loan processing process

1, business consulting

Due to the differences in loan business in different cities, employees should consult the provident fund management center in their city when handling loan business in different places, and the provident fund management center will inform the loan review materials at one time.

Step 2 submit an application

Employees themselves or their clients apply to the urban provident fund deposit center, and the deposit center verifies the loans paid by employees according to their applications, and issues the Certificate of Deposit and Use of Housing Provident Fund for employees who have never used the housing provident fund or whose loans for the first time have been settled.

Step 3 verify information

After the loan city provident fund center accepts the employee's application for loan from different places, it shall verify the authenticity and completeness of the information in the "Certificate of Use of Housing Provident Fund" deposited by the employee with loan from different places to the city provident fund center. After verification, the loan approval procedures shall be handled within the prescribed time limit, and the results shall be fed back to the deposit city provident fund center. Deposit to the city provident fund center to identify the situation of employees' loans in different places, and establish a detailed account of employees' loans in different places.

4. Identify and record the loan situation.

During the repayment of employee loans paid in different places, if the personal account of housing provident fund is transferred, the original deposit city provident fund center shall promptly inform the loan city provident fund center and transfer it to the city provident fund center. Transferred to the city provident fund center should be re-identified and recorded in a timely manner after receiving the employee housing provident fund account.

Step 5 repay the loan

In loans overdue, the deposit city provident fund center should cooperate with the loan city provident fund center to carry out loan collection and other work. According to the loan contract, the balance in the loan employee's provident fund account can be used to deduct the repayment.

Combined with the above contents, we should already know the calculation method of prepayment interest of provident fund loans. In fact, even the calculation is different according to different ways, mainly including the equal principal and interest method and the average capital method. In addition, when you apply for housing provident fund, you only need to submit your application and materials, and then the staff can verify the information, and then you can start processing.

Can the provident fund loan be repaid in advance? How is the interest calculated specifically?

Provident fund loans can apply for early repayment. If the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan term. Workers who pay housing provident fund can apply for housing provident fund loans to the housing provident fund management center. The housing provident fund management center shall make a decision on whether to approve or disapprove the loan within 0/5 days from the date of accepting the application, and inform the applicant; If the loan is approved, the bank shall be entrusted to handle the loan formalities.

Moreover, the prepayment part of the provident fund loan is not less than 6.5438+0 million yuan each. If you want to repay the loan in advance and shorten the loan term, you need to pay at least% of the loan amount in 40 yuan. You need to call the bank to apply for early repayment, and you can only apply for early repayment after the application is passed.

Therefore, if it is a provident fund loan, you can safely choose to repay in advance.

How to calculate the interest on prepayment of provident fund loans? The way to repay the loan in advance by provident fund

Many borrowers will consider repaying the loan in advance after a period of time after applying for a loan. On the one hand, it can alleviate the subsequent economic pressure, on the other hand, it can also save some interest, especially for large loans such as mortgages. How to calculate the interest on prepayment of provident fund loans?

How to calculate the interest on prepayment of provident fund loans?

Calculation formula of interest for prepayment of provident fund loans: interest = monthly interest rate of remaining loan principal in the current month. However, it should be noted that if the borrower has repaid for more than one year, then if he chooses to repay in advance, he does not need to pay interest.

There are two ways to repay the loan in advance from the provident fund. One way is to withdraw the provident fund and repay the loan in advance in cash. After normal repayment 1 month, employees can contact the repayment bank by themselves and make an appointment with the bank to repay the provident fund in advance. The other is direct transfer to repay the loan in advance.

If you want to choose the second way to repay the loan in advance, employees need to meet three conditions.

The normal repayment has exceeded 12 months; The balance of the applicant's provident fund account should be more than 654.38 million yuan; When you withdraw the provident fund in advance, you need to bring your ID card and provident fund card. If the application is made by other property owners, the original property ownership certificate or purchase contract shall be provided. If it is the application of the borrower's spouse, it is necessary to provide the original marriage certificate with the borrower to the repayment bank acceptance point.

How to calculate the interest on prepayment of housing provident fund loans?

Legal analysis: prepayment of provident fund loans mainly includes full prepayment and partial prepayment. The local provident fund management centers have specific regulations on the conditions, quotas, processes and materials of prepayment. Borrowers can go to the provident fund management center for specific consultation. The general process of prepayment of provident fund loans is as follows:

1. Repay in full in advance.

(1) Applicants can inquire about their remaining balance by calling the hotline of the provident fund management center and make an appointment for early repayment;

(2) When applying for early repayment, the repayment person shall fill in the Application Form for Early Repayment of Housing Provident Fund Loan of Housing Provident Fund Management Center, sign it and provide the required information;

3) Approved by the entrusted bank;

(four) the provident fund management center for examination and approval;

(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. Partial prepayment

(1) The borrower calls the provident fund management hotline, inputs the amount you intend to repay in advance according to the voice prompt, and makes an appointment for repayment.

(2) To apply for early repayment, the repayment person shall fill in the Application for Early Repayment of Partial Loans from Housing Provident Fund Loan of Housing Provident Fund Management Center, sign it and provide the required information;

(3) Determine the amount and date of prepayment;

(4) Examination and approval by the entrusted bank.

(five) the provident fund management center for examination and approval;

(6) go to the bank to repay part of the loan principal;

(7) Send the prepayment form to the provident fund center for filing.

Four. Calculation method of prepayment interest:

Interest on prepayment = prepayment principal × daily interest rate × actual days.

Where: daily interest rate = annual interest rate /360= monthly interest rate /30.

The actual number of days is from the deduction date of the previous period to the day before the early repayment, that is, it is determined according to the principle of "counting the heads but not counting the tails".

Legal basis: Article 16 of the Detailed Rules for the Implementation of the Measures for the Administration of Individual Housing Loans of Agricultural Bank of China stipulates that the maximum amount of housing provident fund loans shall not exceed twice the amount of housing provident fund paid by the immediate family members of the borrower who have economic income, have housing provident fund deposits and live together in the same household registration within the retirement age.

Seventeenth borrowers can apply for housing loans issued by the housing provident fund and housing loans issued by bank credit funds.

How to calculate the interest on prepayment of provident fund loans?

Interest on prepayment of provident fund loans is calculated according to the remaining principal.

The prepayment of housing provident fund includes full prepayment, partial prepayment with unchanged loan term and partial prepayment with shortened loan term. Buyers can choose to pay off all the remaining loans in one lump sum, or they can choose to repay in advance. Whether it is a commercial loan or a housing provident fund loan, the principal amount of early repayment must be more than 6,543,800 yuan, and individual commercial banks also propose a limit of 50,000 yuan, depending on the contract. Most banks have certain requirements for the prepayment of commercial loans, for example, they can only apply for repayment for more than 6 months, and some banks say that they can only apply for prepayment twice in one year, and partial prepayment of housing provident fund loans is not limited by time and times, as long as the prepayment amount is not less than 1 10,000 yuan.

Precautions for prepayment of provident fund loans:

1. Early repayment refers to an economic behavior that the borrower repays part or all of the housing loan in advance on the basis of guaranteeing to repay the principal and interest of the individual housing loan on a monthly basis;

2. Under the premise that the repayment is not overdue, a part of the principal can be repaid in advance by several times, and the remaining loan principal can be reduced accordingly after each prepayment;

3. The interest paid when repaying the loan in advance is the part of the loan principal repaid in advance from the interest settlement date of last month to the early repayment date, which is counted as interest;

4. The annual prepayment interest rate of the provident fund is 1 4.59% for 5 years and 5.04% for 6 to 30 years, and the loan period of the provident fund can reach 30 years;

5. The bank recalculates the borrower's monthly repayment amount according to the outstanding loan principal until the loan principal and interest are fully paid off;

6. The principal paid in advance will no longer bear interest in the future, and the bank will only recalculate the monthly repayment amount for the outstanding principal and interest at the same period and the same interest rate.

How to calculate the interest on prepayment of provident fund loans?

After the provident fund loan is repaid in advance, no interest will be calculated on the repaid part, and the monthly loan interest after prepayment will be calculated according to the remaining loan principal and monthly loan interest rate.

Calculation of prepayment interest:

1. The interest paid when repaying the loan in advance is the accrued interest of the principal part of the loan repaid in advance from the interest settlement date of last month to the prepayment date.

2. Repay all the loan principal and interest in advance, and the loan bank will re-approve the remaining loan principal and interest of the borrower according to the actual number of days of loan occupation.

3. Repay part of the loan principal and interest in advance, and the loan bank recalculates the borrower's monthly repayment amount or loan term according to the remaining loan principal.