Let's talk about a pool loan. This is the type of loan that many people choose when they buy a house. After all, who doesn't want interest to be as low as possible? Of course, not everyone would choose to wait until the loan expired before the full debt was repaid. Some people choose to pay in advance to reduce interest costs. What, however, is the attention given to early repayment of Provident Fund loans? Let's talk about it。

Five points are particularly important

The first advantage of early repayment of a Provident Fund loan is that it is not subject to default. This and business loans differ markedly. But there's a little sticker here, and if your goal is to save more interest, you may need to start paying early on because most of the loans repaid in the prior period are interest。

When you decide to pay off a Provident Fund loan in advance, keep in mind that there are limits to the repayment time. If you apply for an advance payment within one year, you need to return the entire mortgage in one-time payment. However, if you have paid back more than a year, you will have the option of paying back the loan in part in advance or in full。

At the time of partial early repayment, you must pay up to 10,000 yuan in whole and not less than 12 months of total interest on the loan. This is a high financial requirement for home buyers, so if you are experiencing a slight economic stress, it may be necessary to reconsider the early payment。

In addition to the above, you need to pay attention to the order of deductions. The first step in repayment should be the repayment of the principal and interest on the overdue loan, as well as the interest penalty arising from the overdue loan, and then the principal interest due on the loan in the current period. The final remaining amount will be used for the return of the capital of the Housing Provident Fund loan. It should therefore be borne in mind that adequate financial preparation was required and that the order of the deduction should not be forgotten。

Lastly, it was important to understand that the process of early repayment was important, whether you chose a Provident Fund loan or a commercial loan, and that advance repayment should be submitted in advance and approved accordingly。

That is all the attention that has been given to the early repayment of the Provident Fund loan, and I hope that it will help with these presentations, thanks to your patience。