You want to buy a house in Shanghai and don't want to overburden the interest on a commercial loan? Provident Fund loans could be your first choice. Let us look at the level of the Shanghai Provident Fund loan and the requirements for the balance。

The Shanghai Provident Fund loan line and balance requirements

First, let's look at the maximum amount of the Provident Fund loan:

1. If you intend to apply for the first housing loan, as an individual applicant, you may borrow up to $500,000. If you're a family, you can get a million yuan。

2. If you consider the house purchased as the second housing unit to improve the quality of life, the individual ' s maximum loan is 400,000 yuan, while the family ceiling is 800,000 yuan。

3. If you contribute to the supplementary housing fund, the maximum amount of your loan, whether for an individual or for a family, can be increased from 600,000 yuan to 1.2 million yuan。

Second, there is a balance requirement for a Provident Fund loan:

Borrowers apply for loans from the Provident Fund not only to meet the requirements of the level of the loan but also to ensure that they have a certain balance in their own Provident Fund accounts so that they can remain normal when the monthly repayment is withheld. Specifically, the balance requirements of the Shanghai Provident Fund loan are:

Both the borrower and the co-borrower ' s basic Provident Fund account and the supplementary Provident Fund account are required to be surplus when applying for loans。

The basic Provident Fund accounts for borrowers and co-borrowers, as well as the Supplementary Provident Fund accounts, should be able to pay the Housing Provident Fund in full and on time upon application for loans。

The basic Provident Fund account for borrowers and co-borrowers and the supplementary Provident Fund account cannot be lower than the monthly repayment amount until the loan is repaid。