In the case of Provident Fund loans, it is essential to understand the interest rate, as it directly determines the interest we will pay. Low interest rates also mean lower interest expenditure. It would then be useful to look together at the change in interest rates on housing equity loans in 2023。

What's the interest rate on the Housing Provident Fund loan in 2024

THE RATE OF INTEREST ON THE HOUSING PROVIDENT FUND LOANS IN 2024 WILL VARY BETWEEN THE FIRST AND THE SECOND. IF YOU INTEND TO PURCHASE THE FIRST FLAT, THE INTEREST RATE IS 2.1 TP3T FOR LESS THAN FIVE YEARS, AND 3.1 TP3T FOR MORE THAN FIVE YEARS. IF YOU WANT TO PURCHASE TWO UNITS, THE INTEREST RATE FOR LESS THAN FIVE YEARS (INCLUDING FIVE YEARS) IS 3.025%, WHEREAS FOR MORE THAN FIVE YEARS IT IS 3.575%。

Next thing you know, how to apply for a housing fund loan? First of all, you have to meet the conditions of application of the Housing Provident Fund management centre or bank, often under the conditions of urban workers or residents who are in the process of contributing to the Provident Fund. Second, the amount of the loan is usually customised for your Provident Fund deposits and personal credit status, and cannot exceed the balance of your Provident Fund account. After that, you need to prepare a variety of applications, including identity cards, household books, labour contracts, salary certificates, etc., and submit them to the Housing Provident Fund Management Centre or Bank. Once they have passed their audit of your identity, income and the deposits of the Provident Fund, your loan will be approved. Finally, by signing the contract and receiving the loan, you can start planning how to repay the contract

This is the complete set of information on the interest rate and application process of the Housing Provident Fund in 2024. It is hoped that this information will help you to understand and apply for a Provident Fund loan. Thanks for reading