How to evaluate the amount of provident fund loan
Provident fund loans are the first choice for many home buyers because of their low interest rates and low repayment pressure. However, the assessment of provident fund loan limits involves multiple factors, including deposit base, account balance, loan term, etc. This article will analyze in detail the evaluation method of provident fund loan limit, and attach structured data to help you quickly understand your loan limit.
1. Main influencing factors of provident fund loan amount
The assessment of provident fund loan amount is not based on a single criterion, but is calculated based on multiple factors. The following are the core elements that affect the quota:
| Influencing factors | Description |
|---|---|
| Deposit base | It is usually 5%-12% of the monthly salary. The higher the base, the higher the loan amount. |
| Account balance | In some areas, the loan limit is 10-20 times the account balance. |
| Loan term | The longer the term, the smaller the monthly payment pressure, but the total interest will increase. |
| home value | The loan amount usually does not exceed 70%-80% of the appraised value of the house. |
| repayment ability | The monthly payment does not exceed 50% of the family income. |
2. Calculation formula of provident fund loan amount
Provident fund centers in different regions may have different calculation methods, but the following is a general reference formula:
| Calculation method | formula |
|---|---|
| Based on account balance | Loanable amount = provident fund account balance × multiple (usually 10-20 times) |
| Based on deposit base | Loanable amount = monthly deposit × 12 × loan term × coefficient (usually 1-1.5) |
| Comprehensive calculation | Take the lower value of the above two methods and do not exceed the local maximum limit. |
3. Comparison of Provident Fund Loan Policies in Various Regions
Provident fund loan policies vary in different cities. The following are the upper limit and multiple regulations of some popular cities:
| city | Maximum amount (10,000 yuan) | Account balance multiple |
|---|---|---|
| Beijing | 120 | 12 times |
| Shanghai | 100 | 15 times |
| Guangzhou | 60 (single)/100 (couple) | 10 times |
| Shenzhen | 90 | 14 times |
| Chengdu | 70 | 20 times |
4. How to increase the provident fund loan limit
If you want to get a higher provident fund loan amount, you can try the following methods:
1.Increase the deposit base: Negotiate with the unit to adjust the provident fund contribution ratio or base.
2.Extend loan term: Choose a longer repayment term, but be aware of the total interest cost.
3.Add co-borrowers: The amount can be stacked if couples or immediate family members apply together.
4.Pay back provident fund: Some areas allow back payment to increase account balance.
5.Choose a portfolio loan: When the provident fund loan is insufficient, it can be matched with a commercial loan.
5. Frequently Asked Questions
Q1: Will the provident fund loan limit be affected by credit history?
A1: Yes, a bad credit record may lead to a reduction in the limit or denial of a loan.
Q2: Can I apply for provident fund loan limit multiple times?
A2: Usually you need to pay off the previous loan before you can apply again.
Q3: Can provident funds deposited in other places be used for local loans?
A3: Some cities support provident fund loans in other places. You need to consult local policies.
Through the above analysis, I believe you have a clearer understanding of the evaluation of provident fund loan limits. It is recommended to consult the local provident fund center in detail before applying to ensure that you obtain the most accurate amount information.
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