How to pay off the provident fund and automatically deduct the monthly mortgage repayment?

1, automatic deduction 2, hedging repayment

1, automatic deduction

After applying for provident fund mortgage, the borrower can choose automatic deduction to repay the monthly payment. Automatic deduction of provident fund refers to successful deduction when the balance of any one of the main lender's provident fund account, auxiliary lender's provident fund account, repayment card and three accounts is greater than or equal to the principal and interest of the loan to be repaid. As long as there is enough balance in the account, the expenses that need to be deducted can be automatically deducted every month, and there is no need to set an alarm clock to remind repayment every month.

2. Hedge loan repayment

Housing provident fund loan repayment is to entrust the bank to withdraw funds from the balance of individual provident fund account for monthly or early repayment. There are two ways to repay the loan: annual repayment and monthly repayment.

The annual repayment method is equivalent to partial prepayment once a year, but this method gives priority to repaying the principal of provident fund loans, and the monthly repayment amount must be repaid in cash. Use the monthly repayment method. In addition to the monthly principal and interest payable for provident fund loans, the monthly principal and interest payable for commercial loans can also be offset.

Procedures for repaying provident fund loans

1, determine the qualification. To apply for repayment of provident fund loans, you need to meet certain conditions, such as paying the provident fund for more than one year and the current loan balance is not less than 5,000 yuan.

2. Prepare application materials. Materials to be prepared when applying for provident fund loan repayment include provident fund account information, loan contract information, repayment schedule, etc.

3. Submit an application to the provident fund management department. Applicants need to submit the prepared application materials to the provident fund management department. After examination, those who meet the requirements can start to handle the repayment of provident fund loans.

4. Sign the entrusted deduction agreement. Applicants need to sign an entrustment deduction agreement when handling provident fund repayment business, so that the provident fund management department can deduct the corresponding repayment amount from the provident fund account on a regular basis.

To sum up, it is Bian Xiao's answer about how to automatically deduct the monthly mortgage repayment from the provident fund, hoping to help you.

legal ground

Regulations on the administration of housing provident fund

Twenty-fourth employees in any of the following circumstances, you can withdraw the balance of storage in the employee housing provident fund account:

(a) the purchase, construction, renovation and overhaul of owner-occupied housing;

(2) retirement;

(three) completely lose the ability to work, and terminate the labor relationship with the unit;

(4) Having left the country to settle down;

(5) Repaying the principal and interest of the house purchase loan;

(six) the rent exceeds the prescribed proportion of family wage income.

In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.

If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.