If you use a housing provident fund loan, what will happen if it is overdue?

After using provident fund loans, you must remember to repay on time just like commercial loans. If the borrower fails to repay the principal and interest of the loan in a timely manner as stipulated in the contract, after receiving the overdue notice of the housing provident fund loan issued by the management center or the loan undertaking agency designated by the management center, the borrower must immediately pay the arrears of the principal and interest of the loan and the overdue penalty. The Hefei Housing Provident Fund Management Center will also enter employees' personal bad records into the Housing Provident Fund Supervision File (system) and submit them to the People's Bank of China for inclusion in the personal credit reporting system. It can be seen that while commercial loans only affect the bank's credit record, the overdue provident fund loan will also affect the individual's supervisory file in the provident fund system, which will have an impact on subsequent loans or withdrawals.

Answer: Enthusiastic netizen 2013-05-07