September 21st, 2010 | 
Author: The provident fund is also the mortgage, there are three ways.
One-time payment method.
Provident Fund Withdrawal from the housing fund account balance, one-time pay back the loan. After retirement, many people, using this approach repayment. After repayment, if the loans are not repaid, the remaining loan principal and repayment period of re-calculated to determine the monthly repayment amount every month after.
Several months to stop repayment method.
Extracted from the provident fund account balance, pay back the loan ahead of schedule. Prepayment, the borrower can stop the repayment several months. (Stop the repayment duration of the loan amount according to the decision to return ahead of schedule, but can not exceed 12 months) after cessation of repayment of the loan shall continue monthly payments. Stop further period of less interest, do not charge penalty interest, not compound interest, stopping also in the monthly repayment after the end of monthly deduction also. Some home buyers at a certain stage changes in income (such as illness, maternity, unemployment, etc.), and more using this approach repayment.
Monthly repayment method.
Extracted directly from the provident fund account monthly repayment fund. Extraction of the amount of housing fund is insufficient, the lender must promptly repay the amount of complement.
Repayment for the provident fund can be applied directly to the lending bank, sign a “housing fund to return home loans extraction power of attorney” (the “proxy”), “Power of Attorney” is valid until after the closing of self-termination of principal and interest loans. One-time payment or repayment by several months to stop the law, signed in the 1-3 month “proxy”, 4-June handle repayment fund; in the 4-8 month sign a “proxy” 9-October fund handling repayment; in 9-12 month sign a “proxy”, and next year go through 4-6 month repayment fund. Monthly repayment by law, 31 days after receiving the bank loan repayment fund processing.
Individual purchase by housing provident fund loans, housing loans or portfolio of housing loans to buy a house commercial people, can apply for loan repayment fund return. Buy a house spouse, lineal blood relatives, can use their loan repayment fund.
Change fund repayment methods is required to handle the change proposed by the lending bank commissioned by the application and sign a “housing fund to return home loans extracted change commissioned book”, but the process to change the way repayment fund, to be commissioned in the original commissioning or changes after one year . Loan principal and interest to settle before, buy a house with the lending banks may sign a “housing fund to return home loans extraction commission to terminate the book” for processing termination of commission, but not allowed to do within one year of loan repayment fund commission.
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Tags: account balance, bank commissioned, duration of the loan, Prepayment