Tool Introduction
The Combined Loan Calculator is an online tool specifically designed for users who apply for both housing provident fund loans and commercial personal housing loans simultaneously. It can accurately calculate the monthly repayment amount, the total interest over the entire loan cycle, and a detailed monthly repayment plan based on your input of the provident fund loan amount, commercial loan amount, loan term, respective loan interest rates, and selected repayment method (equal principal and interest or equal principal). This tool aims to help homebuyers clearly understand the repayment burden of combined loans, reasonably plan their finances, and make informed home purchase decisions.
How to Use
- Enter Loan Amount: Fill in your "Provident Fund Loan Amount" and "Commercial Loan Amount" in the designated areas (for example, if your total loan is 2 million, with 800,000 from provident fund and 1.2 million from commercial loan).
- Set Loan Term: Enter your "Total Loan Term" (in years, for example, 30 years).
- Fill in Loan Interest Rate: Enter the current "Provident Fund Loan Interest Rate" and "Commercial Loan Interest Rate" respectively (please enter the percentage number directly, such as 3.25 for 3.25%).
- Select Repayment Method: Choose one of the two repayment methods, "Equal Principal and Interest" or "Equal Principal," according to your preference.
- Click Calculate: After confirming all information is correct, click the "Calculate" button to immediately get detailed calculation results.
Input Parameter Format:
- Loan Amount: Pure numbers, unit is "Yuan".
- Loan Term: Integer, unit is "Year".
- Loan Interest Rate: Percentage number, for example, "3.25" represents 3.25%.
- Repayment Method: Select via radio buttons.
Output Result Format:
The calculator will display the following results in real-time:
- Total Monthly Payment: The total amount to be repaid each month.
- Total Interest: The total interest to be paid over the entire loan cycle.
- Total Repayment Amount: The sum of the loan principal and total interest.
- Detailed Repayment Schedule: Displays the monthly principal, interest, monthly payment, and remaining principal in a list or table format, allowing you to fully grasp the repayment progress.
Usage Example
Below is a specific example of using the combined loan calculator:
- Provident Fund Loan Amount: 800,000 Yuan
- Commercial Loan Amount: 1,200,000 Yuan
- Loan Term: 30 Years (360 periods)
- Provident Fund Loan Interest Rate: 3.25% (assuming LPR is 3.95%, provident fund rate is 3.25%)
- Commercial Loan Interest Rate: 3.95% (assuming LPR is 3.95%, bank adds 0%)
- Repayment Method: Equal Principal and Interest
Expected Output Results (example data, actual calculator may vary slightly):
- Total Monthly Payment: Approximately 10,234.50 Yuan
- Total Interest: Approximately 1,684,420.00 Yuan
- Total Repayment Amount: Approximately 3,684,420.00 Yuan
- Monthly Repayment Details (first month):
- Total Monthly Payment: 10,234.50 Yuan
- Provident Fund Monthly Payment: 3,480.97 Yuan (Interest: 2166.67 Yuan, Principal: 1314.30 Yuan)
- Commercial Loan Monthly Payment: 6,753.53 Yuan (Interest: 3950.00 Yuan, Principal: 2803.53 Yuan)
Specific Operation Demonstration: Users only need to find the corresponding input boxes on the webpage, sequentially fill in "800000", "1200000", "30", "3.25", "3.95", then select "Equal Principal and Interest", and finally click the "Calculate" button to see the detailed calculation results and repayment schedule table mentioned above at the bottom of the page.
Frequently Asked Questions
- Q: What loan types does the combined loan calculator support? A: This tool is designed specifically for the combined model of provident fund loans and commercial loans, capable of simultaneously processing calculations for both parts of the loan. If you only have a single loan (pure provident fund or pure commercial), simply fill in 0 for the other loan amount.
- Q: How do I fill in the interest rate? Is it a monthly rate or an annual rate? A: Please enter the annual interest rate as a percentage value directly. For example, if the annual interest rate is 3.25%, you would enter "3.25".
- Q: How can I view a detailed monthly repayment plan? A: The calculation result page will directly generate and display a detailed repayment schedule table, where you can clearly see the monthly principal repayment, interest, and remaining principal.
- Q: What if the calculation results differ from actual bank data? A: This tool provides reference calculation results based on your input data. Actual repayments may vary slightly due to minor adjustments in bank interest calculation methods, rounding to cents, or policy adjustments. Please refer to the actual data from the bank and provident fund management center for final confirmation.
Notes
- Interest Rate Adjustment Risk: Loan interest rates may be adjusted according to central bank policies, LPR (Loan Prime Rate) changes, or your contract agreements. The calculation results provided by this tool are static calculations based on your input of current interest rates and are for reference only.
- Other Fees: Actual loan processing and repayment may involve additional fees such as appraisal fees, guarantee fees, legal fees, insurance fees, etc. This calculator does not include these fees; please verify them.
- Data Accuracy: Please ensure the accuracy of the loan amount, term, and interest rate information you enter, as incorrect input will directly lead to inaccurate calculation results.
- Impact of Repayment Method: The "Equal Principal and Interest" and "Equal Principal" repayment methods have a significant impact on early monthly payments, total interest, and repayment pressure. It is recommended that you choose carefully based on your financial situation and future income expectations.
What is a Combined Loan?
A combined loan, as the name suggests, refers to a form of loan where the borrower simultaneously applies for a housing provident fund personal housing loan and a commercial personal housing loan to purchase the same house. When a homebuyer has a housing provident fund contribution record, but the maximum provident fund loan amount is insufficient to cover the entire home purchase price, they can apply for a combined loan to bridge the funding gap. This loan model aims to fully leverage the advantage of low provident fund loan interest rates while utilizing the high loan amount characteristic of commercial loans, providing homebuyers with a more flexible and economical financing solution to reduce overall repayment pressure.
Advantages and Disadvantages of Combined Loans
Combined loans, as a common form of home loan, combine the characteristics of provident fund loans and commercial loans, bringing both convenience and some challenges:
Advantages:
- Lower Interest Costs: Provident fund loan interest rates are usually much lower than commercial loan interest rates, and combined loans can effectively reduce overall loan interest expenses.
- Increased Loan Amount: Compensates for the insufficient maximum provident fund loan amount, meeting homebuyers' demand for larger amounts of funds to purchase higher-value properties.
- Reduced Home Purchase Pressure: Combining the advantages of both, it allows homebuyers to achieve their homeownership dreams with limited funds.
Disadvantages:
- Complex Application Process: As it involves both the housing provident fund management center and commercial banks, the loan approval process and required documents are relatively cumbersome, with many coordination and communication steps.
- Longer Approval Cycle: Compared to single loans, the approval time for combined loans is usually longer, requiring homebuyers to have more waiting time.
- Repayment Management: Although most banks provide one-stop repayment services, theoretically it may involve separate management of two loans, requiring higher demands for personal financial planning and repayment reminders.
- Bank Requirements: Not all banks support combined loan services, or some banks may have special regulations on the amount and interest rates of combined loans, requiring homebuyers to consult and confirm in advance.
