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Accurately calculate your Housing Provident Fund loan monthly payments and total interest. Supports both fixed monthly payment and fixed principal repayment methods.
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To solve the pain points of complex monthly payment calculations and difficult repayment plan comparisons for Housing Provident Fund loans, this tool is based on the People's Bank of China's provident fund loan calculation standards. By entering the loan amount, term, and interest rate, it automatically generates the monthly payment amount, total interest, and a detailed repayment schedule. A fixed monthly payment (equal installment) means the monthly repayment amount is fixed (including principal + interest), while a fixed principal payment means repaying a fixed principal amount plus decreasing interest each month.
What is the maximum term for a provident fund loan?
The maximum is 30 years, but the borrower's age plus the loan term must be ≤ 70 years.
How much interest does a fixed principal payment save compared to a fixed monthly payment?
Taking an 800,000 RMB loan over 25 years at a 3.1% interest rate as an example: the total interest for a fixed principal payment is about 348,000 RMB, saving 59,000 RMB compared to a fixed monthly payment (about 407,000 RMB), but the monthly payments in the first 5 years are 32% higher.
The actual interest rate is subject to the local provident fund center, and the interest rate for a second home increases by 10%. The calculation results do not include additional fees such as appraisal fees or guarantee fees. Early repayment may incur penalty fees.
It is recommended to prioritize the fixed monthly payment method: the monthly payment pressure is stable, making it suitable for groups with moderate income growth. If you plan to pay off the loan early within 5 years, the fixed principal method is more cost-effective. Typical example: For a 1,000,000 RMB loan over 20 years at 3.1%, the first month's payment under the fixed monthly payment method is 5,592 RMB (interest 2,583 RMB), while the first month's payment under the fixed principal method is 6,875 RMB (interest 2,583 RMB + principal 4,292 RMB).
