#文章首发挑战赛#
Yesterday, I received the information from the Yichang Provident Fund Center that the provident fund was remitted to the account this month, and saw that the balance had reached more than 50,000 yuan, and decided to use the balance of the provident fund to pay off part of the mortgage in advance.
I applied for a mortgage in May 2020, with a loan amount of 120,000 yuan and a total of 96 repayment times in 8 years. In December last year, more than 30,000 yuan was repaid in advance.
On December 14 this year, more than 30,000 yuan was repaid in advance. The balance of the loan after repayment is more than 13,600 yuan.
After repayment, the balance of the provident fund account is more than 19,300 yuan.
The process of making early repayments using the balance of your CPF account.
Prerequisite: Please confirm that you have set up a CPF loan repayment withdrawal file at the counter before you can apply for online withdrawal.
Note: This business is applicable to the situation that the provident fund is withdrawn annually to repay the loan without signing the housing provident fund deduction and repayment agreement. If you use the provident fund to repay the loan in large amounts in advance, please handle it in the "early repayment" under the loan business.
1. Pay attention to the "Yichang Provident Fund Center WeChat public account".
2. Real-name authentication is bound to the provident fund account.
3. Specific operation: Yichang Provident Fund Center ~ Business Handling ~ Loan Business ~ Early Repayment ~ Repayment Type and Funds.
Before the early repayment in December last year, the monthly payment was 1400+ yuan;
After the early repayment in December last year, the monthly payment dropped to 880+ yuan, and after the early repayment in December this year, the monthly payment is estimated to drop to 250+ yuan.
When I first bought a house loan, I considered that the monthly provident fund remittance was just enough to pay off the monthly instalment of the month, but in the past few years, the monthly provident fund remittance has more than doubled, and there is still a lot of savings in addition to paying off the monthly payment. The only drawback is that the CPF account at retirement is far less than the balance that has not been withdrawn!