A fully subsidized loan is when a lender borrows money from a bank, with all the interest borne by the government subsidy, and the lender returns only the principal as agreed.
There are four conditions to apply for a CPF subsidized interest loan:
1. The borrower has made continuous and normal housing provident fund (HPF) contributions for two years (the account is not blocked, there is no break in contributions in between, and the contributions have been made until after June 2015).
2. As of the end of December 2014, normal repayment has been made for 1 year, with no record of default or early repayment.
3. The property purchased for the loan is commercial housing or affordable housing with full property rights, with an area less than or equal to 90 square meters, and is the only housing for the family.
4. In 2014, the per capita annual income of husband and wife is less than 31,200 yuan (monthly average of 2,600 yuan) or a family member (myself, my spouse or minor children) suffers from nine kinds of major diseases listed in the provisions of the Housing Provident Fund withdrawal, and the medical expenses borne by the individual are more than 4,000 yuan.
The existence of CPF subsidized loans is a convenient policy prepared to facilitate those who are unable to obtain CPF loans through normal means, so don't worry too much about whether you will be unable to meet the application requirements.
Expanded information:
There are four main steps in applying for a subsidized loan for business start-ups:
1. Voluntary request
Requestors who meet the requirements will be required to apply to the The bottom working channel of the place of residence or operation (in some cases, it can be directly to the local human resources and social security part or the small loan guarantee organization) to make a written request and submit the relevant materials, documents or relevant confirmations.
2, check referral
Human resources and social security part of the qualifications check, the qualified referral to the small loan guarantee organization. Guarantee organization refers to the guarantee organization entrusted with the operation of the small loan guarantee fund in accordance with the relevant provisions.
3. Guarantee
Guarantee organizations conduct project inspections of applicants in accordance with the relevant regulations, and handle guarantee procedures for those who meet the conditions.
4, the issuance of loans
The loan applicant guaranteed by the guarantee organization, the bank in accordance with the relevant provisions of the approval of the signing of the contract, the issuance of loans. The bank refers to the cooperation agreement signed with the small loan guarantee organization to carry out small guaranteed loan services at all levels of various financial organizations.
Baidu Encyclopedia-Subsidized Loans