Accurately calculate your provident fund loan monthly payments and total interest. Supports both fixed payment and fixed principal repayment methods.
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Struggling to figure out your provident fund loan monthly payments? This tool accurately calculates your monthly payment details for both fixed payment and fixed principal repayment methods based on three key factors: loan amount, loan term, and interest rate. One calculation cycle (one period) corresponds to one month of repayment. The results include the monthly principal paid, interest paid, and remaining balance.
What is the maximum term for a provident fund loan?
The maximum term is typically 30 years, but it cannot extend beyond 5 years after the borrower's statutory retirement age.
Which is more cost-effective: fixed payment or fixed principal?
The fixed principal method results in about 15-20% less total interest, but the initial monthly payments are higher. For example, on a 1 million loan over 30 years (at a 3.1% interest rate), the fixed principal method saves about 83,000 in interest compared to the fixed payment method, but the first month's payment will be about 1,300 higher.
The actual loan interest rate is subject to approval by the Provident Fund Management Center. Early repayment may incur fees. The calculated results do not include insurance premiums or other additional costs.
We recommend prioritizing the fixed principal repayment method if you can afford it. Although the initial financial pressure is higher, the total interest paid is significantly lower. Typical case: For a 1.2 million loan over 25 years (at a 3.1% interest rate), the total interest for the fixed principal method is about 465,000, which is 92,000 less than the fixed payment method.
