I. Scope of Application:
The service is applicable to the situation where a borrower requires to make an early settlement of a housing provident fund (HPF) loan that was accepted after August 1, 2020.
II. Service Conditions:
1. One-term regular repayment for the loan has been fulfilled, and there is no default on the principal, interest, penalty interest on the principal, penalty interest on the interest, expenses required to realize the creditor’s rights, losses caused to the lender due to the borrower’s default, or any other expenses payable.
2. There is no outstanding amount for the HPF loan.
3. The agreed repayment date shall not be the 20th day of each month and shall be no later than the next repayment date or the end of the year.
4. Weekends and holidays shall not be selected as the agreed repayment date.
5. Other terms specified by the Shanghai Housing Provident Fund Management Committee, the Shanghai Provident Fund Management Center and the HPF loan contract.
III. Application Materials:
1. Proof of identity: The original identity card of the borrower. The people from Hong Kong, Macao and Taiwan shall provide the originals of the Mainland Travel Permit for Hong Kong and Macao Residents, the Mainland Travel Permit for Taiwan Residents or the Residence Permit for Hong Kong, Macao and Taiwan Residents; the expatriates and those who have obtained the permanent (long-term) right of residence abroad shall provide the original passport or foreign permanent resident ID card.
2. Other materials required by the Shanghai Provident Fund Management Center.
IV. Service Methods:
Offline:
The original service outlet that accepted the loan.
Online:
Shanghai Housing Provident Fund Website (www.shgjj.com) and Suishenban service platform -- Appointment for Early Repayment of the Housing Provident Fund Loan
Service procedure:
Making an appointment -- Depositing an amount equal to the total of the principal and the interest payable for the early settlement in the repayment account prior to the agreed repayment date.
V. Required Attendees:
The borrower. In case of the absence of the borrower, a notarized power of attorney (including the specific matters entrusted with) issued by a notary office and the original identification certificate of the entrusted party shall be provided.
VI. Notes:
1. On the agreed repayment date, if the regular repayment for that month is not fulfilled, the acceptance of early settlement shall be voided.
2. On the agreed repayment date, if the balance in the repayment account is insufficient to fully repay the principal and the interest payable for the early settlement, the acceptance of early settlement shall be voided.
3. If the borrower has entrusted an HPF withdrawal for repayment, the entrusted withdrawal shall be terminated automatically after the pure HPF loan is settled early.