China to cut individual housing provident fund loan rates by 0.25 percentage points
Time:2024-05-19 18:43:33 Source:politicsViews(143)
China will cut the loan rates of individual housing provident fund by 0.25 percentage points, the central bank announced Friday.
Starting May 18, the interest rate of first-home loans that mature within or at five years will be set at 2.35 percent, while the over-five-year rate will be slashed to 2.85 percent, the People's Bank of China said on its website.
For second-home purchases, the interest rate of loans that mature within or at five years will be no lower than 2.775 percent, while the over-five-year rate will be no lower than 3.325 percent.
The housing provident fund is a long-term housing savings plan made up of compulsory monthly deposits by both employers and employees. It can only be used by employees for house-related expenses.
Previous:Chelsea women rout United to win 5th straight title as manager Emma Hayes exits for US
Next:Chinese sci
You may also like
- Accident in NW China's metro line test leaves 1 dead, 2 injured
- Xi Says Chinese Modernization to Bring New Opportunities to China
- New energy projects cater to Xizang's power needs
- R&D seen as key to success of private firms
- Columbia University encampment holds on as negotiation in progress
- Xi Says Chinese Modernization to Bring New Opportunities to China
- State Council approves new nuclear plants
- China, Indonesia communicating over chemical plant blast
- Bengaluru knocks out champion Chennai and squeezes into IPL playoffs