Recently, the personal housing loan interest rate of housing provident fund was cut by 0.25 percentage points. The Ministry of Housing and Urban Rural Development issued the Notice on the Relevant Work of Decreasing the Interest Rate of Individual Housing Loan of Housing Provident Fund, requiring that the interest rate of individual housing loan of housing provident fund be adjusted in time and the policy of individual housing loan of stock housing provident fund be well connected. How will the individual housing loan interest rate of housing provident fund be lowered this time? How much benefit can the depositor get from it?
The relevant person in charge of the Housing Provident Fund Supervision Department of the Ministry of Housing and Urban Rural Development introduced that the interest rate adjustment scope of this loan includes both the newly issued housing provident fund personal housing loans and the stock housing provident fund personal housing loans. For individual housing provident fund loans issued before May 18, 2024, the new interest rate will be implemented from January 1, 2025. The personal housing provident fund loans newly issued after May 18, 2024 (inclusive) will be directly executed according to the adjusted new interest rate.
It is reported that after the adjustment, the loan interest rate of the first personal housing provident fund less than 5 years (including 5 years) and more than 5 years is adjusted to 2.35% and 2.85% respectively, and the loan interest rate of the second personal housing provident fund less than 5 years (including 5 years) and more than 5 years is adjusted to not less than 2.775% and 3.325% respectively.
The lender of housing provident fund benefits most directly from the reduction of loan interest rate. Taking a personal housing loan of the first housing provident fund with an amount of 1 million yuan and a term of 30 years as an example, if the repayment method of equal principal and interest is selected, the monthly payment will be reduced from 427016 yuan to 4135.57 yuan, reducing by about 135 yuan, and the total interest expenditure will be reduced by 48500 yuan.
Since the 18th National Congress of the Communist Party of China, the Ministry of Housing and Urban Rural Development has actively played the role of housing provident fund to promote the solution of the housing problem of depositors. Since 2012, the accumulative amount of personal housing loans granted to housing provident fund has been 12.9 trillion yuan, and the loan balance has increased from 2.7 trillion yuan to 7.8 trillion yuan in 2023, supporting nearly 50 million depositors to achieve housing, of which more than 80% are purchasing the first house. In recent years, the housing provident fund personal housing loans have maintained a steady growth year after year. In 2023, the loan balance will increase by nearly 7%, and the newly issued loans will increase by more than 24% year on year, which strongly supports the housing consumption of depositors.
"We will guide the urban housing provident fund management center to do a good job of policy convergence in accordance with the regulations, so as to ensure that the depositors can enjoy preferential policies at the first time," said the relevant person in charge of the Housing Provident Fund Supervision Department of the Ministry of Housing and Urban Rural Development.
People's Daily (May 21, 2024, 13th Edition)
