People's Daily Online, Beijing, September 7 (Reporter Luo Zhizhi) On September 7, ICBC, Agricultural Bank of China, Bank of China and China Construction Bank, four major state-owned banks, respectively issued announcements on operational matters related to reducing the loan interest rate of the first housing stock. According to the detailed rules issued by various banks, from September 25, the interest rate of the first housing loan in stock will be lowered through batch adjustment.

Industrial and Commercial Bank of China

Screenshot of ICBC official website

ICBC announced that from September 25, 2023, ICBC will negotiate with existing individual housing loan customers to adjust the loan execution rate.

The announcement clearly stated that individual housing loans that meet the following conditions at the same time can carry out interest rate adjustment of stock housing loans: first, the loan issuing time or contract signing time is before August 31, 2023 (including that day); Second, commercial personal housing loans used to purchase housing, including ordinary pure commercial personal housing loans, and commercial personal housing loans in provident fund portfolio loans; The third is the first personal housing loan; Fourth, in principle, it should be a normal personal housing loan that repays the principal and interest in full on a monthly basis. If the loan is currently in a bad state, the customer must repay the principal and interest arrears before applying for interest rate adjustment.

agricultural bank

Screenshot of official website of Agricultural Bank of China

The announcement issued by the Agricultural Bank of China on September 7 pointed out that the Agricultural Bank of China will provide inquiry and other services in palm banks, loan handling banks, business outlets, 95599, "Agricultural Bank of China's micro bank" and other channels. From September 15, 2023, you can query whether the interest rate of your existing housing loan meets the conditions for reduction and the extent of reduction.  

The announcement stressed that, according to the requirements of the Notice of the People's Bank of China and the State Financial Supervision and Administration on Matters Related to Reducing the Loan Interest Rate of the First Housing Stock, two methods can be adopted, namely, changing the loan interest rate and replacing the newly issued loan, and the results of the two methods are consistent. From the perspective of operational convenience, the latter requires more processes and takes a long time. In order to facilitate customers, Agricultural Bank of China mainly adopts the method of changing loan interest rates. The Agricultural Bank of China will take the initiative to reduce in batches from September 25, 2023, without customer application.  

Bank of China

Screenshot of the official website of Bank of China

The Bank of China announced that the Bank of China will carry out the interest rate adjustment of the first housing loan in stock from September 25, 2023.

The announcement points out that the scope of adjustment is commercial individual housing loans that have been issued and signed by the Bank of China but have not been issued before August 31, 2023 (inclusive), and meet one of the following two conditions: first, the number of units when individual housing loans are issued is the first housing loan; Second, the number of individual housing loans issued is two or more housing loans, but it is in line with the city's first housing loan policy.

The announcement made it clear that customers do not need to submit an application for the first housing loan in stock that meets the conditions, and Bank of China will uniformly adjust it through batch adjustment. For eligible loans of second set of housing and above in stock, the customer shall actively apply to the Bank of China for interest rate adjustment, provide supporting materials, and adjust them in batches or in a single transaction after approval.

bank for economic construction

Screenshot of CCB official website

According to the announcement issued by China Construction Bank, the loans that meet the scope of this adjustment refer to the following two situations: first, the first commercial individual housing loan for housing issued before August 31, 2023 and the first commercial individual housing loan for housing that has signed a contract but has not been issued; The second is the commercial individual housing loan for other stock housing that does not meet the first housing standard when the loan is issued or the contract is signed before August 31, 2023, but the actual housing situation of the borrower meets the first housing standard of the city. For loans that meet the scope of this adjustment, if the number of days in arrears exceeds 90 consecutive days, they will not be adjusted until the arrears are paid off, but can be adjusted after the arrears are paid off. In case of special circumstances, the loan agency can be consulted.

The announcement clearly stated that on September 25, 2023, CCB planned to uniformly adjust the floating rate loans in line with the situation of "commercial personal housing loans for the first set of housing issued before August 31, 2023 and the first set of housing that has signed a contract but has not been issued" by changing the contract interest rate, and the new interest rate will take effect immediately. Customers who do not agree to the adjustment or plan to adopt the replacement method can contact the loan agency.

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