According to the website of the Ministry of Housing and Urban Rural Development, the General Office of the Ministry of Housing and Urban Rural Development recently issued a notice on doing a good job in lowering the interest rate of housing provident fund personal housing loans. The notice requires that the individual housing loan interest rate of housing provident fund be adjusted in a timely manner, and the individual housing loan policy of stock housing provident fund be well connected.

The notice requires to guide the urban housing provident fund management center to adjust the interest rate of individual housing loans of housing provident fund in a timely manner. According to the requirements of the Notice of the People's Bank of China on Lowering the Interest Rate of Personal Housing Provident Fund Loan, the interest rate of personal housing provident fund loan will be lowered by 0.25 percentage points from May 18, 2024, and the interest rate of the first personal housing provident fund loan of less than five years (including five years) and more than five years will be adjusted to 2.35% and 2.85% respectively, and the interest rate of the first personal housing provident fund loan of less than five years (including five years) The loan interest rate of the second set of personal housing provident fund and the second set of personal housing provident fund for more than five years are adjusted to not less than 2.775% and 3.325% respectively.

The notice requires that the urban housing provident fund management center should guide the policy convergence of individual housing loan interest rate adjustment of stock housing provident fund in accordance with the Business Specifications for Individual Housing Loan of Housing Provident Fund (GB/T 51267-2017), and the contract interest rate should be implemented for loans with a term of one year or less, and the interest should not be calculated in sections; If the loan term is more than one year, the new interest rate regulations shall be implemented according to the corresponding interest rate grades from January 1 of the next year, unless otherwise specified by the state.