Four major banks clarify the interest rate adjustment of the first housing loan in stock

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Xinhua News Agency, Beijing, September 7 (Reporter Wu Yu) The four state-owned commercial banks of industry, agriculture, China and construction respectively issued announcements on the 7th, clarifying the matters related to the interest rate adjustment of the first housing loan in stock, answering the adjustment scope, adjusted interest rate level, adjustment method, etc., and responding to customer concerns in a timely manner.

According to the announcement of the four major banks, the scope of this adjustment is: commercial personal housing loans for the first housing issued before August 31, 2023 and the first housing that has signed a contract but has not been issued. If the loan does not meet the first housing standard when issuing or signing the contract, but has met the first housing loan policy of the city, it also meets the scope of this adjustment.

This time, the four major banks clarified the adjustment rules. The adjusted interest rate level is related to the time of loan issuance and the lower limit of the interest rate policy for the first house loan in the city.

According to the announcement, for the floating rate loans issued before October 8, 2019 (excluding that day), which have been converted to the pricing of the loan market quoted rate (LPR), and the loans issued from October 8, 2019 (including that day) to May 14, 2022 (including that day), the lowest interest rate can be adjusted to the corresponding period LPR without adding points. If the lower limit of the interest rate policy for the first house in the city where the loan is issued is higher than the lower limit of the national policy, the lower limit of the interest rate policy for the first house in the city where the loan is issued shall prevail.

For those that have been issued from May 15, 2022 (inclusive) to August 31, 2023 (inclusive) or have signed a contract but have not been issued, the minimum interest rate can be adjusted to the corresponding period LPR minus 20 basis points; If the lower limit of the interest rate policy for the first house in the city where the loan is issued is higher than the lower limit of the national policy, the lower limit of the interest rate policy for the first house in the city where the loan is issued shall prevail.

It is worth noting that in any case, if the loan interest rate is lower than the national lower limit, the bank will not make any adjustment. For loans priced at benchmark interest rate and fixed interest rate loans, banks said that they could apply for conversion to floating rate loans priced at LPR, and then adjust them at floating rate.

This time, the four major banks mainly adopt the method of changing the contractual interest rate level. Most banks will take the initiative to reduce in batches from September 25, 2023, without the need for customers to apply. However, if the customer needs to issue new loans for replacement, or "second to first" and other special circumstances, it needs to submit a written application to the loan handling bank.

The four major banks all said that they would not charge any fees in the process of adjusting the interest rate of the first individual housing loan in stock. If you have any questions, please consult the loan agency or call the customer service hotline.

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