China to cut individual housing provident fund loan rates by 0.25 percentage points
Time:2024-05-19 14:05:41 Source:styleViews(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:Cannes Film Festival: See the red carpet photos from week 1
Next:NASCAR hopes repaved track, softer tires make for more competitive All
You may also like
- China's power generation up 3.1% in April
- Foreign retailers buoyant on Chinese market
- Economic blueprint enthuses MNC execs
- Inbound tour orders from 6 EU nations rise
- Blinken reiterates US opposition to Rafah invasion
- Manufacturing access latest opening
- Xi Meets President of Brazil's Chamber of Deputies
- New bright spots shine in pressured trade scene
- NYC firefighter who collapsed in burning home likely saved by smoke inhalation drug