This morning, Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank issued an announcement on the adjustment of the interest rate of the first set of personal housing loans in stock, which clarified which loans can be adjusted, how to adjust, when to start adjustment, and the most important point is that some banks have clarified: "For eligible stock first home loans, customers do not need to submit an application, and banks will adjust them through batch adjustment." ”
Announcement of the Bank of China on the adjustment of interest rates for the first set of existing housing loans
Dear Bank of China Customers,
In order to implement the decision-making and deployment of the Party Central Committee and the State Council, adhere to the positioning that houses are for living, not for speculation, and actively play the role of finance in improving people's livelihood and expanding consumption, in accordance with the requirements of the Notice of the State Financial Regulatory Administration on Matters Related to Reducing the Interest Rate of the First Housing Loan in Stock People's Bank of China, the Bank will carry out the adjustment of the interest rate of the first set of housing loans in stock from September 25, 2023, and hereby announces the following specific matters.
1. Adjust the scope
Before August 31, 2023 (inclusive), the Bank has issued and signed a contract but has not yet issued a commercial personal housing loan, and meets one of the following two conditions:
1. The nature of the number of sets of personal housing loans is the first set of housing loans when they are issued;
2. The nature of the number of sets of personal housing loans is two sets of housing loans or more at the time of issuance, but it has now complied with the first set of housing loan policies in the city.
2. Adjustment of rules
(1) Loan Market Quotation Rate (LPR) loans
For loans issued before October 7, 2019 (inclusive), if the lower limit of the local first housing loan interest rate policy (referred to as the "local lower limit") is higher than the LPR, the loan increase will be adjusted to the local lower limit; Otherwise, if the loan interest rate is higher than LPR, the loan increase will be adjusted to 0 (i.e. LPR+0BP), and if the loan interest rate is lower than LPR, it will not be adjusted.
For loans issued from October 8, 2019 (inclusive) to May 14, 2022 (inclusive), if the local lower limit is higher than the lower limit of the national first home loan interest rate policy (referred to as the "national lower limit"), the loan increase will be adjusted to the local lower limit; Otherwise, if the loan interest rate is higher than the national lower limit, the loan increase rate will be adjusted to the national lower limit (i.e. LPR+0BP), and if the loan interest rate is lower than the national lower limit, it will not be adjusted.
For loans issued after May 15, 2022 (inclusive), if the local floor is higher than the national lower limit, the loan increase will be adjusted to the local lower limit; Otherwise, if the loan interest rate is higher than the national lower limit, the loan increase rate will be adjusted to the national lower limit (i.e. LPR-20BP), and if the loan interest rate is lower than the national lower limit, it will not be adjusted.
(2) PBOC benchmark rate loans
PBoC's benchmark rate loans will first be converted into floating rate loans priced at the Loan Market Quotation Rate (LPR) in accordance with the requirements of People's Bank of China Announcement [2019] No. 30, and then the interest rate of existing housing loans will be adjusted.
(3) Fixed-rate loans
Fixed rate loans are first converted into variable rate loans priced at the Loan Market Quotation Rate (LPR) in accordance with the requirements of People's Bank of China Announcement [2019] No. 30, and then the interest rate of existing housing loans is adjusted.
(4) Non-performing loans
Non-performing personal housing loans will not be subject to interest rate adjustment for the time being, and the interest rate of existing housing loans will be adjusted after the customer returns the outstanding principal and interest and the loan status returns to normal.
3. Adjustment methods
According to the requirements of the People's Bank of China's announcement, interest rate adjustments can be made by changing the interest rate level agreed in the contract or replacing the newly issued loan. In line with the principle of providing customers with efficient and convenient financial services, the Bank tries its best to reduce customer adjustment costs, and will mainly adopt the method of changing the interest rate level agreed in the contract.
1. For eligible existing first housing loans, customers do not need to submit an application, and our bank will adjust them through batch adjustment.
2. For eligible existing loans of two houses and above, the customer shall actively apply to our bank for interest rate adjustment, provide supporting materials, and adjust it in batch or single transaction after approval by our bank.
4. Acceptance channels and time arrangement
1. Customers with the first set of existing housing loans do not need to apply, our bank will adjust it centrally on September 25, 2023, and the interest rate will be adjusted according to the new interest rate level from the same day, and the previous interest will be calculated according to the original contract interest rate level.
2. For mortgage customers with two or more sets of mortgages who meet the adjustment conditions, fixed interest rate or benchmark interest rate pricing, complete LPR conversion, and return the outstanding principal and interest of non-performing loans, they can apply to our bank from September 25 to October 22, 2023 (inclusive). On October 25, the Bank will make a centralized adjustment to the accepted and approved interest rate, and the interest rate adjustment will be implemented at the new interest rate level from the same day, and the previous interest will be calculated according to the original contract interest rate level.
3. After the centralized adjustment, the Bank can still accept the application for the adjustment of the interest rate of the existing housing loan, and the customer can go to the loan handling institution for handling, and the Bank will approve it one by one, and adjust it immediately after the approval is passed, and the interest rate adjustment will be implemented according to the new interest rate level from the same day, and the previous interest will be calculated according to the original contract interest rate level.
4. Mortgage customers with two or more sets of mortgages that meet the adjustment conditions, fixed interest rate or benchmark interest rate pricing, and complete LPR conversion and return of the outstanding principal and interest of non-performing loans can submit applications through online (mobile banking) and offline (loan handling institutions) channels, but need to submit relevant supporting materials through offline (loan handling institutions) channels.
5. Warm reminder
1. From September 25, you can log in to the Bank of China mobile banking APP and inquire whether the mortgage under your name meets the adjustment conditions, adjustment progress and adjustment results under the "Loan-Mortgage Interest Rate Adjustment" module.
2. After the interest rate of the existing housing loan is adjusted in batches, our bank will inform the interest rate adjustment result through SMS. If there is any objection to the interest rate adjustment, you can contact the loan handling institution within one month after the interest rate adjustment, otherwise it is deemed to have agreed to the interest rate adjustment.
3. The interest rate adjustment of our bank's existing housing loan this time adopts the form of adjusting the loan plus point value, and other contract elements (such as loan balance, remaining term, repricing date, repricing cycle), etc. remain unchanged, and no repeated adjustments will be made after the adjustment is completed.
4. In order to implement the People's Bank of China's convenient borrower orientation, borrowers do not need to re-sign loan contracts and supplementary agreements.
5. In the adjustment of the interest rate of the first set of housing loans in this stock, our bank does not charge any fees.
If you have any questions, please call 95566 customer service or consult your loan dealer.
This is hereby announced
Bank of China Corporation Limited
September 7, 2023
Announcement by the Industrial and Commercial Bank of China on the adjustment of interest rates for the first set of existing personal housing loans
Dear ICBC customers,
In order to implement the decision-making and deployment of the Party Central Committee and the State Council, and give full play to the role of finance in serving the real economy, supporting the recovery and expansion of consumption, ensuring and improving people's livelihood, etc., the Bank conscientiously implements the requirements of the Notice of the People's Bank of China State Financial Regulatory Administration on Matters Related to Reducing the Interest Rate of the First Set of Existing Housing Loans, and actively and orderly promotes the adjustment of the interest rate of existing personal housing loans in accordance with the law. From September 25, 2023, the Bank will negotiate and adjust the loan execution interest rate with existing personal housing loan customers, and in order to assist our customers to do a good job in adjusting the interest rate of existing personal housing loans, the relevant matters are hereby announced as follows.
First: general principles
In accordance with the principles of marketization and rule of law, promote the adjustment of existing housing loan interest rates in an orderly manner in accordance with the law, fully protect customer contractual rights, fully respect customer choices, and fully meet customer interest rate adjustment operation convenience.
Two: Adjust the range
At the same time, personal housing loans that meet the following conditions can carry out the adjustment of the interest rate of existing housing loans:
(1) The loan disbursement time or contract signing time is before August 31, 2023 (inclusive).
(2) Commercial personal housing loans for the purpose of purchasing residential buildings, including ordinary purely commercial personal housing loans and commercial personal housing loans in provident fund portfolio loans.
(3) Must be the first set of personal housing loans, specifically including the following circumstances:
1. Housing loans that meet the interest rate standard of the first home loan in the city where the original loan is issued;
2. At the time of house purchase, the family did not have other complete houses in the local area, but because the local government adopted the policy of "recognizing the house and recognising the loan", the housing was processed according to the standard of the interest rate of the second house loan, and now the local government implements the policy of "recognizing the house but not the loan";
3. The house is not the only complete housing in the local area when the house is purchased, but other complete houses are sold through transactions and other methods in the later stage, and the house becomes the only complete housing of the family in the local area and the local government implements the policy of "recognizing the house but not recognizing the loan";
4. Other existing housing loans that meet the interest rate standard of the first home loan in the city.
(4) In principle, it should be a normal personal housing loan that repays the principal and interest in full every month, and if the loan is currently in a bad state, the customer must return the outstanding principal and interest before applying for interest rate adjustment.
Three: Adjust the rules
(1) The level of the adjusted interest rate
For existing personal housing loans that meet the requirements of this announcement, the minimum can be adjusted to the lower limit of the interest rate policy of the first home loan in the city where the original loan was issued, and the specific adjustments are made according to the following circumstances.
1. Floating rate loans issued before October 8, 2019 (excluding that day) and converted into loan market quotation rate (LPR) pricing in accordance with the requirements of People's Bank of China Announcement [2019] No. 30 can be adjusted to the corresponding term LPR without adding points, and if the lower limit of the first home loan interest rate policy in the city where the original loan is issued is converted to LPR plus points, it shall be implemented according to the lower limit of the first home loan interest rate policy of the city where it is located at the time of issuance.
2. Floating rate loans issued from October 8, 2019 (inclusive) to May 14, 2022 (inclusive) and subject to LPR pricing can be adjusted to the lowest limit of the national first home loan interest rate policy, that is, the corresponding term LPR does not add points, and if the lower limit of the first home loan interest rate policy in the city where the original loan is issued is higher than the LPR, it shall be implemented according to the lower limit of the first home loan interest rate policy of the city where the original loan is issued.
3. Floating rate loans issued after May 14, 2022 (excluding that day) that implement LPR pricing can be adjusted to the lowest limit of the national first home loan interest rate policy, that is, the corresponding term LPR-20BP, and if the lower limit of the first home loan interest rate policy in the city where the original loan is issued is higher than LPR-20BP, it shall be implemented according to the lower limit of the first home loan interest rate policy in the city where it is issued at the time of issuance.
4. For details of the historical adjustment of the lower limit of the first home loan interest rate policy in each city, please refer to the website of the provincial branch of the local People's Bank of China.
5. Loans whose execution rate has been the lower limit of the interest rate policy of the first home loan in the city where the loan is issued, or loans issued before May 14, 2022 (inclusive), currently priced with LPR floating interest rate and the interest rate is not higher than LPR, or loans issued after May 14, 2022 (excluding that day), or loans that are still part of the second home loan interest rate standard according to the latest policy of the city, will not be subject to interest rate adjustment.
(2) Interest rate adjustment methods
According to the existing personal housing loans, the Bank will adjust the interest rate by changing the interest rate level agreed in the contract or replacing the newly issued loan:
1. Negotiating to change the contract interest rate means that the Bank and the customer negotiate to reduce the interest rate level agreed in the loan contract;
2. Replacement of newly issued loan refers to a new loan issued by the Bank, and the customer uses this loan to replace the existing first home loan.
4. Application method and adjustment time
(1) Application method
1. For floating interest rate existing housing loans that implement the interest rate policy of the first home loan in the city where the original loan is issued and are currently priced by LPR, our bank will take the initiative to adjust the loan interest rate in batches according to the above adjustment rules, and if there are special needs, you can contact the original loan service bank.
2. The interest rate standard of the second home loan shall be implemented at the time of the original loan issuance, and the existing housing loan that has met the interest rate standard of the first home loan in the city where it is located as described in this announcement, that is, the existing housing loan that has been "transferred from the second set to the first set", or the existing housing loan that returns the principal and interest owed by the non-performing loan, shall be actively applied to our bank for interest rate adjustment, and the loan interest rate shall be adjusted according to the above adjustment rules after the bank reviews and meets the conditions.
3. Existing housing loans currently priced at fixed interest rates or benchmark interest rates need to be actively applied for interest rate adjustment by the Bank, and first converted into LPR-priced floating rate loans in accordance with the relevant requirements of People's Bank of China Announcement [2019] No. 30, and then adjust the loan interest rate according to the above adjustment rules.
4. For special circumstances, if a new loan replacement method is required, the loan service bank will contact the customer for handling.
(2) Application and adjustment time
1. For existing housing loans that implement the first home loan interest rate standard at the time of the original loan issuance, our bank will adjust the contract loan interest rate in batches on September 25, 2023, and implement the new interest rate level from the same day after batch adjustment, and the previous interest will be calculated according to the original contract interest rate level.
2. Existing mortgage customers who are currently pricing at fixed or benchmark interest rates can apply to the Bank from September 25, 2023 onwards. Among them, if the application is completed before October 22, 2023 (inclusive), the Bank will carry out a centralized and unified interest rate adjustment for the approved business on October 25, 2023, and the interest rate adjustment will be implemented at the new interest rate level from the same day, and the previous interest will be calculated according to the original contract interest rate level.
3. Customers who apply for interest rate adjustment after October 22, 2023, including existing mortgage customers who have added the "second set to the first set", returned the outstanding principal and interest of non-performing loans, and are currently pricing at fixed interest rates or benchmark interest rates, can continue to apply to the Bank. The Bank will conduct manual review one by one, and the new interest rate level will be implemented from the next day after the approval is approved, and the interest will be calculated according to the original contract interest rate level.
5. Application channels
(1) Online channels: mobile banking
Our mobile banking supports "one-click application", the specific application path is: download the ICBC APP - login/registration - loan - existing housing loan interest rate adjustment - one-click application. The application for the "second set to the first set" business requires customers to upload the first set of housing loan certification materials at the same time. Existing mortgage customers who repay the outstanding principal and interest of non-performing loans and are currently priced at a fixed or benchmark interest rate do not need to upload supporting documents.
(2) Offline channels
Customers can click "Finance-Personal Loan-Loan Service Bank Consultation Phone Inquiry" through the WeChat official account of "Industrial and Commercial Bank of China Customer Service" to view the contact information of all loan service banks of our bank, and can apply for interest rate adjustment offline at the original loan service bank. The application for the "second set to the first set" business requires the customer to bring his ID card, the first set of housing loan certificate and other materials.
6. Service notification methods and objection handling
(1) After the interest rate of the existing housing loan is adjusted, the Bank will inform the customer of the interest rate adjustment result through SMS, and the customer can check the interest rate adjustment result in the "Stock Housing Loan Interest Rate Adjustment" column of Mobile Banking, or check the adjusted loan interest rate and repayment plan through the "Loan - My Loan" column of Mobile Banking or Internet Banking. If you disagree with the interest rate adjustment, you can contact the loan service within one year after the interest rate adjustment.
(2) The application for interest rate adjustment of "second set to first set" shall be reviewed by the Bank one by one, and customers can check the review results through the "Interest Rate Adjustment of Existing Housing Loans" column of Mobile Banking. If the audit is not passed, the Bank will inform the customer by SMS, if there is any objection to the review result, the loan service bank can be contacted and the application can be resubmitted as required.
Seven: Tips
(1) Priority is given to recommending customers to apply through mobile banking, and there may be system congestion during the peak period of interest rate adjustment.
(2) Due to the large scale of the batch adjustment of interest rates, SMS delivery may be sent in batches, the time limit lags, etc., and there may be situations such as failure to deliver SMS due to the customer's failure to update the contact information of housing loan business to our Bank.
(3) There is no charge for this adjustment of the interest rate of the existing housing loan, please do not trust the phone calls or text messages of people outside our bank.
(4) The adjustment of the interest rate of existing housing loans does not support interbank replacement, please do not believe the misleading information.
(5) The Bank has sorted out the frequently asked questions and answers on the interest rate adjustment of existing personal housing loans, which customers can check through the "Industrial and Commercial Bank of China Customer Service" WeChat public account and click "Finance-Personal Loan".
If you have any other questions, please consult the loan service bank or 95588.
Thank you for your trust and support!
Industrial and Commercial Bank of China Limited
September 7, 2023
Announcement of the Agricultural Bank of China on operational matters related to the reduction of the interest rate of the first home loan in stock
Dear Customer:
In order to implement the requirements of the Notice of the People's Bank of China State Financial Regulatory Administration on Matters Related to Reducing the Interest Rate of the First Housing Loan in Stock (hereinafter referred to as the "Circular") and better serve customers, the Bank hereby announces the following operational matters related to the reduction of the interest rate of the first home loan in stock:
1. Adjust the scope
Commercial personal housing loans for the first housing that the Bank has issued and signed a contract but has not yet issued before August 31, 2023 (inclusive), or other existing commercial personal housing loans for existing housing where the borrower's actual housing situation meets the first housing standard in the city where he or she is located. The latter includes the following situations: First, the family does not have other complete houses in the local area when the house is purchased, but because the local government adopts the policy of "recognizing the house and recognising the loan", the housing is processed according to the standard of the second home loan interest rate, and now the local government implements the policy of "recognizing the house but not recognizing the loan". Second, when the house is purchased, it is not the only complete housing in the local area of the family, but other complete houses are sold through transactions and other methods in the later stage, and the house becomes the only complete housing of the family in the local area, and the local government implements the policy of "recognizing the house but not recognizing the loan". The third is other existing housing loans that meet the interest rate standard of the first set of housing loans in the city where the house is located. For cities where the local government has not yet clarified whether to implement the policy of "recognizing housing but not recognizing loans", it can be implemented in accordance with the Notice and this announcement after the local policy is determined.
2. Adjustment of rules
According to the requirements of the Circular, the adjusted interest rate of the commercial personal housing loan for the first home in stock shall not be lower than the lower limit of the interest rate policy for the commercial personal housing loan for the first home in the city where the original loan was issued. The lower limit of the interest rate policy for the first set of housing loans in each city shall be subject to the official website of the provincial branches of the People's Bank of China.
In August 2019, the People's Bank of China issued Announcement No. 16, starting from October 8, 2019, the lower limit of the interest rate policy for the first home loan in the country is LPR. In May 2022, the People's Bank of China and the former China Banking and Insurance Regulatory Commission issued the Notice on Issues Related to the Adjustment of Differentiated Housing Credit Policies (Yinfa [2022] No. 115), starting from May 15, 2022, the lower limit of the national first home loan interest rate policy will be adjusted to LPR minus 20 basis points.
The rules for adjusting the interest rate of commercial personal housing loans for the first home in stock are as follows:
1. For the first set of existing personal housing loans issued before October 7, 2019 (inclusive) and converted into the loan market quotation rate (LPR) pricing in accordance with the requirements of Announcement No. 30 of 2019 of the People's Bank of China, the interest rate level will be adjusted to the LPR corresponding to the original loan contract term (that is, the increment range is 0); If the lower limit of the interest rate policy of the first home loan in the city where the loan is issued is higher than the LPR corresponding to the term of the original loan contract, the lower limit of the local first home loan interest rate policy at the time of issuance shall be implemented. If the interest rate level after LPR conversion is not higher than the LPR corresponding to the term of the original loan contract or is not higher than the lower limit of the interest rate policy for the first home loan in the city where the loan is issued, no adjustment will be made.
2. For the stock of first set of personal housing loans issued from October 8, 2019 (inclusive) to May 14, 2022 (inclusive), the interest rate level will be adjusted to the lower limit of the national first home loan interest rate policy, that is, the LPR corresponding to the original loan contract term (i.e. the increase point range is 0); If the lower limit of the interest rate policy of the first home loan in the city where the loan is issued is higher than the LPR corresponding to the term of the original loan contract, the lower limit of the local first home loan interest rate policy at the time of issuance shall be implemented. If the interest rate level is not higher than the LPR corresponding to the term of the original loan contract or is not higher than the lower limit of the interest rate policy for the first home loan in the city where the loan is issued, no adjustment will be made.
3. For the stock of first set of personal housing loans issued from May 15, 2022 (inclusive) to August 31, 2023 (inclusive), the interest rate level will be adjusted to the lower limit of the national first home loan interest rate policy, that is, the LPR corresponding to the original loan contract term minus 20 basis points; If the lower limit of the interest rate policy of the first home loan in the city where the loan is issued is higher than the LPR minus 20 basis points corresponding to the term of the original loan contract, the lower limit of the local first home loan interest rate policy at the time of issuance shall be implemented. If the interest rate level is not higher than the LPR corresponding to the original loan contract term minus 20 basis points or not higher than the lower limit of the interest rate policy for the first home loan in the city where the loan is issued at the time of loan issuance, no adjustment will be made.
3. Service channels and time
(1) Service channels.
In the future, our bank will provide inquiry and other services through PALM Bank, loan handling bank, business outlets, 95599, "Agricultural Bank of China Micro Bank" and other channels, and you can inquire whether the interest rate of your existing housing loan meets the conditions for reduction and the extent of the reduction from September 15, 2023.
(2) Adjustment and effective time.
1. According to the requirements of the Circular, two methods can be adopted: changing the loan interest rate and replacing the newly issued loan, and the results of the adjustment of these two methods are consistent. From the point of view of the convenience of operation, the latter requires more processes and takes a long time, in order to facilitate customers, our bank mainly adopts the method of changing the loan interest rate. Our bank will take the initiative to carry out batch reduction from September 25, 2023, without customer application.
2. If the customer needs to issue a new loan for replacement, please submit a written application to the loan handling bank from September 25, 2023.
3. Customers who are not within the scope of adjustment after inquiry, but the current actual housing situation has met the first housing standard of the city where the house is located, can log in to our bank from September 25, 2023 (inclusive) to October 22, 2023 (inclusive), self-initiate the first housing interest rate standard recognition application, and submit relevant supporting materials such as the letter of commitment recognized by the loan handling bank, the inquiry results of the number of family housing units and other relevant supporting materials online (the specific list of materials will be released in the near future, please pay attention). Customers can also apply to the loan handling bank offline and submit materials. If it is determined to meet the conditions of the Notice, batch adjustments will be made from October 25, 2023. If the application is submitted after October 23, 2023 (inclusive), the Bank will complete the determination within 10 working days, and adjust the application in a timely manner if it meets the conditions of the Notice. Customers can check the progress at our mobile bank or loan handling bank.
4. The reduction of the interest rate of the existing housing loan will take effect on the date of the adjustment, and the effective date will be implemented in accordance with the new interest rate increase range, and the pricing benchmark LPR will be adjusted according to the agreed repricing rules. The adjustment of the interest rate of the existing mortgage is not retroactive, and the interest rate of the previous mortgage will not be adjusted.
4. Other matters
(1) Customers with fixed interest rates or floating rate loans priced with reference to the benchmark interest rate of the loan shall be handled in the following manner:
1. In accordance with the relevant requirements of the Circular and Announcement No. 30 of 2019 of the People's Bank of China, fixed rate loans that meet the interest rate policy of the first set of housing loans and do not use LPR as the pricing basis or floating rate loans priced with reference to the loan benchmark interest rate need to apply for conversion to LPR as the pricing basis before making interest rate adjustments; If you do not apply for conversion, you will not be able to handle it.
2. Fixed rate loans are converted to LPR pricing basis floating rate loans, the repricing date is January 1 of the following year, and the repricing cycle is 12 months. A variable rate loan priced with reference to the benchmark interest rate of the loan is converted to a floating rate loan based on LPR, and the repricing date and repricing cycle are consistent with the original contract.
3. Customers who comply with the interest rate policy of the first set of housing loans at the time of loan issuance and need to undergo pricing benchmark conversion can submit a written conversion application to the loan handling bank before September 22, 2023 (excluded), and be included in the scope of batch adjustment on September 25, 2023; If the transfer application is submitted later, the Bank will complete the conversion procedures in a timely manner after September 25, 2023 (excluded) and reduce the pricing level. From 25 September 2023, the Bank will provide online conversion application service.
4. For customers whose current actual housing situation meets the first housing standard in the city where they are located and need to carry out pricing benchmark conversion, they need to apply for pricing benchmark conversion together with the application for the first set of recognition, and if the recognition is approved, the conversion of interest rate pricing benchmark will be carried out simultaneously with the adjustment of the loan interest rate level.
5. According to the relevant requirements of Announcement No. 30 of 2019 of the People's Bank of China, the pricing benchmark can only be converted once, and cannot be converted again after conversion.
(2) The scope of this adjustment does not include: personal housing provident fund loans (including the provident fund loan part of the portfolio loan), personal commercial housing loans (including commercial and residential housing), and other personal loans that do not meet the requirements of the Circular.
5. Solemnly reminded
(1) After the issuance of this announcement, if customers have objections to the above-mentioned batch reduction arrangement, they can submit a written objection application to the loan handling bank before September 20, 2023 (excluded), and the Bank will not be included in the batch adjustment; If no objection is raised within the aforementioned specified period, it is deemed to have agreed to carry out the batch reduction in accordance with this announcement. After the batch reduction, if the adjustment is not accepted, the customer can contact the loan handling bank within 7 days of the adjustment to apply for cancellation. Stay tuned.
(2) In the process of adjusting the interest rate of the first set of existing personal housing loans for customers, the Bank does not charge any fees. In order to protect the security of your property and information to the greatest extent and prevent criminals from committing fraud activities on the grounds of interest rate adjustments, please do not trust the phone calls or text messages of people outside our official channels.
Thank you for your understanding and support. If you need help, you can consult through Pocket Bank, loan handling bank, business outlet, 95599, "Agricultural Bank of China Micro Bank", "Agricultural Bank of China Cloud Customer Service". If you have not installed our mobile bank, you can scan and download it in advance, see below for the QR code.
Agricultural Bank of China Limited
September 7, 2023
Announcement of China Construction Bank on clarifying specific matters related to the adjustment of interest rates for the first set of housing loans in stock
Dear China Construction Bank Customers,
On August 31, 2023, following the issuance of the Notice of the People's Bank of China State Financial Regulatory Administration on Matters Related to Reducing the Interest Rate of the First Housing Loan in Stock (hereinafter referred to as the "Notice"), the Bank issued the Announcement of China Construction Bank on Matters Related to Reducing the Interest Rate of the First Housing Loan in Stock. In order to respond to people's livelihood concerns and serve the people to live in peace, the relevant matters related to the adjustment of the interest rate of the first set of housing loans in stock are hereby announced as follows:
1. Loans that meet the scope of this adjustment refer to loans in the following two situations:
(1) The first set of commercial personal housing loans that have been issued before August 31, 2023 and have signed contracts but have not been issued.
(2) Other stock housing commercial personal housing loans that do not meet the first housing standard when the loan is issued or signed before August 31, 2023, but the actual housing situation of the borrower meets the first housing standard in the city where the borrower is located.
Loans that meet the scope of this adjustment, if the number of consecutive days in arrears exceeds 90 days, will not be adjusted until the arrears are repaid, and can be adjusted after the arrears are repaid. If there are special circumstances, you can consult the loan handling agency.
2. In Announcement No. 16 of 2019 of the People's Bank of China, it is clarified that from October 8, 2019, the interest rate of newly issued commercial personal housing loans thereafter shall be formed by adding points to the loan market quotation rate (LPR) of the corresponding term in the latest month, and the interest rate of the first set of commercial personal housing loans shall not be lower than the corresponding term LPR, and the mechanism of housing loan interest rate using LPR as the pricing benchmark will gradually form and improve.
Under the circumstance that LPR effectively deepens the market-oriented reform of interest rates and guides the real interest rate of loans downward, comprehensively considering factors such as maintaining policy continuity, unification of standards before and after, fairness and consistency, and self-discipline mechanism, and following the principles of marketization and rule of law, the interest rate of the Bank's first set of existing housing loans is proposed to be adjusted as follows:
(1) Variable rate loans
1. For those issued before October 7, 2019 (inclusive), the adjusted interest rate shall be implemented according to the LPR interest rate of the corresponding term (original loan contract term).
2. For those issued from October 8, 2019 (inclusive) to May 14, 2022 (inclusive), the adjusted interest rate shall be implemented according to the lower limit of the national first home loan interest rate policy, that is, the corresponding term (original loan contract term) LPR interest rate; From May 15, 2022 (inclusive) to August 31, 2023 (inclusive), the adjusted interest rate shall be implemented according to the lower limit of the national first home loan interest rate policy, that is, the corresponding term (original loan contract term) LPR-20 basis points.
If within the above time period, the lower limit of the interest rate policy of the first set of housing loans in the city where the loan is located is higher than the above adjusted level to be implemented, the adjusted interest rate shall be implemented according to the lower limit of the corresponding policy. The lower limit of the interest rate policy for the first set of housing loans in each city shall be subject to the official website of the provincial branches of the People's Bank of China.
(2) Loans issued before October 7, 2019 (inclusive) and currently priced at the benchmark interest rate, as well as fixed-rate loans, can apply to be converted to floating rate loans priced by LPR, and an agreement is signed to implement the corresponding floating interest rate adjustment in "2. (1)" above after conversion; If you still choose to continue with the fixed rate or use the benchmark rate pricing, this time there will be no adjustment.
If the current strike rate is lower than the level of the interest rate adjusted in the above situation, it will not be adjusted.
3. According to the requirements of the Circular, this adjustment can be done by replacing the newly issued loan or negotiating to change the contract interest rate, and the adjusted interest rate level of the two methods is the same. In line with the principle of making customers more convenient, more concise in operation and more efficient in service, the Bank intends to adopt the following adjustment methods:
On September 25, 2023, the Bank intends to uniformly adjust the contract interest rate for floating rate loans that meet the circumstances of "I. (1)" of this announcement, and the new interest rate will take effect immediately. Customers who do not agree with the adjustment or intend to adopt the replacement method adjustment can contact the loan handling agency.
From 25 September 2023, the Bank will accept applications under the following two circumstances:
(1) In accordance with the circumstances of "I. (2)" of this announcement, that is, if the first housing standard is not met at the time of loan issuance or contract signing, but the current actual housing situation meets the first housing standard in the city where it is located, the borrower must provide relevant supporting materials for the first housing when applying.
(2) For loans with fixed interest rates or benchmark interest rates, borrowers may apply to convert to variable rate loans priced by LPR and sign an agreement with the Bank.
Applications submitted before October 22, 2023 (inclusive) for the above two situations are confirmed to meet the conditions, and it is proposed to adopt the method of changing the contract interest rate for unified adjustment on October 25, 2023, and the new interest rate will take effect on the same day.
Submissions submitted after October 23, 2023 (inclusive), review will begin on October 25, 2023, and will be adjusted on the day after the conditions are confirmed, and the new interest rate will take effect on the same day.
If you repay the delinquent and eligible loans after October 25, 2023 (inclusive), you must apply for it, and after review and confirmation, it will be adjusted on the same day, and the new interest rate will take effect on the same day.
In the above cases, according to laws and regulations, contractual agreements, customer wishes, etc., the Bank will also provide new loan replacement methods.
The details of the operation involving the customer will be further clarified later. Customers can inquire about the customer Q&A of the mortgage interest rate adjustment through the WeChat public account of "China Construction Bank Customer Service". In order to enhance the convenience of customer service, the Bank will successively open online channels such as mobile banking to provide services such as information inquiry and application acceptance. There is no charge for this existing mortgage interest rate adjustment. After the adjustment is successful, you can check the adjustment result and repayment plan through our relevant channels.
The Bank will be customer-centric, ensure that customers enjoy fair and consistent services, and actively do a good job in customer service to reduce the interest rate of the first home loan in stock. Thank you for your long-term strong support to CCB, if you have any questions, please contact the loan handling agency or call the 95533 customer service hotline.
This is hereby announced.
China Construction Bank Corporation
September 7, 2023
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Source: Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank
If there is any revelation, submission, business cooperation, or infringement, please contact the public account Yunnan Property Market Observation and Communication for handling.
The content of this article is for reference only, this number reserves the right of final interpretation, this number does not bear legal risks.