Decrease by 0.25 percentage points! Beijing Housing Provident Fund Loans Implement New Interest Rates
On May 18, the reporter called the Beijing Housing Provident Fund Management Center. The staff said that the new interest rate for Beijing Housing Provident Fund loans had been implemented, which was reduced by 0.25 percentage points. Currently, the interest rate for provident fund loans for first-time personal housing less than five years old is adjusted to 2.35%, and for more than five years it is adjusted to 2.85%.
On May 17, the People's Bank of China issued the "Notice on Lowering the Interest Rate of Personal Housing Provident Fund Loans". Starting from May 18, 2024, the interest rate of personal housing provident fund loans will be reduced by 0.25 percentage points. On May 18, Beijing began to implement new housing provident fund loan interest rates.
Staff at the Beijing Housing Provident Fund Management Center stated that for personal housing provident fund loans that have been issued before May 18, 2024, the original personal housing provident fund loan interest rate standards will still be implemented, and the adjusted personal housing provident fund loans will be implemented from January 1, 2025. Interest rate standards. For personal housing provident fund loans that have been accepted but not disbursed before May 18, 2024, and personal housing provident fund loans accepted after May 18, 2024, the adjusted personal housing provident fund loan interest rate standards will be implemented.
Among them, the provident fund loan interest rates for the first personal housing units of less than 5 years and more than 5 years are adjusted to 2.35% and 2.85% respectively, and the provident fund loan interest rates of the second personal housing units of less than 5 years and more than 5 years are adjusted to no less than 2.775% and 3.325 respectively. %.
The staff also said that the borrower does not need to apply separately, and the loan interest rate will be automatically lowered. If the borrower does not change the monthly repayment amount, it will automatically be calculated as overpaying the principal and underpaying the interest.
According to the reporter's calculations, taking a first-time home with a loan amount of 1 million yuan and a loan period of 30 years as an example, if the free repayment method is used, the minimum repayment amount before the interest rate adjustment is 3,834 yuan, and the minimum repayment amount after the adjustment is 3,680 yuan. The monthly repayment is 154 yuan. If the equal principal and interest repayment method is adopted, the minimum repayment amount before the interest rate adjustment is 4270.16 yuan and after the adjustment is 4135.57 yuan, which means the monthly repayment can be reduced by 134.59 yuan.
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