A few days ago, all large state-owned banks, national joint-stock banks, and some urban commercial banks and rural commercial banks issued announcements on the batch adjustment of interest rates on existing personal housing loans, disclosing relevant operating rules. According to the announcement, the above-mentioned banks plan to adjust the interest rates of eligible stock mortgages in batches on October 25.
Specifically, the banks that have issued announcements include 6 large state-owned banks: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank.
12 national joint-stock banks: China Merchants Bank, China CITIC Bank, Industrial Bank, Shanghai Pudong Development Bank, Ping An Bank, Minsheng Bank, Everbright Bank, Zheshang Bank, Guangfa Bank, Hengfeng Bank, Huaxia Bank, Bohai Bank.
Some urban commercial banks and rural commercial banks, including Bank of Beijing, Bank of Shanghai, Bank of Jiangsu, Shanghai Rural Commercial Bank, Henan Rural Commercial United Bank, etc.
In order to provide efficient and convenient services and reduce customer adjustment costs, many banks adopt the method of changing the interest rate agreed in the contract to adjust the existing housing loans in batches, and customers do not need to apply for additional applications. However, for customers who have the need to "convert two sets to the first set" and "fixed-rate loans to floating-rate loans", they need to apply for relevant adjustments first.
Many banks remind customers that after the batch adjustment is completed, customers will be notified of the interest rate adjustment results through SMS, and customers can also check the adjustment results through mobile banking apps and other channels. If you have any objection to the interest rate adjustment, you can contact the loan handling bank after the interest rate adjustment. In this adjustment of the interest rate of the existing housing loans, the banks do not charge any fees.
According to the China Securities Journal, the reporter noticed that a number of banks have updated the App function and put on the shelves the exclusive module of the stock mortgage business, and some banks can now inquire about the specific situation of interest rate reduction.
Source: Screenshot of the bank app
"Early in the morning, I found out that the interest rate was about to be lowered, and the bank app showed that my loan interest rate would be reduced from 5.5% to 3.65%, and after calculating, the monthly payment was nearly 1,900 yuan." Mr. Sui from Deyang, Sichuan Province told reporters.
Image source: Courtesy of Mr. Sui
Mr. Sui told reporters: "In 2021, due to the need for his son's marriage, I bought a second house, and the loan interest rate from 6.15% was gradually reduced to 5.5% at the beginning, but I didn't expect that this time it could be directly reduced by another 185 basis points, and the monthly repayment burden was reduced a lot, and I was very content." ”
In recent years, the LPR has been continuously lowered and various favorable mortgage policies have been frequently introduced, the burden of mortgage interest rates on borrowers has been reduced, and many borrowers have dismissed the idea of prepayment.
Ms. Fan from Liuzhou, Guangxi Province, told reporters: "The mortgage interest rate was increased by 149 basis points before, but this time it can be directly reduced by 179 basis points, and the monthly pressure is much less, and you can not consider prepayment of the loan." ”
Yan Yuejin, vice president of Shanghai E-House Real Estate Research Institute, told reporters: "This is the second time in the country that the interest rate of the stock mortgage has been reduced in batches since last year, which has really reduced the burden of monthly payments for home buyers and loan repayment families." This reduction will help stabilize the scale of existing housing loans, increase the demand for new housing mortgage loans, and help banks prevent risks, expand their business, and truly promote the healthy development of housing loan business. ”
Except for the second or more sets of existing mortgages in Beijing, Shanghai and Shenzhen, the interest rate of the rest of the existing mortgages can be lowered to the interest rate level of LPR (loan prime rate) -30 basis points. The second or more existing housing loans in Beijing, Shanghai and Shenzhen can be adjusted to the lower limit of the new mortgage interest rate policy.
Among them, the interest rate of the second and above stock mortgages in Beijing is adjusted to: LPR-5 basis points within the Fifth Ring Road, and LPR-25 basis points outside the Fifth Ring Road; The interest rate of the second and above stock mortgages in Shanghai is adjusted to: the Lingang New Area of the Free Trade Zone and Jiading, Qingpu, Songjiang, Fengxian, Baoshan and Jinshan Districts are LPR-25 basis points; others are LPR-5 basis points; The interest rate of the second and above stock mortgages in Shenzhen is adjusted to: LPR - 5 basis points.
From a national perspective, the batch adjustment of the stock mortgage interest rate will benefit 50 million households and 150 million people, reducing the average annual household interest expenditure by about 150 billion yuan.
Source: Daily Economic News synthesized from every economic network, China Securities Journal, bank announcements, etc