Central Bank: Lowering the interest rate on individual housing provident fund loans by 0.25 percentage points.

According to the Zhitong Finance and Economics APP, on May 7th, the People's Bank of China issued a notice on lowering the interest rate of individual housing provident fund loans. The People's Bank of China has decided to lower the interest rate of individual housing provident fund loans by 0.25 percentage points starting from May 8, 2025. The interest rates for first-time individual housing provident fund loans of 5 years or less (including 5 years) and over 5 years have been adjusted to 2.1% and 2.6% respectively, while the interest rates for second-time individual housing provident fund loans of 5 years or less (including 5 years) and over 5 years have been adjusted to not lower than 2.525% and 3.075% respectively.