Shanghai: Lowering the interest rate for housing provident fund loans

According to the Shanghai Housing Fund news, as decided by the People's Bank of China, starting from May 8, 2025, the interest rates for first-time individual housing provident fund loans for less than 5 years and more than 5 years will be reduced to 2.1% and 2.6% respectively, and the interest rates for second-time individual housing provident fund loans for less than 5 years and more than 5 years will be reduced to 2.525% and 3.075% respectively. For individual housing provident fund loans issued after May 8, 2025, this notice will be followed. For existing individual housing provident fund loans issued before May 8, 2025 that have not reached maturity, the provisions of this notice will be implemented starting from January 1, 2026.