Beijing: Lowering the interest rate of individual housing provident fund loans.

The Beijing Housing Provident Fund Management Center issued an announcement on May 8th, stating that according to the requirements of the People's Bank of China's "Notice on Lowering the Interest Rate of Individual Housing Provident Fund Loans", starting from May 8th, 2025, the interest rates for first-time individual housing provident fund loans with a term of less than 5 years and those with a term of more than 5 years will be 2.1% and 2.6% respectively. The interest rates for second-time individual housing provident fund loans with a term of less than 5 years and those with a term of more than 5 years will be 2.525% and 3.075% respectively. For individual housing provident fund loans that were issued before May 8th, 2025 with a term of less than one year, the original interest rate will continue to be applied after May 8th, 2025 without segmented interest calculation; for loans with a term of more than one year, the original interest rate will still be applied after May 8th, 2025, and starting from January 1st, 2026, the adjusted interest rate for individual housing provident fund loans will be implemented.