Starting today, Shenzhen has lowered the public housing fund interest rate. The total interest on a pure public housing fund loan of 2.09 million has decreased by 99,400.

According to the Shenzhen Housing Provident Fund Center, on May 8th, in accordance with the decision of the People's Bank of China, Shenzhen began to synchronously reduce the personal housing provident fund loan interest rate by 0.25 percentage points. According to calculations by the Le You Jia Research Center, under the new interest rate, if a first-time buyer with a second child takes out a pure housing provident fund loan of 2.09 million yuan, using the equal principal and interest repayment method, they can save a total of 99,400 yuan in interest after the new policy. On May 7th, the People's Bank of China issued a notice about lowering the interest rate for personal housing provident fund loans, deciding to reduce the interest rate by 0.25 percentage points starting from May 8, 2025. The interest rates for first-time buyers with loans of less than 5 years and 5 years or more are adjusted to 2.1% and 2.6% respectively; the interest rates for second-time buyers with loans of less than 5 years and 5 years or more are adjusted to no less than 2.525% and 3.075% respectively.