China will cut the loan rates of individual housing provident fund by 0.25 percentage points, the central bank announced Friday. Starting May 18, the interest rate of first-home loans that mature within or at five years will be set at 2.35 percent, while the over-five-year rate will be slashed to 2.85 percent, the People's Bank of China said on its website. For second-home purchases, the interest rate of loans that mature within or at five years will be no lower than 2.775 percent, while the over-five-year rate will be no lower than 3.325 percent. The housing provident fund is a long-term housing savings plan made up of compulsory monthly deposits by both employers and employees. It can only be used by employees for house-related expenses. |
Geena Davis, 68, wows in a figureTexas A&M Commerce wide receiver Keith Miller III is found dead at 23 near the DallasMichael Douglas, 79, reveals the moment he realised his wife Catherine ZetaVideo of kids playing chicken with train on Ngāruawāhia bridge highlights ongoing problemRyan Gosling makes rare comment about daughters while discussing I'm Just Ken performance at OscarsNetflix fans are left STUNNED by the streaming site's 'most UNHINGED' show yet'Not our stance': Expert advice on mine application riles councillorsMore than 30m Americans could face drinking water crisis as officials find major flaws in US damUS carries out first airdrop of aid into GazaMore than 30m Americans could face drinking water crisis as officials find major flaws in US dam