Hainan Province lowers interest rates on individual housing provident fund loans.

According to the Hainan Provincial Housing Provident Fund Management Bureau, Hainan Province will reduce the personal housing provident fund loan interest rate by 0.25 percentage points starting from May 8, 2025, based on the notification of the People's Bank of China on lowering the individual housing provident fund loan interest rate. Starting from May 8, 2025, the interest rates for first-time personal housing provident fund loans of less than 5 years and more than 5 years will be adjusted to 2.1% and 2.6% respectively, while the interest rates for second-time personal housing provident fund loans of less than 5 years and more than 5 years will be adjusted to 2.525% and 3.075% respectively. Personal housing provident fund loans disbursed after May 8, 2025 will be based on the adjusted new interest rates. For personal housing provident fund loans disbursed before May 8, 2025, the new interest rates will be implemented starting from January 1, 2026 according to regulations.