Beijing, Shanghai, Guangzhou, and Shenzhen simultaneously reduce the housing provident fund loan interest rates, many banks quickly implement the new policy.

Recently, the housing provident fund management centers in Beijing, Shanghai, Guangzhou, and Shenzhen successively announced that, in accordance with the unified deployment of the People's Bank of China, the personal housing provident fund loan interest rate will be reduced by 0.25 percentage points starting from May 8th. In addition, many cities such as Zhengzhou, Anyang, Wuxi, and Ningbo have announced a reduction in the personal housing provident fund loan interest rates. At the same time, it was reported that many banks in Beijing, Shanghai, Guangzhou, and Shenzhen have implemented the new policy of adjusting the personal housing provident fund loan interest rates starting from May 8th. After the adjustment, the interest rate for first-time personal housing provident fund loans for over 5 years was lowered to 2.6%, reaching a historical low, and the interest rate for second-time personal housing provident fund loans was lowered to 3.075%. Additionally, new personal housing provident fund loans issued on the same day will be subject to the new interest rate, while the adjustment of interest rates for existing housing provident fund loans will take effect uniformly from January 1, 2026.