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<CN Home>Fujian Province Completely Abolishes Floor Interest Rates for Housing Loans
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The Fujian Branch of the People's Bank of China (PBOC) announced that the entire Fujian Province completely abolished the floor interest rates for commercial personal housing loans for the first and second suites as of yesterday (29th); and lowered the minimum down payment ratios of commercial personal housing loans for the first and second homes to no less than 15% and 25%, respectively.

According to the branch, commercial banks may reasonably determine the specific interest rate level for each loan, taking into account factors such as the organization's operating conditions and customer risks, and may determine the specific down payment ratio for newly issued commercial personal housing loans for first and second homes in accordance with the principles of marketization and the rule of law.

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