On September 29, the Ministry of Finance, the People's Bank of China, and the General Financial Supervisory Administration issued the “Notice on Implementing the Interest Rate Discount Policy for Residents' Home Purchase Loans”, which clearly states that from October 1, an annualized interest rate of 1 percentage point will be given to eligible residents' household loans to purchase their first home. According to the current interest rate level for commercial personal housing loans for the first housing unit, it is equivalent to one-third of the preferential interest rate. For example, for a long-term commercial personal housing loan of 1 million yuan, the interest rate discount policy can help borrowers reduce interest payments by up to 50,000 yuan. According to information, the policy implementation period is tentatively set at 1 year. In order to make it easier for the majority of residents' households to borrow and enjoy it nearby, all banks that carry out commercial personal housing loan services can operate interest rate discount services for residents' home purchase loans in accordance with regulations. Buyers apply for loans at banks according to normal credit procedures, and only need to simultaneously authorize the bank to apply for interest discounts on their behalf when signing the loan contract. The bank automatically identifies eligible borrowers and automatically calculates and deducts the corresponding interest discount amount when receiving interest on a monthly basis. The interest rate discount will be directly reflected in the repayment amount for each instalment.

On September 29, the Ministry of Finance, the People's Bank of China, and the General Financial Supervisory Administration issued the “Notice on Implementing the Interest Rate Discount Policy for Residents' Home Purchase Loans”, which clearly states that from October 1, an annualized interest rate of 1 percentage point will be given to eligible residents' household loans to purchase their first home. According to the current interest rate level for commercial personal housing loans for the first housing unit, it is equivalent to one-third of the preferential interest rate. For example, for a long-term commercial personal housing loan of 1 million yuan, the interest rate discount policy can help borrowers reduce interest payments by up to 50,000 yuan. According to information, the policy implementation period is tentatively set at 1 year. In order to make it easier for the majority of residents' households to borrow and enjoy it nearby, all banks that carry out commercial personal housing loan services can operate interest rate discount services for residents' home purchase loans in accordance with regulations. Buyers apply for loans at banks according to normal credit procedures, and only need to simultaneously authorize the bank to apply for interest discounts on their behalf when signing the loan contract. The bank automatically identifies eligible borrowers and automatically calculates and deducts the corresponding interest discount amount when receiving interest on a monthly basis. The interest rate discount will be directly reflected in the repayment amount for each instalment.