On the evening of September 29, six major state-owned commercial banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China, quickly issued announcements stating that they are advancing the work of reducing existing commercial personal housing loan rates in an orderly manner in accordance with the law.
In terms of time arrangement, all six banks stated that they will (intend to) announce the specific operation details on October 12, 2024, and uniformly implement a batch adjustment of existing commercial personal housing loan rates before October 31, 2024. Industrial and Commercial Bank of China and Agricultural Bank of China said that they will carry out the interest rate adjustment work in accordance with the principles of marketization and the rule of law, provide convenient services through multiple channels, and conduct the work in accordance with laws and regulations. Bank of China stated that it will formulate implementation rules in accordance with laws and regulations and at the same time make technical preparations. China Construction Bank said, “We are rushing to formulate an implementation plan for the batch adjustment of existing mortgage loan rates.” Regarding the follow-up situation, the six banks said that they will announce relevant information on channels such as their official websites, WeChat official accounts, loan handling branches, and outlets. The reporter of the Securities Daily will continue to follow up and report. Related reports Understand in one article | Batch adjustment of existing mortgage loan rates before October 31: How much can it be reduced? When will it be reduced? The batch adjustment of existing mortgage loan rates is here: The vast majority of borrowers can “operate with one key”. How much less can they pay each month? Late-night blockbuster! The plan to lower existing mortgage loan rates has been officially implemented. Three key points are worthy of attention
