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<CN Home>Guangzhou's Proposed New Policy Allows Conversion of 'Commercial Housing Loans to Provident Fund Loans' for Personal Loan Rate Below 75%
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The Guangzhou Housing Provident Fund Management Center has issued a public notice seeking opinions on the Guangzhou Implementation Measures for Conversion of Commercial Personal Housing Loans to Housing Provident Fund Personal Housing Loans (Interim) (Draft for Comments). The notice stated that contributors can apply to convert their outstanding commercial personal housing loan balances at banks handling Guangzhou housing provident fund loans to provident fund loans when the housing provident fund personal housing loan rate is below 75%. In case the personal loan rate reaches 85% or above, control measures, including but not limited to controlling the amount of commercial to provident fund loan conversion and scheduling applications, can be implemented. The conversion will be suspended when the personal loan rate hits 90% or above. AAStocks Financial News |
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