Source: CCTV.com

01-05-2009 10:31

Special Report:   House Market under New Policy

Most consumers are questioning whether they can enjoy 30 percent of interest rates cut for the housing loans. As our reporter finds out, except Agriculture Bank of China, many banks express that they still need to wait for detail rules.

In Beijing area, only Bank of Beijing released the detail  preferential policy formally.

The new policy issued by the central bank in October last year regulates that the consumers, who bought a house under 90 square meters at the first time before October 27th last year, can enjoy 30 percent of interest rates cut for the housing loans. Many banks haven't worked out the detail rules.

Staff of Construction Bank of China said "We have not received any information, so did Bank of China. We have the policy now, but we didn't know whether it enjoys the discount automatically or apply for the discount, it need to ask for the loan branch bank for the details."

In Beijing area, only Bank of Beijing released the detail preferential policy formally. Other banks haven't worked out the detail rules. However, some branch banks of China's four major banks which are outside Beijing have already regulated that the consumers can enjoy 30 percent of interest rates cut. For example, Construction Bank of China Shanghai branch has already released notes that consumers can apply for the interest rates cut between January 4th and February 22nd.

One Beijing resident said "I hope it'd come out soon."

Another Beijing resident said "It can save a lot of money after all."

According to experts' calculation, as for a 20-year housing loan for a house which worth 500,000, a monthly payment is discrepant about 800 yuan for 25 percent and 30 percent of interest rate cuts.

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Editor:Xiong Qu