Major Banks Adjust Discount Lending Rates

China Construction Bank and Bank of China recently adjusted the preferential mortgage rates that they offer to first home buyers. Up until now, customers who applied for a mortgage from the above two banks could enjoy a 30% discount on their mortgage rate based on the current government determined one-year benchmark interest rate. Now first home buyers who put down a deposit of 20% or more, are only able to get a maximum 15% discount. Other large state-owned commercial banks are also planning to adjust their mortgage discount policies.

Source
China Securities Journal

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