China's big six banks roll out mortgage interest subsidy, applied directly to monthly payments

China's six largest state banks collectively announced measures to apply the Oct 1 residential mortgage interest subsidy directly to borrowers' monthly payments. The scheme covers new first-home loans on homes under 120 sqm and priced at 1.5m yuan or less; on a 1.5m yuan loan the subsidy is about 10,000 yuan a year.

Detected & updated continuously · Source: Nebula