The Personal Housing Loan with Fixed Interest Rate means that the interest rate on the loan remains unchanged over the term of the loan.
The Personal Housing Loan with Mixed Interest Rate means that the interest rate remains unchanged for the initial period of time (fixed rate period), and shifts to floating rate after the fixed rate period expires (floating rate period, the conventional interest rate mode for personal housing loan).
Benefits
Interest rate remains unchanged for the personal housing loan with a fixed rate, or within the fixed rate period for the personal housing loan with floating rate. The fixed rate loan protects you from interest rate risks and reduces your interest spending.
1. If the PBOC raises the benchmark lending rate, the original interest rate shall apply to lock-in interest expense;
2. If the PBOC lowers the benchmark lending rate, and the interest rate floor on the fixed rate housing loan for the corresponding period announced by ABC is lowered by one percentage point or more, the borrower may exercise option.
Procedures
The borrower files an application for personal housing loan with fixed/mixed interest rate and submits relevant documents → ABC enters into the loan contract with the borrower after the application is approved → The borrower goes through insurance and security formalities → ABC issues the loan → The borrower repays the loan upon maturity.
Documents Required for the Application
1. Identity certificate of the borrower;
2. Certificate of marital status of the borrower;
3. Certificate of repayment ability of the borrower;
4. Certificate of down payment for the housing purchase;
5. Valid housing purchase contract made between the borrower and the housing seller;
6. Completed Personal Property Loan Application Form of Agricultural Bank of China;
7. Other documents required by ABC.
Follow-up Services Available
1. Access to all preferences and discounts available for a personal housing loan.
2. Multiple terms for your freedom of choices. ABC now offers personal housing loans with fixed/mixed interest rate for three, five and ten years. Even if the loan term is over ten years, you will benefit from the fixed interest rate and mitigate the risk generated from rate increases.
3. Considerate interest rate adjustment option. If the interest rate floor on the fixed rate housing loan for the corresponding period announced by ABC is lowered by one percentage point or more, you may exercise the option to lower your interest rate to the same extent and reduce loss.
4. Extensive application. This fixed/mixed interest rate mode is applicable to a wide range of personal housing loan products: replacement personal housing loan, personal housing revolving loan and relay loan.
Application Channels
ABC outlets authorized to provide the service.
Customer Service Center : 95599
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