"Effective as from October 8, 2019, CNY mortgage loan rate will be established by reference to the Loan Prime Rate (LPR) plus bps applying to a latest five-year period rate as CNY loan pricing benchmark rate.
LPR is updated on a monthly basis by SHIBOR with authorization of PBoC whereby customer could check the rate on the official websites of SHIBOR and PBoC."
1. This broadcast notice contains CNY mortgage loan prime rate ("LPR") update which took effect as of October 8, 2019. The new LPR will apply to Mortgage Loan Contract executed on or after October 8, 2019.
2. The LPR only serves as a reference for CNY mortgage loan pricing where actual loan rate and LPR repricing period applicable to customer shall refer to relevant clauses specified in the Mortgage Loan Contract.
3. For more information, please contact your Secured Loan Specialist or dial hotline 400-166-6388.
4. For mortgage loan offered prior to October 8, 2019 and Mortgage Loan Contract executed prior to October 8, 2019 where loan is yet to be offered, covenants in the executed Mortgage Loan Contract shall apply. Separate notice will be announced in case of any change subsequently.