Xinhua News Agency, Beijing, August 13 (Reporters Wu Yu, Li Yanxia) The four major banks of Industry, Agriculture, China and Construction issued an announcement on the 12th, saying that starting from August 25, individuals who meet the conditions and have not yet completed the conversion of the pricing benchmark will be Housing loans are converted in batches, and the pricing of the loan market price rate (LPR) is uniformly adjusted. If some customers do not accept batch conversion, the four major banks will also make corresponding arrangements.
The People's Bank of China issued an announcement at the end of last year, stating that from March 1 to August 31, 2020, the pricing benchmark for stock floating-rate loans will be converted. Customers can negotiate with financial institutions to decide whether to "change the anchor" to LPR or a fixed interest rate.
As the conversion end date approaches, many people are very concerned about how to deal with stock mortgages that fail to make a timely choice. In response to this, the four major banks recently announced that they would convert their customers to LPR pricing in batches.
According to the announcement of the four major banks, the scope of batch conversion includes the existing floating-rate personal housing loans that have been issued or signed by banks before January 1, 2020, and have not been issued as of August 24, 2020 (inclusive). (Including personal commercial housing loans, excluding provident fund loans and provident fund discount loans).
However, if customers do not accept batch conversion, the Big Four have also proposed solutions. The Industrial and Commercial Bank of China stated that if customers do not accept batch conversion, they can perform autonomous conversion through mobile banking, smart teller machines, loan handling banks and other channels before August 24, 2020 (inclusive).
The Agricultural Bank of China stated that if they do not wish to convert in batches, customers can register through ABC's handheld bank, online banking, customer service or the original loan handling bank from the date of the announcement to August 24, 2020 (inclusive). There will be no batch conversion of their personal housing loans.
Bank of China stated that if customers do not wish to convert in batches, they can go to the loan agency for negotiation and settlement from September 1, 2020 to December 31, 2020.
China Construction Bank stated that if customers wish to handle it on their own, they can do it through mobile banking, online banking, any branch or loan handling agency in the country before August 31, 2020 (inclusive). The loan pricing benchmark can only be converted once and cannot be converted again after conversion.
For customers who have objections after the batch conversion is completed, some banks have also clarified relevant arrangements. ICBC stated that after the batch conversion is completed, if customers have objections to the conversion results, they can self-service transfer via mobile banking or negotiate with the loan handling bank before December 31, 2020 (inclusive).
The Agricultural Bank of China stated that customers who have objections after the batch conversion can be negotiated through the Agricultural Bank's handheld bank, online banking, customer service or the original loan handling bank before December 31, 2020. If you want to cancel the batch conversion and maintain the original contract pricing method, you can apply through the above channels. The cancellation operation can only be processed once.
CCB stated that after the batch conversion is completed, if customers want to maintain the original contract pricing method, they can self-transfer via mobile banking from September 1, 2020 to December 31, 2020, or go to any CCB branch's smart teller machine or loan Dealing with the agency.