The new interest rate of the previous year will be implemented from January 1 of the following year. For example: the current interest rate for mortgages with more than 5 years is 6.12. On the first day of next year, the mortgage interest rate for all users will be reduced to 6.12. In the same way, the same goes for interest rate increases, which change every year. If the interest rate is raised to 8 next year, it will only be implemented in 2010.

This kind of floating interest rate is a risk for lenders. If you buy a house in Tianjin, you can use our bank (Sino-German Housing Savings Bank) 3.3 fixed low annual interest rate to buy a house. If you are repaying a loan, you can also use our bank to replace it with a loan to save interest.