I would like to ask ICBC (Fangsheng Sub-branch) that the mortgage interest rate last year was 85% of the benchmark interest rate, and this year the interest rate has risen by 20%. Will it be raised next year? If the borrower defaults, the issued loan shall be executed according to the loan contract. If the original loan interest rate rises, it will still be discounted at 85%.

The benchmark interest rate of the loan is adjusted once a year with the change of the benchmark interest rate of the People's Bank of China, and it is adjusted every year 1 month 1 day.