In June, the central bank lowered the benchmark interest rates for deposits and loans. Has the interest rate for the house I bought with a loan in May dropped now? How much has it dropped? Can my loan interest rate be reduced now?

Hello, the annual interest rate when you bought the house was 7.05 and currently (from June 8) the interest rate has dropped by 0.25, which means the annual interest rate has become 6.8.

According to the bank's default process, the interest rate adjustment is carried out on January 1 every year, that is, it is adjusted once a year. It will not be reflected in your loan until January 1 next year (unless you are in June Apply for a loan after the 8th), and if you feel it is necessary, you can go to the bank and apply to change the interest rate adjustment to the 1st of each month. That is, the country adjusted the interest rate last month, and it can change accordingly next month. However, you have to make your own measurement. Interest rates are constantly changing and will fall or rise. It is up to you to decide whether to adjust it or not.

Generally, banks only accept one application for interest rate adjustment.