The Ministry of Finance is expected to submit the "Qing'an Loan" plan to the Executive Yuan next week. It is reported that in addition to the 2-year extension of the Qing'an Loan, the interest rate discount is also expected to be extended.

(Photo by reporter Zheng Qifang)

[Reporter Zheng Qifang/Taipei Report] The Ministry of Finance is expected to report to the Executive Yuan next week the plan of "Preferential Loans for Young People to Get Started and Buy Homes with Confidence".

It is understood that in addition to the confirmation of the Qingan loan extension for another 2 years, the interest rate halving discount is also expected to be extended. As for the extension of half a year or one year, it is subject to the decision of the Executive Yuan.

The Qingan Loan was launched in December 2010, and is handled by 8 public-stock banks including the Bank of Taiwan with their own funds. It is currently being extended for the fifth time until the end of the year.

According to statistics, as of the end of August this year, Qingan Loan has assisted 329,309 households without their own homes to buy houses, and the approved loan amount reached 1,359.2 billion yuan. Currently, there are about 180,000 loan households.

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It is understood that the Qingan loan program will be extended for another 2 years and is expected to be submitted to the Executive Yuan for approval next week.

In addition, the central bank raised interest rates by 1 yard (0.25 percentage points) in March this year, and the Ministry of Finance announced that the benchmark interest rate for Qingan loans was only raised by half a yard (0.125 percentage points). It is decided by the Executive Yuan.

The Qingan loan interest rate is calculated based on the 2-year fixed deposit mobile interest rate (base rate) of Chunghwa Post, which is calculated based on the current benchmark interest rate of 1.345% halved. The one-stage mobile interest rate of Qingan loan is 1.775%, and the two-stage mobile interest rate 1.565% for 2 years, 1.865% from the 3rd year; hybrid fixed interest rate, 1.745% in the 1st year, 1.845% in the 2nd year, 1.865% from the 3rd year.

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