The Ministry of Finance's "Preferential Loans for Young People to Buy Homes with Peace of Mind" was sent to the Executive Yuan this week.

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[Reporter Zhong Lihua/Taipei Report] The Ministry of Finance's "Preferential Loan for Young People to Buy Homes with Peace of Mind" has been sent to the Executive Yuan this week. It is understood that the Qingan loan will be extended for another 2 years, and the interest rate discount is expected to continue However, how long the interest rate halving discount will be extended is yet to be approved by 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 from the Treasury Department of the Ministry of Finance, as of the end of August this year, Qingan Loan has assisted 329,309 households without their own houses to buy houses, and the approved loan amount reached 1,359.2 billion yuan. At present, there are still about 180,000 loan households.

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It is understood that the Qingan loan program will be extended for another 2 years, while 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 of Qingan loans was only raised by half a yard (0.125 percentage points). It is also expected to be extended. As for the extension of half a year or one year, it is yet to be approved 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% and halved. The one-stage mobile interest rate of Qingan loan is 1.775%, and the two-stage 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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