"What's this about 30% and 15% discounts? I don't know anything about it."
On November 26th, at the second floor of the Sanxiaokou branch of the Construction Bank of China, Ms. Huang from Hefei signed some documents and took away the relevant materials for her home loan.
Even though Ms. Huang doesn't understand the difference between a 30% and other mortgage rate discounts, it didn't stop her from getting the "30% discount." She secured a commercial loan of 200,000 yuan over fifteen years, with a monthly payment of 1,590 yuan. The corresponding interest rate is exactly 5.04%, which is the 70% discounted rate of the then current annual commercial loan rate of 7.20% for terms longer than five years. Different housing types are treated differently.
"If you're buying your first home, under 144 square meters, and have no adverse credit records, you can get the 30% discount."