Actual Interest Rate Expected to Drop to "2% Range"

　　Reporters have learned that although specific details of consumer loan interest subsidies have not yet been announced by banks, some banks have already started making plans to retain customers.

　　"Customers can apply for a loan first to check their credit limit. If the limit is satisfactory, they can wait until September 1 when the interest subsidy service officially begins to withdraw the funds. This will not affect their eligibility for the policy," a personal loan manager at Hengfeng Bank in Beijing told reporters.

　　"If there is no urgent need for money, customers can wait. Once the interest subsidy details are released, we will immediately inform them. If three people apply together, we can provide on-site processing," said a staff member at a branch of China Minsheng Bank in Beijing.

　　During the investigation, reporters learned that the minimum interest rate for consumer loans at many banks remains at 3%.

　　"The current minimum interest rate is 3%. As long as the customer's employer is on our whitelist, has not taken excessive loans from other banks, and has a good credit record, they can generally apply for an interest rate between 3% and 3.3%. If the minimum rate is not adjusted in September, the actual interest rate after subsidies will be below 3%," said a staff member at a branch of China Construction Bank in Fengtai District, Beijing.

　　"According to the policy, the annualized interest rate subsidy for consumer loans is 1%, with a cumulative subsidy cap of 3,000 yuan. Currently, our bank's minimum consumer loan interest rate is 3.05%. If this rate remains unchanged, after the subsidy, the borrower's actual interest rate is expected to drop to the '2% range'," a loan manager at a branch of China Merchants Bank in Xicheng District, Beijing told reporters.