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China Daily Website

ICBC halts discounted mortgage loans

Updated: 2012-05-03 16:01

Industrial and Commercial Bank of China's Shanghai outlets have stopped issuing mortgage loans with 15 percent discounts and have reverted to benchmark rates for first-time home purchasers, China Business News reported Thursday.

Discounted mortgage loans are still available at China Communication Bank and Agricultural Bank of China, according to the report.

Staff at China Construction Bank said that the bank applies the benchmark rates, but rates at different branches may vary according to the case.