Bei Jing Shang Bao·2026-01-23 01:05Core Viewpoint - The new personal consumption loan interest subsidy policy aims to enhance consumer spending by expanding the scope of eligible loans and simplifying the application process for consumers [1][4]. Group 1: Policy Implementation - The Ministry of Finance, the People's Bank of China, and the financial regulatory authority jointly issued a notice to optimize the implementation of the personal consumption loan interest subsidy policy [1]. - The subsidy period for personal consumption loans is set from September 1, 2025, to December 31, 2026, while the credit card installment subsidy period is from January 1, 2026, to December 31, 2026 [1]. - Major banks, including ICBC, ABC, Bank of China, and others, have quickly responded by issuing operational guidelines and FAQs regarding the subsidy services [1][2]. Group 2: Eligibility and Application Process - Customers who have previously signed consumption loan subsidy agreements do not need to re-sign; the new policy will automatically apply to their existing loans [2]. - For credit card installment services newly included in the subsidy, banks like Postal Savings Bank and Agricultural Bank have outlined specific application paths for customers [2][3]. - Agricultural Bank requires customers to sign a supplementary agreement for credit card installment subsidies, with each card needing a separate agreement [3]. Group 3: Impact on Interest Rates - The new policy includes a 1% annual subsidy rate for credit card installments, which could lower the effective interest rate for eligible borrowers to the "2% range" after subsidies [4]. - The minimum execution interest rate for consumption loans remains at 3%, indicating potential benefits for borrowers with good credit ratings [4].