notice on adjustments to the municipality’s hpf personal account deposit interest rates
shgjj no. 16-2016
to shanghai branch of china construction bank:
in accordance with notice of the people’s bank of china, ministry of housing & urban-rural development and ministry of finance on bettering housing provident fund personal account deposit interest rate formation mechanism (bi no. 43-2016), we hereby notify you of relevant issues pertaining to the adjustments to the municipality’s housing provident fund personal account deposit interest rates as follows:
as of 21 february 2016, the current collection time based housing provident fund personal account deposit interest rates, tantamount to the prevailing demand deposit rate and three-month time deposit benchmark rate respectively, shall be replaced by the unified rate equivalent to the prevailing one-year time deposit benchmark rate for interest calculation.
please proceed accordingly.
shanghai provident fund management center
18 february 2016
addendum:
a summary of adjustments to hpf deposit interest rates (unit: annual interest rate %)
descriptions | before adjustments | after adjustments |
current | 0.35 | 1.50 |
carryover from previous year | 1.10 |
