The Government Pension Investment Fund said Wednesday it will raise its housing loan rates by 0.16 percentage point to 0.24 percentage point, effective Sept. 2.
The fund, which manages pension premiums paid to the national and the employees’ pension programs, said its basic loan rate for the first 10 years for ordinary homes will rise to 2.69 percent per annum from the current 2.53 percent.
The rate will go up to 3.21 percent per annum from the current 3.00 percent after the 11th year.
The decision is in line with a similar move by the government, which said last week the Government Housing Loan Corp.’s basic interest rate on housing loans will be raised to 2.4 percent per annum from the current record low 2.0 percent, effective Sept. 2.
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