The rate will be increased to 1.5 percent starting from Feb. 21, the People's Bank of China (PBOC) said in a statement. The current rate is 0.35 percent or 1.1 percent, depending on when the deposits were placed.
The housing provident fund is a saving program that allows employees and employers to set aside a portion of wages that can be used as mortgage deposits.
Form 8.5 (EPT/RI) - Accrol Group Holdings Plc
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*FORM 8.5 (EPT/RI)*
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