From 9% to 5%... Dongyang Life Lowers Maximum Interest Rate on Insurance Policy Loans

For Fixed Interest Rate Products

Dongyang Life Insurance is lowering the maximum interest rate for insurance policy loans (insurance contract loans) from the 9% range to the 5% range.

On the 4th, Dongyang Life Insurance announced that it will reduce the maximum interest rate for fixed-rate insurance policy loans from the existing 9.9% to 5.95%, a decrease of 3.95 percentage points. The revised interest rate has been applied since the 1st of this month.

In particular, the interest rate reduction applies not only to new customers but also to existing customers. The aim is to provide interest reduction benefits to a wider range of customers.

When the revised maximum interest rate is applied, customers who take out insurance policy loans through products with a guaranteed interest rate of 5.95% or higher will not be subject to any additional interest rate surcharges. They only need to pay interest on the base rate, which is the guaranteed interest rate, without any additional interest burden from surcharges.

However, it should be noted that the interest rate reduction applies only to fixed-rate products. The interest rates for variable-rate products remain unchanged.

A representative from Dongyang Life Insurance stated, "In a situation where household interest repayment burdens are increasing due to high inflation and high interest rates, we have lowered the maximum interest rate to reduce the interest burden on our insurance policy loan customers. We will continue to provide services for customers who trust Dongyang Life Insurance."

This content was produced with the assistance of AI translation services.