Following the joint notice issued by the Ministry of Finance, the People's Bank of China, and the National Financial Regulatory Administration regarding the optimization of fiscal subsidy policies for personal consumer loans, which extended the policy implementation period until the end of this year and included credit card bill installment plans in the support scope, multiple financial institutions have successively announced their related service measures.
Major state-owned banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China, stated that according to the notice, the fiscal subsidy policy for personal consumer loans will be effective from September 1, 2025, to December 31, 2026. For loans that had already signed the "Personal Consumer Loan Fiscal Subsidy Service Agreement" prior to this, consumption occurring after January 1, 2026, will automatically be eligible for the updated subsidy policy without requiring a new agreement.
Regarding adjustments to the scope of eligible spending under the consumer loan subsidy policy, Bank of China indicated that, in line with the new policy requirements, the previous spending cap restriction of 50,000 yuan (inclusive) and above has been removed. This means that transactions for consumption amounting to 50,000 yuan or more will no longer be limited to the seven previously designated key areas.
Industrial and Commercial Bank of China detailed the specific subsidy-eligible categories within its service agreement. The home automobile category covers vehicle purchases, insurance, and maintenance. The elderly care and childbirth category includes age-appropriate home modifications purchased by seniors or their children, services from nursing homes and retirement communities, childcare, and assisted reproduction expenses. The education and training category supports qualification exam preparations and continuing higher education. The culture and tourism category covers domestic travel services booked through licensed agencies. Home furnishing and decoration includes renovation, home appliances, kitchenware, bathroom fixtures, and furniture. The electronics category covers purchases of mobile phones, tablets, personal computers, and smart wearable devices. Finally, the health and medical category includes orthodontics, vision correction, and health management services.
A key highlight of this policy optimization is the inclusion of credit card bill installment plans, which will receive an annual subsidy rate of 1 percentage point. Agricultural Bank of China specified that the subsidy policy for credit card installments will run from January 1, 2026, to December 31, 2026. Installment transactions conducted after the policy's implementation that meet the criteria will automatically receive the subsidy. For installments processed between January 1, 2026, and the policy's official announcement date, customers can contact the Agricultural Bank credit card customer service hotline to apply for the subsidy.
Bank of Communications clarified that the annual subsidy rate for credit card bill installments is 1 percentage point, calculated based on the principal amount of the eligible consumer loan or the eligible credit card installment principal actually used for consumption. The maximum cumulative annual subsidy per borrower across all personal consumer loans and credit card installments at a single bank is capped at 3,000 yuan.
Regarding the application process for the subsidy on personal consumer loans or credit card installments, Postal Savings Bank of China stated that customers only need to sign a fiscal subsidy application authorization letter or the subsidy agreement, authorizing the bank to identify account transaction information. The bank will then automatically calculate the subsidy amount based on the customer's actual spending, the stipulated subsidy rate, and the upper limit, applying the subsidy directly when collecting loan interest or periodic installment interest, with no further action required from the customer.
If the system fails to automatically identify eligible transactions, customers can apply for a manual review by submitting supporting documents, such as genuine invoices corresponding to the loan usage. Upon approval, the subsidy will be granted.
The new policy has also expanded the range of authorized handling institutions to include city commercial banks, rural commercial banks, foreign-funded banks, consumer finance companies, and auto finance companies, making the service more accessible to the public. It is understood that many small and medium-sized financial institutions are currently expediting the formulation of detailed implementation rules.
The joint notice from the three authorities also emphasized that handling institutions must strengthen monitoring of loan usage and fund flows. In response, Agricultural Bank of China stated that subsidies will not be granted for credit card usage involving fraud, fictitious consumption, diversion of funds to non-consumption purposes, or other illegal activities specified by national policies. For subsidies already received under such circumstances, the bank reserves the right to deduct or reclaim the subsidy funds through appropriate means.
Bank of Communications and Postal Savings Bank of China explicitly stated that they will strictly prohibit applications involving fake qualifications, documents, guarantees, transactions, or purposes, or those facilitated by illicit intermediaries. Subsidies for applications rejected by relevant departments or involving illegal subsidy extraction will be deducted or reclaimed according to regulations. Borrowers who illegally obtain subsidies will also have this recorded in their personal credit history and face serious legal consequences.
Zhaolian Consumer Finance Company emphasized that financial institutions do not charge any extra fees throughout the process of applying for consumer loans and the associated subsidy. Consumers are advised to apply through official channels, such as the "Zhaolian Finance" App, and to be wary of intermediaries or individuals promising "subsidy代办" or "guaranteed approval" for a fee, urging vigilance against fraud to protect personal information and funds.
