Bank of China: Clients with fewer than three straight defaults or six defaults in total can apply for the discount on their first mortgage.

Inustrial and Commercial Bank of China: As yet, no clear policy.

China Construction Bank: Clients can apply for the 30 percent discount between January 4 and February 22. Clients who previously enjoyed the 15 percent discount and have no more than two defaults can apply.

Agricultural Bank of China: The bank will automatically give the 30 percent discount to clients whose outstanding mortgage is more than 300,000 yuan and who previously enjoyed the 15 percent discount. For those whose outstanding mortgage is less than 300,000 yuan, clients can apply for the offer. But those who have defaults of more than 90 days cannot.

Bank of Communications: Mortgage owners whose outstanding mortgage is more than 100,000 yuan and who are already qualified for the 15 percent discount can enjoy the 30 percent discount, but they have to sign additional terms that state they will not pay off the loan in advance or transfer the mortgage to another bank within three years. If they break the contract within the first year they will pay 3 percent of the outstanding principal. If they break the deal within the second year, the fine is 2 percent. In the third year, the fine is 1 percent.

China Everbright Bank: Clients with outstanding mortgages of more than 300,000 yuan on their first home who have a good credit record can apply.

China Minsheng Banking Corp: A 30-percent discount is available if clients enjoy the previous 15 percent discount.

Industrial Bank: Clients who get the 15 percent discount and have a good payment record can apply.

Bank of Shanghai: Clients with outstanding mortgages of more than 300,000 yuan with no severe defaults can enjoy the 30 percent discount.

(Shanghai Daily January 7, 2009)