Financial institutions agreeing to assume the homes, or homes and appurtenant
land, of victims whose homes were damaged, as verified by the government,in
the "921 Earthquake" [of September 21, 1999] under the provisions of Article
53, paragraph 1 of the Temporary Statute for 921 Earthquake Post-Disaster
Reconstruction, may, when settling those original loans or a portion thereof
not exceeding NT$3.5 million, apply for subsidization within the scope of
interest subsidies set forth in relevant regulations under Direction 2 of
the Emergency Decree. The scope, methods, and procedures of subsidization
are as follows:
1.Scope of subsidization
(1) For loans with an outstanding balance of NT$2 million or less, interest
rate subsidies shall be calculated based upon the Postal Remittance and
Savings Banks' floating interest rate on one-year postal time deposits
(currently 5.35 percent per annum) minus 3 percentage points; for an
amount of more than NT$2 million but not exceeding NT$3.5 million,
calculation of interest rate subsidies shall be based upon the Postal
Remittance and Savings Banks' floating interest rate on one-year
postal time deposits.
(2) The term of subsidization shall be the time remaining on the original
loan term plus 5 years, but shall not exceed 20 years at maximum.
Where victims have already applied for a loan from the emergency financing
funds pursuant to regulations under Direction 2 of the Emergency Decree and
have already created and registered mortgage rights, the provisions of the
preceding paragraph do not apply.
