Alibaba is offering its employees $3 billion in interest-free home loans to combat the soaring consumer price index

2011.08.18. 07:20:33　

At the same time, more than 40 million yuan of one-off price subsidies and education subsidies for children will be given to grassroots employees

　　At a time of high CPI and housing prices, another Internet company, tencent, has announced cash benefits for its employees. Alibaba group announced Wednesday that it will launch a 3 billion yuan "iHome" loan program and invest 500 million yuan in an education fund to provide preschool and primary education for employees' children. It will also provide more than 40 million yuan in one-off price subsidies and education subsidies for employees' children.

30 years interest-free loan 20 years can save 200,000

Peng lei, alibaba's chief human resources officer, disclosed in an internal email that alibaba will launch an "iHome" program from September 1 to provide 3 billion yuan of interest-free housing loans to employees to help ease the pressure of first time home purchase in the context of high housing prices and bank loan restriction policies.

If you have completed two years' service in alibaba and meet relevant requirements, and you have purchased your first house in your working place, you can apply for a loan to buy a house. For employees whose service term is more than two years (including three years) and less than three years, the maximum loan amount is RMB 200,000 yuan; For employees whose service term is more than three years (including), the maximum loan amount is RMB 300,000. If the commercial loan of 300,000 yuan is taken as an example, the amount of interest will reach 170,000 to 200,000 yuan depending on different repayment methods.

However, some alibaba employees said on the Internet that it is better to pay them directly in cash and enjoy interest-free mortgage, which also means that job hopping is restricted in the future.

Give employee free loan to buy a house, hangzhou had already

"Seven years ago, we launched an alibaba-like plan for young employees to buy a house for a down payment." Chen guicai, chairman of hangzhou huineng biological co., said that in 2004, when the company saw the rapid rise in housing prices, it was easier to buy a house as early as possible, so it encouraged its employees to buy a house in advance.

'it's definitely a good thing that a big company has the strength to benefit its employees,' Mr. Chen said. Compared with ali, the loan amount provided by huineng is limited to no more than 100,000 yuan. Employees who borrowed money earlier have paid off the loan. Currently, huineng has 400 employees, and more than 100 employees have loan needs, accounting for a quarter.

Another insider said that in 2003 and 2004, utstarcom provided interest-free loans of around 200,000 yuan per person to qualified employees, and many of them bought houses with such loans.

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