Related readings:  Shanghai copper lower on China rate rise  Shanghai Composite Index closes at 3,014.44 points  Interest rate up to check lending growth  Central bank raises benchmark interest rates by 0.27%

The rate for loans under five years' maturity has been increased to 4.32 percent from 4.14 percent. Rates for loans over five years' maturity rose to 4.77 percent from 4.59 percent.

"The slight raise won't affect the property market a lot, but may sway many potential buyers' plans," said Cong Cheng, an official with Shanghai's public housing fund management center.

The construction ministry announced the lift this time instead of the central bank, which means that the country regards the raise as a property policy, Cong said.

The central bank moved to curb its booming credit and keep consumer prices stable by raising loan and savings interest rates by 0.27 percentage point on Saturday.

The one-year loan rate rose from 6.12 percent to 6.39 percent, and the one-year deposit rate climbed from 2.52 percent to 2.79 percent.

The hikes were the first since August, when the central bank also lifted the benchmark one-year interest rate by 0.27 percentage point.

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