diff --git a/drivers/net/bonding/bond_main.c b/drivers/net/bonding/bond_main.c
index 46c3301a5e07d..2e75b7e8f70b3 100644
--- a/drivers/net/bonding/bond_main.c
+++ b/drivers/net/bonding/bond_main.c
@@ -3817,14 +3817,19 @@ static bool bond_flow_dissect(struct bonding *bond, struct sk_buff *skb, const v
 	return true;
 }
 
-static u32 bond_ip_hash(u32 hash, struct flow_keys *flow)
+static u32 bond_ip_hash(u32 hash, struct flow_keys *flow, int xmit_policy)
 {
 	hash ^= (__force u32)flow_get_u32_dst(flow) ^
 		(__force u32)flow_get_u32_src(flow);
 	hash ^= (hash >> 16);
 	hash ^= (hash >> 8);
+
 	/* discard lowest hash bit to deal with the common even ports pattern */
-	return hash >> 1;
+	if (xmit_policy == BOND_XMIT_POLICY_LAYER34 ||
+		xmit_policy == BOND_XMIT_POLICY_ENCAP34)
+		return hash >> 1;
+
+	return hash;
 }
 
 /* Generate hash based on xmit policy. If @skb is given it is used to linearize
@@ -3854,7 +3859,7 @@ static u32 __bond_xmit_hash(struct bonding *bond, struct sk_buff *skb, const voi
 			memcpy(&hash, &flow.ports.ports, sizeof(hash));
 	}
 
-	return bond_ip_hash(hash, &flow);
+	return bond_ip_hash(hash, &flow, bond->params.xmit_policy);
 }
 
 /**
@@ -5012,7 +5017,7 @@ static u32 bond_sk_hash_l34(struct sock *sk)
 	/* L4 */
 	memcpy(&hash, &flow.ports.ports, sizeof(hash));
 	/* L3 */
-	return bond_ip_hash(hash, &flow);
+	return bond_ip_hash(hash, &flow, BOND_XMIT_POLICY_LAYER34);
 }
 
 static struct net_device *__bond_sk_get_lower_dev(struct bonding *bond,