What is the interest rate of industrial vehicle loan in 2018? The latest calculation method of industrial vehicle loan interest rate
4hw.com.cn: now buying a car has become the just need of many families, but some friends will borrow money to buy a car in installments in order to reduce the pressure. What is the interest rate of industrial driving loan in 2018? How to calculate? Let's have a look.
How to calculate the interest rate of industrial loan
It is learned that ICBC has two ways to handle car loans, one is commercial outlets, the other is credit cards. The interest rates of these two ways are completely different. How much is the interest rate of industrial vehicle loan? It can be calculated according to the vehicle loan interest rate of ICBC. I'll introduce the interest rate of industrial vehicle loan to you.
Commercial network
At present, ICBC's business outlets mainly handle personal car loans and personal commercial vehicle loans for everyone. The loan interest rates of these two loans are determined with reference to the benchmark interest rate of the central bank and will fluctuate up and down by 30% according to the actual situation of the borrower.
Central bank benchmark interest rate
1. The loan term shall not exceed 1 year, including 1 year, and the annualized loan interest rate is 4.35%;
2. The loan term is between 1 year and 5 years, including 5 years, and the annualized loan interest rate is 4.75%;
3. The loan term is more than 5 years, and the annualized loan interest rate is 4.9%.
for instance
Xiao Zhang applied for car loans from ICBC outlets, with a loan amount of 100000 yuan, a loan interest rate of 5 years and a loan interest rate of 5.5%. If Xiao Zhang repays according to the equal principal and interest method, the total interest due is 14606.97 yuan. If Xiao Zhang repays according to the equal principal method, the total interest due is 13979.17 yuan.
Credit Card
When handling car loans through ICBC credit cards, the loan interest rate is sometimes calculated according to the installment interest rate and sometimes according to the interest free interest rate, depending on the model you choose.