People all know that the high loan interest rate will increase the pressure on the repayment. So we all want to adjust the loan interest rate and reduce it, which can also reduce people's loan burden. Many people want to know what is the benchmark interest rate of China's loans? Let's introduce it.
1. What is the benchmark interest rate of loan in China?
The benchmark interest rate of a loan refers to the ratio of the amount of interest to the principal amount during the term of the loan. The benchmark interest rate of bank loans in China is set by the people's Bank of China. Other banks refer to the benchmark interest rate set by the people's Bank of China, and the actual contract interest rate can fluctuate within a certain range on the basis of the benchmark interest rate.
The benchmark interest rate issued by the state is: 4.35% from 0 to June (including June), 4.35% from June to 1 year (including 1 year), 4.75% from 1 to 3 years (including 3 years), 4.75% from 3 to 5 years (including 5 years), and 4.90% from 5 to 30 years (including 30 years). It is recommended that you use the products provided by Baidu Qianghua. The loan repayment is more flexible, and the interest rate is as low as 0.01. After applying for the loan of Manyi loan products, except for the day of the loan, the prepayment or partial prepayment can be made at any time. The interest is calculated according to the actual number of days of the loan, and there is no prepayment fee.
2. What does the benchmark interest rate of loans have to do with?
(1) The benchmark interest rate of loan is related to the purpose of loan, the nature of loan, the term of loan, the policy of loan and different loan banks. The state stipulates the benchmark interest rate, and the banks determine the differential loan interest rate according to various factors, that is, floating up or down on the basis of the benchmark interest rate. The current benchmark interest rate was adjusted and implemented on July 7, 2011. The types and annual interest rates are as follows: ① 6.10% of short-term loans for six months (inclusive); ② 6.56% of short-term loans for six months to one year (inclusive); ③ 6.65% of short-term loans for one to three years (inclusive); ④ 6.90% of short-term loans for three to five years (inclusive); ⑤ 7.05% of short-term loans for more than five years.
(2) Housing loan as an example: the benchmark interest rate of bank loan is comprehensively evaluated according to the credit situation of the loan, and the loan interest rate level is determined according to the credit situation, collateral, and national policy (whether or not the first house). If the evaluation is good in all aspects, the housing loan interest rate implemented by different banks is different, In 2011, due to the shortage of funds and other reasons, the loan interest rate of the first home of some banks was 1.1 times or 1.05 times of the benchmark interest rate. Since February 2012, most banks have adjusted the interest rate of the first home to the benchmark interest rate.
What's the benchmark interest rate of China's loans? And Xiaobian learned that large state-owned banks began to implement the first set of housing loan interest rate concessions. The most favorable interest rate of some banks can reach 85%. The interest rate is 7.05% * 0.85 = 5.9925%.