Loans, once thrifty for the Chinese people, is very familiar. It can be said that loans are inseparable from the daily life of contemporary people, and there are really very few people who do not lend money for a lifetime. In order to make loans, it is necessary to understand the bank's loan interest rate. The following small and medium-sized series will introduce in detail the latest bank loan benchmark interest rate in 2019.
Bank loan interest rate
The bank loan interest rate is the interest rate that the bank collects from the borrower after granting the loan. Bank lending rate is a general term, which includes the central bank's lending rate to commercial banks, commercial banks' lending rate to borrowers, and interbank lending rate.
What we call bank loan interest rate usually refers to the interest rate that the borrower borrows from the bank, so this paper focuses on the bank loan interest rate under this definition.
What's the interest rate of bank loan
In China, the loan interest rate of commercial banks is set under the guidance of the central bank, that is, the benchmark interest rate. Generally speaking, after the benchmark interest rate is set by the central bank, all commercial banks can float up and down on the basis of the benchmark interest rate set by the central bank.
If you ask how much the benchmark interest rate of bank loans says, you can give an accurate answer. However, if it comes to the interest rate of commercial banks, it may not be easy to answer all at once.
The reasons are as follows:
According to the data released by the China Banking Regulatory Commission, as of June 30, 2018, there were 4571 institutions in China's banking industry, an increase of 22 from 4549 at the end of 2017.
Among them, there are 1594 rural banks, 983 rural credit cooperatives, 1311 rural commercial banks, 17 private banks, 134 urban commercial banks, 12 joint-stock banks, plus five major banks and so on & hellip; & hellip;
Because there are too many banks, the types of loans of various regions and banks are even more numerous. So if we generally say what the bank loan interest rate is, we can not give an exact data.
The latest benchmark lending rate in 2019
The benchmark lending rate of the central bank is not unchangeable. The latest adjustment was in 2015. Since the adjustment of the benchmark lending rate 4 years ago, it has not been readjust in recent years.
The specific provisions are as follows:
Since October 24, 2015, the central bank has lowered the benchmark interest rates of RMB loans and deposits of financial institutions.
Among them, the benchmark one-year loan interest rate of financial institutions was reduced by 0.25 percentage point to 4.35%;
The benchmark one-year deposit interest rate was reduced by 0.25 percentage point to 1.5%;
The benchmark interest rates of loans and deposits of different grades and the loan interest rates of the people's Bank of China to financial institutions are also adjusted accordingly;
At the same time, commercial banks and rural cooperative financial institutions will no longer set the upper limit of floating deposit interest rates.
However, personal housing provident fund loan interest rate has not changed.
Latest loan benchmark interest rate table in 2019
According to the loan benchmark interest rate of the people's Bank of China in 2019, the commercial loan interest rates of each term are as follows:
Within one year (including one year), the interest rate is 4.35%;
For one to five years (including five years), the interest rate is 4.75%;
Over five years, the interest rate is 4.9%.
The interest rate of provident fund loans with a term of less than five years (including five years) is 2.75%, and that of loans with a term of more than five years is 3.25%.
All commercial banks float up and down on this basis, and the specific data released by the banks shall prevail.
How to calculate loan interest
Loan amount, term and interest rate jointly determine the level of repayment interest. When other conditions are fixed, if the loan interest rate is high, the interest to be paid will be increased correspondingly. If the interest rate is low, the interest will be less.
Taking the rise of mortgage interest rate as an example, let's take a look at how to calculate the interest after the interest rate fluctuates
Assuming that the total amount of mortgage is 1 million and the term is 20 years, when the interest rate is calculated according to the benchmark interest rate of 4.9%, if the repayment method of equal principal and interest is selected, the monthly repayment amount is 6544 yuan, and the total amount of mortgage interest is 570665 yuan.
If other conditions remain unchanged, only the interest rate rises by 30%, that is, the benchmark interest rate multiplied by 1.3, the result is 6.37%, and the calculation formula is 4.9% + 4.9x30% = 6.37%.
After the interest rate rose to 6.37%, the repayment method of equal principal and interest was still adopted. The monthly repayment amount was 7379 yuan, and the total mortgage interest was 771054 yuan.
That is to say, after the loan interest rate rises by 30%, it is necessary to pay about 200000 yuan more interest.
Which bank should I choose when making a loan
Since there are so many banks, how to choose loans?
It starts with the deposit rate.
In order to compete with them, small and medium-sized banks will offer more attractive deposit rates than big banks.
The main income of banks comes from the interest rate difference between deposits and loans. The so-called wool comes from sheep. The interest rate of small and medium-sized banks is high, and the natural cost is also high. In order to keep profits, we can only increase the interest rate of loans.
Therefore, generally speaking, the interest rate of big banks is often lower than that of small and medium-sized banks.
However, the loan approval requirements of large banks are relatively high, and it is not easy to win the loan successfully.
What should I do if I want to apply for a bank loan with a lower interest rate?
As we all know, bank loans are approved and determined by the relevant staff of the bank. So, what kind of qualification can make the bank staff 'fall in love at first sight' to successfully make a deposit and give a lower interest rate?
First of all, it is better to keep a good flow of capital and proof of assets in the lending bank.
As a high-quality customer of the bank, it can bring good benefits to the bank. How can the bank not cherish this kind of user? Naturally, it will be open-minded when evaluating the loan interest rate.
Secondly, when submitting the loan information, try to show your financial resources as much as possible, such as my real estate, vehicles, financial investment, etc.
For banks dealing with money every day, what they need most is such high-quality users. In order to get such users, they will also give lower loan interest rates.
In addition, the interest rate of the loan with collateral is often lower than that of the loan without collateral, and the bank can provide collateral within its ability.
Finally, those who can apply for the interest rate of provident fund loan can have priority in applying for provident fund loan. After all, the interest rate of provident fund loan is obviously lower than that of commercial loan.
In a word, if you want to get a lower bank loan interest rate, the general idea is to show your economic strength to the bank and prove to the bank that you are a high-quality customer, so you can get a lower loan interest rate.