What is the interest rate for Bank of Communications credit card loans?

What is the interest rate for Bank of Communications credit cards

1. Short-term loans: 4.35% within one year (including one year).

2. Medium and long-term loans: 4.75% for one to five years (including five years), and 4.90% for more than five years.

According to the regulations of the People's Bank of China, the current loan interest rates of various banks can float freely. To put it simply, it is an individual application. The interest rate of Bank A is 7%, and the interest rate of Bank B may be 10%. This requires you to compare more and choose the product that suits you. Finally, I would like to remind everyone that there is no discount or increase in the provident fund loan interest rate, and it is completely based on the specified interest rate.

Loan interest rate is the interest rate charged by banks and other financial institutions to borrowers when they issue loans. It is mainly divided into three categories: the central bank's loan interest rate to commercial banks; the commercial bank's loan interest rate to customers; and the interbank lending rate.

The factors that determine bank loan interest are:

1. Bank costs. Any economic activity requires cost-benefit comparison. There are two types of bank costs: borrowing costs - prepaid interest on borrowed funds; additional costs - expenses incurred in normal business.

2. Average profit rate. Interest is a subdivision of profit. Interest must be less than the profit rate. The average profit rate is the highest limit of interest.

3. The supply and demand situation of lending currency funds. If supply exceeds demand, loan interest rates will inevitably fall, and vice versa. In addition, loan interest rates must also take into account price changes, securities income factors, political factors, etc.

However, some scholars believe that the highest limit of interest rate should be the marginal rate of return of funds. The factor that constrains the interest rate is regarded as the ratio of the increase in profit of the enterprise after borrowing a bank loan to the amount of borrowing and the loan interest rate. As long as the former is not less than the latter, the company may borrow from the bank.

Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. my country's interest rates are uniformly managed by the central bank. The bank loan interest rate refers to the benchmark interest rate set by the central bank, and the actual contract interest rate can fluctuate within a certain range based on the benchmark interest rate.

The loan interest rate refers to the ratio of the interest amount to the principal amount during the loan period. When determining the interest rate of a loan contract with a bank or other financial institution as the lender, the parties can only negotiate within the upper and lower limits of the interest rate stipulated by the central bank. If the loan interest rate is high, the borrower's repayment amount will increase after the loan period, otherwise, it will decrease.

The loan interest rate is the main basis for both parties to the loan contract to calculate the loan interest, and the loan interest rate clause is the main clause of the loan contract.

To determine the interest rate of a loan contract with a bank or other financial institution as the lender, the parties can only negotiate within the upper and lower limits of the interest rate specified by the central bank. If the loan interest rate agreed upon by the parties is higher than the upper limit of interest rates stipulated by the People's Bank of China, the excess shall be invalid; if the interest rate agreed upon by the parties is lower than the lower limit of interest rates stipulated by the Central Bank, the lowest interest rate stipulated by the Central Bank shall prevail.

In addition, if the lender violates the regulations of the central bank and charges any other fees in addition to interest, the central bank shall impose penalties.

Loan interest rates are generally higher than deposit interest rates, and the difference between the two is the main source of bank profits.

How much is the interest on a Bank of Communications loan of 70,000 for 6 years?

Assuming that the repayment method is equal principal and interest, the annual interest rate of the loan is 4.90%, then the monthly repayment is 1,124.10 yuan, the total interest is 10,935.28 yuan, the total repayment amount is 80,935.28 yuan, and the interest accounts for 13.51% of the total repayment.

For a loan of 76,000 yuan, if the repayment method is equal amounts of principal and the annual interest rate of the loan is 4.90%, then the first month’s repayment will be 1,258.06 yuan, which will decrease by 3.97 yuan every month, and the total interest will be 10,432.92 yuan. The repayment amount is 80,432.92 yuan, and the interest accounts for 12.97% of the total repayment.

What is the operating loan interest rate of Bank of Communications?

The national benchmark interest rate is as follows:

1. The annual interest rate for loans within one year: 4.35%.

2. The annual interest rate of the loan from one to five years is 4.75%.

3. The annual interest rate for loans over five years is 4.90%.