The central bank’s targeted RRR cut and interest rate cut will reduce monthly payments.
From the analysis tool of Big Data Magic Mirror, for home buyers who take commercial loans, after the interest rate adjustment, according to the commercial loan of 1 million yuan and 20 years of equal principal and interest repayment method, if the interest rate is reduced, According to the benchmark interest rate, the monthly payment will be reduced by 139.82 yuan, and the annual burden can be reduced by 1,677.84 yuan.
For buyers who take housing provident fund loans, after the interest rate adjustment, according to the housing provident fund loan of 1 million yuan, 20 years of equal principal and interest repayment method, if the interest rate is reduced according to the benchmark interest rate, the monthly payment will be reduced by 127.64 Yuan, the annual burden can be reduced by 1531.68 Yuan.
For buyers who use provident fund and commercial mixed loans, if the interest rate is adjusted, according to the provident fund and commercial loan loan of 500,000 yuan each, 20 years of equal principal and interest repayment method, after the interest rate reduction, if the interest rate is reduced according to the benchmark interest rate , the monthly payment will be reduced by 133.73 yuan, and the annual burden can be reduced by 1,604.76 yuan.
Extended information
The significance of the RRR cut
1. Increase market liquidity so that commercial banks can have stronger credit extension capabilities. After the reserve requirement is reduced, , the bank's funds are relatively abundant, which is good for extending credit;
2. The liquidity of funds is relatively loose, which helps to reduce the market interest rate. After the deposit reserve ratio is lowered this time, business Banks can obtain about 15 billion yuan in cost reductions. The cost reduction will also help banks to provide lower financing costs and credit funds in the future.
Advantages
1. The central bank has the initiative and is less affected by the outside world, which better reflects the central bank’s policy intentions.
2. Have a rapid, powerful and extensive impact on the money supply.
3. It affects all banks and depository financial institutions in a fair and consistent manner in terms of time and extent.
Disadvantages
1. The policy effect is too violent and inelastic. It is greatly affected by the excess reserves of banks in the banking system and cannot be used frequently.
2. Increase the instability of bank operations, and policy measures are not reversible to a certain extent.
Baidu Encyclopedia - Reserve Bank Rate Cut
Baidu Encyclopedia - Central Bank Interest Rate Cut