This actually depends on the actual situation, because it depends on your loan time. If the loan period does not exceed one year, the loan interest rate is about 4.35%. If the loan term is within one to five years, it is normal that the loan interest rate is around 4.75%. If your loan term has exceeded 5 years, it is normal for the loan interest rate to be around 4.9%. If the loan term exceeds 10 years, the loan interest rate is normal at around 5.25%.
Of course, in addition to the loan period, it depends on the loan method. For example, many people now choose provident fund loans when buying a house. Provident fund loans and ordinary commercial loans are completely two concepts, and there are many differences in loan interest rates. There is no doubt that the interest rate of provident fund loans is definitely much lower than that of commercial loans. Usually, the interest rate of provident fund loans is around 2.5%.
When actually handling the loan business, it depends on which bank you are handling the loan, because the loan interest rate of each bank will be more or less different, but the difference is not very big. In the process of handling loans, you can first understand the regulations of various banks, and then choose a bank with higher cost performance to handle related business.
After handling the loan, we can find out the calculation formula of the loan interest rate. Usually, the annual interest rate of a loan is divided by the principal, and then the loan term is removed. At present, the annual loan interest rate of domestic banks is basically based on the benchmark interest rate of the central bank, and there will be some fluctuations on this basis. In real life, in addition to buying a house, there are many times when you need to apply for a loan. For example, you can apply for a loan if you buy a car. There will be some differences in loan interest rates for different loan businesses.
Is 35.97% annualized high? The loan will be repaid at the interest rate of 5.6% in June. Is it tall?
According to the national laws and regulations, the annualized interest rate within 24% is protected by law. Between 24% and 36%, it is performed according to the agreement, but it is not protected by law, which means that more than 24% of borrowers are willing to repay, but they are not protected by law when they sue.
35.97% is a relative concept, higher than bank loans or credit cards. Bank loans are generally around 8%. Now there are tax loans, public credit and other online loan products, which are also very convenient. It only needs personal income tax or provident fund deposit records. Credit card installment is generally around 12% per year. Credit card overdraft or annualized 18%.
Of course, if you can't get bank loans or credit cards, you can only borrow through small loan companies and other channels, and 36% is normal.
Finally, 5000 yuan is not much different in all aspects, so it doesn't take too much time to compare. There are ready-made channels to borrow.
What is the highest interest rate for small loan companies?
Everything has certain rules, and banking is no exception. As the saying goes, no rules can make Fiona Fang. Then, between the rules of banks, there are also restrictions and requirements for the expected annualized interest rate among microfinance companies. This regulation limits the capital expansion of small loan companies and provides them with greater development space.
According to the relevant regulations of the central bank, the expected annualized interest rate of self-operated loans and entrusted loans accepted by small loan companies must be controlled within 4 times of the interest rate announced by the central bank, that is, the expected annualized interest rate of loans of the same grade in the same period. For example, on June 8, the central bank lowered the expected annualized interest rate of six-month loans from 6. 1% to 5.85%, so the expected annualized interest rate of one-year loans of small loan companies cannot be higher than 23.4%.
There are many restrictions on bank loans. Small loan companies are also a good choice for small business owners and individuals who are in urgent need of loan turnover. Compared with banks, small loan companies lend money quickly, with high quota and much convenience. However, there are also many people who have doubts about small loan companies, on the one hand, out of distrust of small loans, on the other hand, out of consideration of the expected annualized interest rate of loans.
Guangzhou Private Financial Street officially opened, and the price of private finance in Guangzhou was also released on the same day. The expected annualized interest rate of 1 year is 17.55%. Up to now, 32 institutions have settled in Guangzhou Private Financial Street, including small loan companies 1 1, three guarantee companies and gold jewelry companies, four pawn shops and banks, one investment company 1, two third-party payment companies and insurance companies, and two securities companies and futures companies. Some microfinance companies have lowered their expected annualized interest rates, but they have not deviated from the "red line" of 4 times the benchmark expected annualized interest rate.
"After the central bank announced the interest rate cut, our expected annualized interest rate was also lowered accordingly, but the upper limit still did not exceed four times the benchmark expected annualized interest rate." Liang Huiming, director of Foshan Nanhai Youcheng Microfinance Co., Ltd. said. According to him, Youcheng Microfinance Company won the "Financial Innovation Award" at the just-concluded Gold Fair, mainly serving agriculture, countryside and farmers, with unsecured and unsecured microfinance as low as 10,000 yuan. Another staff member of Huadu Wansui Microfinance Company, which features microfinance, said that the company has never deliberately lowered the expected annualized interest rate of loans.
In the face of such regulations by the central bank, citizens also have their own ideas. Xu Bei, from Guangdong Microfinance Association, said that because funds were not so tight compared with the previous period, monetary policy was relaxed and interest rates were cut once. It can be seen that it is only a matter of time before the expected annualized interest rate of small loans goes down, and some small loan companies have already started to implement it. At the same time, he also pointed out that after all, it takes time for the market to digest all this, and it may be more obvious in two or three months. With the official opening of Guangzhou Private Financial Street, there are 10 microfinance companies listed in Guangzhou. Prior to this, there were 15 microfinance companies in Guangzhou.
Xu Bei believes that at this stage, Guangzhou microfinance enterprises are in a stage of "steady rise and good development". There are no more than 200 small loan companies in Guangdong province, but the coverage rate of districts and counties has reached 9 1%. After comparison, he concluded that there are 88 small loan companies in Shenyang, so even if new small loan companies are added, the market is still not saturated. Liang Huiming said that during this period, although the real economy was more difficult and the demand for loans decreased, the customers of these companies "did not decrease significantly". "There are more and more microfinance companies, and there will definitely be competition. Because each company's products and strategies are different and it faces a wide customer base, the first thing to consider is whether it can meet the market demand. " She feels that even if there is some competition, it is difficult for Youcheng Small Loan to cut interest rates. "Only by improving service attitude and speeding up examination and approval efficiency can competition be possible."
Guangzhou Folk Financial Street opened 10 days, and the annualized rate of small loans was 2 1%. With the official opening of Guangzhou Private Financial Street on June 28th, the "Guangzhou price" of private lending officially met with you. The so-called "Guangzhou price" refers to the expected annualized interest rates of microfinance companies and guarantee companies inside and outside the street collected by the management department of private financial street. After calculation, the average value is published on the electronic screen in the street for market reference only.
On the whole, it is clear that the expected annualized interest rate of one-year loans of small loan companies should not exceed 23.4%. This kind of restriction has both good and bad sides, and only by grasping the degree can it develop better.
Is usury with an annual interest rate of 30% protected by law?
Now it's a loan shark, protected. Not before. Those who exceed the benchmark interest rate by 400% are usurers. At present, the benchmark interest rate is only 4.65, which means that if the annual interest rate exceeds 18.3%, it is usury.
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1. If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the market quotation of one-year loan at the time of the establishment of the contract. The' one-year loan market quotation' mentioned in the preceding paragraph refers to the one-year loan market quotation issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20, 20 19.
2. In usury activities, if high-interest loans reach a certain amount, it constitutes the crime of illegally absorbing public deposits; For the purpose of lending, taking credit funds from financial institutions and lending them to others at a high interest rate, the illegal amount is large, which constitutes the crime of lending at a high interest rate; For the purpose of illegal possession, illegal fund-raising by fraudulent means, with a large amount, constitutes the crime of fund-raising fraud; Usury can easily lead to criminal offences such as illegal detention, kidnapping, injury and fraud; Non-governmental intermediaries and individuals lend at high interest rate with their own funds, which belongs to non-governmental lending behavior. If there is a loan dispute, it belongs to the category of civil adjustment.
3. Usury interest = loan amount * interest rate * term, which is a common calculation method of loan interest. For example, for a usurer with a monthly interest of 4 points, the loan amount is 654.38+ 10,000 yuan, and the interest of 654.38+0 months is 654.38+000000 * 4% * 654.38+0 = 4,000 yuan.
4. Big ears borrowed 1 10,000 yuan, and only got 9,000 yuan, but they had to pay back10.3 million yuan when repaying. Moreover, the interest of usury is "nailed" (interest) day by day, calculated by compound interest, which is called "interest overlap". I often borrow hundreds of dollars, and it will take a year and a half to pay it back. With interest, I may have to pay back tens of thousands.
Snowballing usury is mostly carried out between usurers and farmers. The loan term is generally 1 month, and the monthly interest is generally 3-5 cents. If it is not repaid at maturity, the interest will be doubled and included in the principal of next month. By analogy, the principal will increase month by month, and the interest will multiply month by month, just like snowballing.