If it is a commercial loan, the benchmark interest rate for a three-year loan is 4.75%; If it is a provident fund loan, the benchmark interest rate for a three-year loan is 2.75%.
From March 1 2020, financial institutions should negotiate with customers of existing floating interest rate loans on the conversion terms of the pricing benchmark, and convert the interest rate pricing method agreed in the original contract into LPR as the pricing benchmark (the bonus value can be negative), and the bonus value will be fixed during the remaining period of the contract; It can also be converted into a fixed interest rate.
Pricing benchmark can only be converted once, and cannot be converted again after conversion. In the last repricing cycle, the floating-rate loan of inventory shall not be converted. In principle, the conversion of the pricing benchmark of floating rate loans should be completed before August 3, 20201.
How to calculate the interest on a three-year loan?
The three-year loan interest is calculated according to the three-year loan interest rate and loan principal, and the calculation formula is: loan interest = loan principal × loan interest rate × loan term. Different bank loan interest rates are different, but they all fluctuate on the benchmark interest rate of the central bank. Take Bank of China as an example:
1. Commercial loan: the three-year loan interest rate is 4.75%. If the loan is 50,000 yuan, the interest on the three-year loan is 7 125 yuan.
2. Provident fund loan: the interest rate of the three-year loan is 2.75%. If the loan is 50,000 yuan, the interest on the three-year loan is 4 125 yuan.
202 1 latest benchmark loan interest rate
The loan interest rates of different banks are different, but they are all based on the loan interest rate announced by the central bank, and the real interest rate may rise. Bank loan interest rates can be divided into short-term loan interest rates, medium-and long-term loan interest rates and provident fund loan interest rates. Take the central bank as an example to make a concrete analysis:
1. Short-term loan: the loan interest rate for six months (inclusive) is 4.35%; The loan interest rate for six months to one year (including 1 year) is 4.35%.
2. Medium and long-term loans: the loan interest rate for one year to three years (including three years) is 4.75%; The loan interest rate for three to five years (including five years) is 4.75%; The loan interest rate for more than five years is 4.9%.
3. Provident fund loan: the loan interest rate for less than five years (including five years) is 2.75%; The loan interest rate for more than five years is 3.25%.
Legal basis:
Interim Measures of China Banking Regulatory Commission on the Administration of Personal Loans
Article 7 The use of personal loans shall comply with the provisions of laws, regulations and relevant state policies, and lenders shall not issue personal loans without specific purposes.
Lenders should strengthen the management of loan fund payment and effectively guard against personal loan business risks.
Article 8 The term and interest rate of personal loans shall be implemented in accordance with the relevant provisions of the state.
Article 9 The lender shall establish a reasonable control mechanism for the borrower's income and debt ratio, reasonably determine the loan amount and term in combination with the borrower's income, liabilities, expenses, loan purposes, guarantees and other factors, and control the borrower's repayment amount in each installment not to exceed its repayment ability.
What is the benchmark interest rate for commercial loans?
According to the notice of the central bank:
Central bank loan benchmark interest rate:
(1) Short-term loan: within one year (including one year), and the adjusted interest rate is 4.35.
(2) Medium and long-term loans: the adjusted interest rate is 4.75 for one to five years (including five years); The adjusted interest rate for more than five years is 4.90.
(3) Personal housing provident fund loan: after five years (including five years), the menu adjustment interest rate is 2.75; The adjusted interest rate for more than five years is 3.25.
Agricultural Bank, the interest rate of short-term loans (within six months, including six months) is 4.35%; The loan interest rate for half a year to one year (including one year) is 4.35%. The loan interest rate for one year to three years (including three years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
If it is a provident fund loan, the loan interest rate for less than five years (including five years) is 2.75%; The loan interest rate for more than five years is 3.25%.
The 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 loan interest rate of the central bank to commercial banks; The loan interest rate of commercial banks to customers; Interbank lending rate
The decisive factors of bank loan interest are:
1, bank cost. Any economic activity needs cost-benefit comparison. There are two types of bank costs: borrowing costs-prepaid interest on borrowed funds; Additional cost-the cost of normal business.
2. Average profit rate. Interest is the subdivision of profit, which must be less than the profit rate, and the average profit rate is the highest limit of interest.
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