Fixed interest rate refers to the interest rate that will not be adjusted during the loan period. The implementation of fixed interest rate is very convenient for both borrowers and borrowers to accurately calculate costs and benefits, which is a traditional way.
Having a "fixed interest rate housing loan" means setting a fixed interest rate when signing a loan contract. During the loan contract, no matter how the market interest rate changes, the borrower pays interest at a fixed interest rate, and there is no need to "go with the market".
And provident fund loans.
Floating interest rate is an interest rate that can be adjusted regularly during the loan period.
According to the agreement between the borrower and the lender, one party makes adjustment at a specified time according to a certain market interest rate, and the general adjustment period is half a year. Floating interest rates increase costs because of complicated procedures and diverse calculation bases, so they are mostly used for loans in the international financial market for more than three years.
Mortgage is a floating interest rate, including CCB mortgage.