The loan interest rate of rural credit cooperatives will fluctuate based on the loan benchmark. The loan benchmark interest rate is: 1. The interest rate for loans within one year is 4.35%; 2. The interest rate for loans within one to five years is 4.75%; 3. The interest rate for loans over five years

The interest rate is 4.90%.

The central bank's benchmark loan interest rate serves as the guiding interest rate for loans to rural credit cooperatives. Credit cooperatives have the right to raise or lower the loan interest rate based on the borrower's situation.

The lower limit of rural credit cooperative loan interest rates is 0.9 times the benchmark interest rate, and the maximum increase factor is 2.3 times the benchmark loan interest rate.

Extended information: Rural Credit Cooperatives (English name Rural Credit Cooperatives, Chinese abbreviation Rural Credit Cooperatives, Rural Credit Cooperatives) refers to rural cooperative finance established with the approval of the People's Bank of China, composed of members as shareholders, practicing democratic management, and mainly providing financial services to members.

mechanism.

Rural credit cooperatives are independent corporate legal persons. They bear responsibility for the debts of rural credit cooperatives with all their assets and enjoy civil rights in accordance with the law.

Its property, legitimate rights and interests and business activities carried out in accordance with the law are protected by national laws.

Its main task is to raise idle funds in rural areas and provide financial services for the development of agriculture, farmers and rural economy.

In accordance with national laws and financial policies, organize and regulate rural funds to support agricultural production and comprehensive rural development, support various forms of cooperative economy and member family economy, and restrict and crack down on usury.

Rural Credit Cooperatives are divided into the following departments: Rural Credit Cooperatives Cooperatives, Rural Credit Cooperatives International Finance Department, Zhengtong Rural Credit Cooperative Training School, Rural Credit Cooperative Credit Department, etc. It is a department under the dual leadership of the China Banking Regulatory Commission and the State Council.

Rural credit cooperatives are bank-type financial institutions. The so-called bank-like financial institutions are also called depository institutions and deposit money banks. Their unique characteristics are that they take deposits as their main liabilities, grant loans as their main assets, and handle transfer settlements as their main assets.

The main intermediary business is directly involved in the creation process of deposit currency.

Rural credit cooperatives are also credit cooperative institutions. The so-called credit cooperative institutions are cooperative financial institutions with the main purpose of mutual assistance formed by individuals raising funds. They are referred to as "credit cooperatives". They carry out deposits and loans among members for the purpose of mutual aid and self-help.

business.

The establishment of credit cooperatives is directly related to the development of natural economy and small commodity economy.

Since agricultural producers and small commodity producers have seasonal, sporadic, small-amount, and small-scale capital needs, it is difficult for small producers and farmers to obtain bank loan support. However, objectively, the development of production and circulation must solve the problem.

Due to the difficulty of insufficient capital, this kind of mutual aid and self-help credit organization established by paying shares and deposits emerged.

Rural credit cooperatives are cooperative financial organizations composed of farmers who hold shares, implement democratic management by the members, and mainly serve the members. They are legal financial institutions established with the approval of the People's Bank of China in accordance with the law.

Rural credit cooperatives are an important part of China's financial system. Their main task is to raise idle funds in rural areas and provide financial services for the development of agriculture, farmers and rural economy.

At the same time, organize and regulate rural funds, support agricultural production and comprehensive rural development, support various forms of cooperative economy and member family economy, and restrict and crack down on usury.