how will the interest rate be adjusted after China Bank changes to LPR?
How to adjust the interest rate after China Bank converted to LPR:
According to the announcement of the People's Bank of China, the repricing period (the interval between two repricing days) is at least one year. Although LPR quotes every month, the mortgage interest rate will not be adjusted every month. After this conversion, from the first repricing date, on each repricing date, the interest rate level is recalculated and determined by the corresponding period LPR of the latest month and the added value of the conversion date, and remains unchanged in a repricing period.
Special circumstances:
1. If you successfully switch to personal mobile banking or personal online banking on the same day, you choose the repricing date as the loan lending date, which happens to be the same day. At the switching time, calculate the added value according to the LPR interest rate in December 219 (December of the previous year), and reprice it on the same day according to the LPR value published in the latest effective issue.
2. If you successfully switch at the smart counter that day: you choose the repricing date as the loan lending date, which happens to be the same day. The conversion date is calculated according to the LPR interest rate in December 219 (the previous year), and the loan lending date in the following year is repriced according to the latest published LPR value that has taken effect.
the above contents are for your reference. please refer to the actual business regulations.
if you have any questions, please contact online customer service of Bank of China.
you are cordially invited to download and use China Bank Mobile Banking APP or BOC Cross-border GO APP to handle related business. Why didn't the loan decrease after the lpr decrease
1. Give a positive answer
Why didn't the mortgage decrease when the LPR interest rate was lowered: If the user's mortgage interest rate is fixed by LPR, the mortgage interest rate will not be adjusted when the LPR interest rate is lowered; The LPR reduction is not the LPR reduction in December of last year, but the mortgage interest rate LPR in the second year refers to the LPR in December of last year. LPR has been lowered before, and the mortgage interest rate will not be adjusted this time.
II. Specific analysis
Therefore, the mortgage interest rate reduction must meet two conditions at the same time, that is, the user's mortgage interest rate is subject to LPR floating interest rate, and the LPR is lowered in December of the previous year, then the user's mortgage interest rate will be lowered with LPR in the second year.
most users choose to adjust the mortgage interest rate once a year, so the effective period of this adjustment is one year.
in the third year, LPR needs to refer to the LPR in December of the following year.
when LPR lowers the mortgage interest rate of users, the mortgage interest that users need to pay will be reduced.
Of course, LPR can be lowered, so there is a certain probability that it will rise, and users need to accept the rising risk.
if you are not clear about your online loan application, you can try to get a big data report from Xiaoqi Credit Check, and after checking your detailed loan records, you can confirm that it is the money you borrowed. At this time, you should pay off all the money you owe, and then contact the customer service of the corresponding platform to let them handle it and see if the blacklist of online loans can be eliminated.
third, how to reduce the mortgage interest rate of lpr?
if you want to lower the mortgage interest rate of lpr, you need to lower it. when signing the mortgage contract, the bank will add some points on the basis of the latest lpr to form the mortgage interest rate. once the added value is determined, it will not change. therefore, if you want to lower the mortgage interest rate, you need to lower the lpr.
of course, lpr will not affect all mortgage interest rates. the following three mortgage interest rates are not affected by lpr.
1. Interest rate of provident fund loans.
the provident fund loan is still a fixed interest rate, so the fluctuation of lpr will not affect the provident fund loan.
2. Fixed interest rate for previous stock mortgage.
mortgage loans before lpr reform and those with fixed interest rates in the future will not be affected.
3. Choose the mortgage interest rate linked to lpr but the change cycle has not yet arrived.
Even the floating mortgage interest rate will not change every month, and the shortest change period is one year.
In addition, it is difficult for ordinary people to predict and control the change of lpr, so we should keep an objective attitude towards the rise and fall of mortgage interest rate. Will LPR downgrade affect provident fund loans?
The downward adjustment of LPR will not affect the provident fund loan. The interest rate of the provident fund loan is fixed, and it has not been linked to LPR yet, so no matter how the LPR changes, it will not affect the customers who apply for provident fund loans.
Although the interest rate of provident fund loans is fixed, compared with the current commercial loan interest rate, provident fund loans are much more favorable, and lenders can really save a lot of interest by applying for provident fund loans. Of course, provident fund loans are strict in reviewing the qualifications of lenders and need to meet some requirements set by the provident fund center.
However, even if the commercial mortgage interest rate is linked to LPR, the reduction of LPR will not necessarily lead to the reduction of mortgage interest rate. First of all, some lenders chose a fixed interest rate. In this case, the mortgage interest rate will not change.
Secondly, the change of mortgage interest rate has a cycle, and the downward adjustment of LPR is only one factor for the decrease of mortgage interest rate, and the mortgage interest rate will not increase until a cycle expires. This period is agreed with the bank when the lender applies for a loan, but the shortest period is one year.