How to calculate bank loan interest = principal × interest rate × loan term. For example, if the loan is five years 1 1,000 yuan:10,000× 4.75 %× 5 = 202 1 (yuan), if calculated according to the benchmark interest rate, the five-year interest of the loan is 2021yuan. To apply for a bank loan, you need to prepare materials: 1, valid identity documents; 2. Proof of permanent residence or valid residence, and proof of fixed residence; 3. Proof of marital status; 4. Bank flow; 5. Proof of income or personal assets; 6. Credit report; 7. Loan use plan or statement; 8. Other information required by the bank.

Legal objectivity:

The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions and expand the floating range of deposit interest rates. The People's Bank of China decided to lower the benchmark interest rate of RMB loans and deposits of financial institutions from March 20th 1 5 to March1. The benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 5.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to 2.5%. At the same time, combined with the interest rate marketization reform, the upper limit of the floating range of deposit interest rate of financial institutions was adjusted from 65438 0.2 times of the benchmark deposit interest rate to 65438 0.3 times. The benchmark deposit and loan interest rates of other grades and the deposit and loan interest rates of individual housing provident fund are adjusted accordingly.