Inquiries on credit loan interest rates of major banks

What is the interest rate on bank loans?

Our daily lives are closely related to banks. It can be said that we deal with banks every day. It can be as big as buying a car or a house, or as small as every small expense has to be deducted from the bank. We are in contact with banks every day, but when it comes time to get a loan, we don’t know the bank’s loan interest rate. How much money we have to repay every month is what every borrower is concerned about. Because the loan interest rates of each bank are different, we must do our homework in advance and understand the bank's loan interest rates when applying for a loan. So let’s take a look at what the interest rates are on each bank’s loan.

The central bank currently sets the interest rate as a one-year benchmark interest rate of 4.35%, 1-3 years (including 3 years) is 4.75%, 3-5 years (including 5 years) is 4.75%, 5-30 Year (including 30 years) is 4.90%.

At present, the loan interest rate of my country's banks is set by the People's Bank of China, and then the major banks fluctuate up and down based on this benchmark according to the prescribed range. Among them, the floating range of commercial banks, city credit cooperatives and other financial institutions is between 0.9% and 1.7%, which means that the central bank allows major banks to float up to 70% and down 10% based on the benchmark interest rate. Because the interest on bank loans is calculated based on the interest rate, and the interest rate and loan amount of each bank are different, so the interest rates are also different.

Banks generally have three loan methods, namely mortgage loans, credit loans, and commercial loans. Because the loan conditions are different, the interest rates and interests are also different.

Mortgage loans:

1. Mortgage loans are used for business operations

The loan amount can generally apply for 70% of the appraised value of the property. The interest rate of the loan must be increased by more than 20% from the central bank's benchmark interest rate based on the bank's policy and the borrower's conditions. The loan term is generally 5 years.

2. The mortgage loan is used for personal consumption

If the mortgage loan is used for personal consumption, the interest rate of the loan can be increased by 10% above the central bank's benchmark interest rate. The assets used for mortgage in this way generally have a mortgage term of 10 years.

3. The mortgage loan is used to buy a house

If the mortgage borrower uses it to buy a house, the bank’s loan interest rate is 1.1 times the original base interest rate. The loan period has also been reduced from the original 20 years to 10 years.

When applying for a mortgage loan, the borrower's borrowing period is related to his or her qualifications. If the individual has good credit and strong repayment ability, the higher the loan limit.

Credit loan:

The interest rate of general credit loan is higher than that of other loan methods, because credit loan is an unsecured loan, the procedures are relatively simple, and the threshold is also low. It is relatively low, so the interest rate is higher than that of ordinary loans. At present, the unsecured credit loan interest rates of major banks are all raised by at least 30% above the central bank's benchmark interest rate. Calculated based on the five-year loan period, if the loan is raised by 30% on the basis of 4.35%, the five-year interest rate will be approximately 6.18%. When we take out a loan, we need to calculate the monthly repayment amount to see if we can afford it.

If the credit loan is used for personal consumption, such as travel, daily consumption, and durable goods consumption, you can choose provident fund credit joint loans from China Construction Bank, Bank of Communications, etc., which have small loan amounts and relatively low interest rates. Product, if our credit loan is used for decoration, buying a car, or other consumption that requires a lot of funds, you can choose a credit loan product with a high loan amount, lower interest rate, and longer loan period.

However, it should be noted that there are many factors that affect credit loans, including credit requirements for borrowing, asset status, and repayment ability.

Commercial loan:

Commercial loan is also known as "personal housing loan". Home buyers pay a down payment when buying a house, and then pay a certain amount of principal and interest to the bank every month. For commercial loans of 1 year or more, the annual interest rate is 4.35%, for 1 to 5 years (inclusive), the annual interest rate is 4.75%, and for more than 5 years, the annual interest rate is 4.90%. The tax rate for provident fund loans is 2.75% for less than 1 year, 2.75% for 1-3 years, 2.75% for 3-5 years, and 3.25% for more than 5 years. Affected by the purchase and loan restriction policy, major banks have different adjustments to first-home loan interest rates. According to statistics, the average interest rate for first-time buyers is 5.38%, with interest rates generally rising by 5%-20%, second-time homes by 10%-30%, and provident fund loan interest rates by 10%.

In general, the interest on bank loans is calculated based on the interest rate, and the interest rate and loan amount of each bank are different, so the interest rates are also different. The benchmark annual interest rate for loans set by the central bank is 4.35%, the interest rate for 1-3 years is 4.75%, the interest rate for 3-5 years is 4.75%, and the interest rate for 5-30 years is 4.90%. The major banks fluctuate up and down based on the base interest rate within a reasonable range, that is to say, the maximum floating range is 70% and the downward floating range is 10%. The above is my answer to what is the interest rate of bank loans. I hope it can help you.

What is the interest rate of bank credit loans?

Compared with mortgage loans, the non-performing loan rate of credit loans is very high, so the gap between the interest rates of personal credit loans of various banks is relatively large. , its annual interest rate ranges from 8% to 20%, and the base interest rate fluctuates by about 20% to 30%.

Taking the Agricultural Bank of China as an example, the benchmark interest rate for personal loans has increased by more than 30%, and individuals can only apply for a maximum loan limit of 200,000 yuan, with the annual interest rate remaining at around 8.05%.

However, unlike major state-owned banks, the annual interest rates of some joint-stock banks are higher. The average annual interest rate of personal loans of Ping An Bank is around 10%, while that of China Merchants Bank is around 12%.

Equal principal and interest calculation formula:

Monthly repayment amount = monthly principal interest rate [(1-month interest rate)^n/[(1-month interest rate)^n-1] where n represents the number of months of the loan, ^n represents the nth power

Total interest = monthly repayment amount - number of months of the loan - principal

Equal principal method calculation formula:

Monthly repayment = principal/n monthly interest rate on remaining principal

Total interest = monthly interest rate on principal (number of loan months/20.5)

ICBC’s credit loan interest rate What is the loan interest rate of ICBC? The annual interest rate for six months (inclusive) is 4.35, the annual interest rate is 4.35 for six months to one year (inclusive), the annual interest rate is 4.75 for one to three years (inclusive), and the annual interest rate is 4.75 for three to five years. Years (inclusive) are 4.75, and more than five years are 4.9.

Loan interest rates are subject to change. The above is just a unified benchmark interest rate, which can be raised or lowered in various places according to actual conditions. Please consult the local Industrial and Commercial Bank of China for specific interest rate implementation.

Extended information

ICBC loan conditions

1. A natural person with full capacity for civil conduct, aged between 18 (inclusive) and 60 years old (inclusive) )between. Foreigners and residents of Hong Kong, Macao and Taiwan who are borrowers must have lived in the People's Republic of China for one year and have a fixed residence and occupation.

2. Have legal and valid identity certificate, household registration certificate (or valid residence certificate) and marital status certificate.

3. The borrower has legal business qualifications and can provide an individual business license, a partnership business license or a corporate business license.

4. Have a stable source of income and the ability to repay the principal and interest of the loan in full and on time.

5. Have a good credit record and willingness to repay, and the borrower and its operating entities have no bad credit records in ICBC and other known financial institutions.

6. Be able to provide effective and reliable loan guarantees that are approved by lenders.

7. The borrower opens a personal settlement account with ICBC.

8. Other conditions specified by ICBC.

Which bank has the lowest interest rate for credit loans

1. China Merchants Bank. For the launched credit loan, China Merchants Bank Flash Loan, you can receive a 10% discount coupon on Monday, and the interest rate after the discount will be no less than the annualized interest rate of 5.04%.

2. China Construction Bank. The credit loan launched, CCB Quick Loan, is as low as 4.35%, but the specific interest rate needs to be differentiated by the system based on factors such as the borrower's credit and contribution.

3. Agricultural Bank of China. The credit loan launched - Agricultural Bank of China Online Loan, the maximum loan amount is 200,000, and new users who sign a one-year contract can enjoy an interest rate discount of as low as 4.35%-4.5%.

4. Postal Savings Bank launched a credit loan - Youxiangdai - Youkezunxiang, with a maximum limit of 200,000, and an annual interest rate of 4.35%-7.05%. It is adopted based on a comprehensive evaluation based on the borrower's qualifications. Differentiated interest rates.

Flash Loan

Flash Loan: China Merchants Bank Flash Loan is an online loan product launched by China Merchants Bank. Currently, only users who have received an invitation from China Merchants Bank’s Flash Loan can apply for CMB’s Flash Loan. Flash loan, after the CMB flash loan application is successful, the money will be released to the user's CMB all-in-one card within 24 hours. After the funds arrive in the CMB all-in-one card, the user can normally use the all-in-one card to perform other operations, transfer money and withdraw cash. "Flash Loan" is a comprehensive online personal loan product provided by China Merchants Bank to the bank's retail customers. As long as the customer meets China Merchants Bank's loan credit conditions, China Merchants Bank will proactively determine a loan limit for the customer. Application qualifications will be notified to customers via SMS or other means. Compared with traditional loan business, the procedures for "flash loan" products are simpler and more convenient. Customers can apply for loans by themselves through CMB's mobile banking, and CMB's system will automatically complete the loan approval and disbursement.