First, the loan interest rate of credit cooperatives generally rises by 30% on the benchmark interest rate of the central bank, but it does not rule out that some credit cooperatives rise by 50%. The benchmark interest rate of central bank loans: 1 year, the annual interest rate of loans is 4.35%; /kloc-The annual interest rate of loans from 0 to 5 years is 4.75%; The loan term is more than 5 years and the annual interest rate is 4.9%.

Second, the interest algorithm of rural credit cooperative loans and bank loans is the same. 1. The calculation formula is: loan interest = loan principal * loan time * loan expected annualized interest rate. If the loan time unit is days, the expected annualized interest rate is years: loan interest = loan principal * loan time (days) * loan expected annualized interest rate /360. If the loan time unit is days, the expected annualized interest rate is monthly interest: loan interest = loan principal * loan time (days) * loan expected annualized interest rate/12. We need to pay attention to distinguish the expected annualized interest rate of loan interest of rural credit cooperatives: the percentage sign is the expected annualized interest rate, the micron sign is the expected annualized interest rate of the month, and the semicolon is the expected annualized interest rate of the day.

3. What conditions do rural credit cooperatives need?

1. The age must be 18-65 years old;

2. The borrower has the ability to repay the loan amount and the willingness to repay the principal and interest;

3. The borrower must have full capacity for civil conduct and be responsible for all his actions;

4. The borrower has a certain monthly income, which is higher than the national standard of minimum living guarantee income of rural credit cooperatives in China;

5. The borrower has good conduct and no criminal record or bad situation;

6. The borrower has a fixed residence in the rural area of China, and has full capacity for civil legal conduct and reeducation through labor;

7. The borrower opens an ordinary deposit account in the rural credit cooperative and has a certain amount of deposit;

9. Meet other requirements of rural credit cooperatives.

Four. The following is the application process:

1. You need to bring your ID card, local residence permit, income certificate, marriage certificate, loan purpose and other related materials to the rural credit cooperatives to fill out the loan application form;

2. For banks awaiting approval, there will be professionals in the bank to review the authenticity of their qualifications and materials, and the audit results will be reported to the higher authorities, who will decide whether to approve the loan application;

3. After approval, the borrower signs a loan contract with the rural credit cooperative. If there are mortgage projects, it is necessary to sign relevant mortgage contracts;

4. Rural credit cooperatives issue loans to borrowers;

5. The borrower pays off the loan principal and interest on time.