At present, most banks and financial institutions in the market set the interest rate of microfinance at 1.7%-2.5%. You can calculate the interest according to the interest rate stipulated by the bank. The calculation formula of monthly interest is as follows: loan amount * monthly interest rate = monthly interest rate. Because the loan interest of each institution is slightly different, you can do more research and consultation before applying for a loan. By comparison, institutions with low interest rates and good conditions are selected to apply for small loans.
Microfinance, popularly speaking, is an individual or family-centered business loan, which mainly serves self-employed, small workshops, small owners and individuals. Under normal circumstances, the amount of small loans is generally more than 1000 yuan and less than 200,000 yuan. The interest of small loans is often higher than that of other financial institutions such as banks. So what is the highest interest rate for 20 18 microfinance? Let's find a small series of French network to answer in detail for everyone. Now banks and other lending institutions have microfinance products. As we all know, compared with other loan methods, the threshold of microfinance is lower and the loan is faster, but the interest of microfinance will be higher. In the domestic market, microfinance mainly serves agriculture, rural areas, small and medium-sized enterprises and some individuals.
Legal basis:
Article 39 of the Law of People's Republic of China (PRC) Commercial Bank shall abide by the following provisions on the management of asset-liability ratio: (1) The capital adequacy ratio shall not be less than 8%; (2) The ratio of the balance of current assets to the balance of current liabilities shall not be less than 25%. (3) The ratio of the loan balance to the capital balance of a commercial bank to the same borrower shall not exceed 10%. (4) Other provisions of the State Council Banking Regulatory Authority on the management of asset-liability ratio. If the asset-liability ratio of a commercial bank established before the implementation of this law does not meet the provisions of the preceding paragraph after the implementation of this law, it shall meet the provisions of the preceding paragraph within a certain period of time. Specific measures shall be formulated by the State Council.
Brief summary:
How much is the general interest on small loans? 1.7%-2.5%. Generally speaking, the interest rates determined by different banks and financial institutions are different, but overall, the difference will not be too big. Due to the short term of small loans, the monthly interest rate is generally used as the interest standard.