1. What does the bank benchmark interest rate mean?
1. The benchmark interest rate of a bank is an interest rate with universal reference function in the financial market, and other interest rate levels or financial asset prices can be determined according to this benchmark interest rate level.
Generally speaking, it is a weather vane of interest rate level in the market. All financial institutions determine their own loan and deposit interest rates according to this standard. Raising or lowering the benchmark interest rate by the central bank means raising or lowering the interest rate level of the whole society.
3. At present, the benchmark interest rate of banks has the following basic characteristics:
(1) marketization. Obviously, the benchmark interest rate must be determined by the relationship between market supply and demand, which not only reflects the actual market supply and demand, but also reflects the market's expectations for the future;
(2) foundation. The benchmark interest rate plays a fundamental role in the interest rate system and the price system of financial products, and has a strong correlation with the interest rates of other financial markets or the prices of financial assets.
(3) transitivity. The market signal reflected by the benchmark interest rate, or the regulatory signal sent by the central bank through the benchmark interest rate, can be effectively transmitted to other financial markets and financial product prices.
2. What is the benchmark interest rate of the bank?
The benchmark interest rate of banks is the guiding interest rate of commercial banks in terms of deposits, loans and discounts announced by the People's Bank of China, which is of guiding significance to the interest rate standards of these industries. At present, the deposit interest rate of financial institutions can be lowered 10% based on the benchmark interest rate, and the loan interest rate can be lowered by 20% based on the benchmark interest rate. Next, let's look at the bank's benchmark interest rate. This needs to be determined according to different deposit and loan projects.
1, demand deposit
Interest rate: 0.35%
2. Lump-sum time deposit
Time: three months, interest rate: 1. 1%.
Time: half a year, interest rate: 1.3%
Time: one year, interest rate: 1.5%
Time: two years, interest rate: 2. 1%
Time: three years, interest rate: 2.75%
3. Commercial loans
Time: within one year (including one year), interest rate: 4.35%.
Time: one to five years (including five years), interest rate: 4.75%.
Time: more than five years, interest rate: 4.9%
4. Provident fund loans
Time: less than five years (including five years), interest rate: 2.75%
Time: more than five years, interest rate: 3.25%
3. What is the impact of lowering the bank's benchmark interest rate on existing loans?
1. Lowering the bank's benchmark interest rate will have a certain impact on existing loans. If the bank lowers the benchmark loan interest rate, your repayment amount will decrease, and if it raises the benchmark loan interest rate, your repayment amount will increase.
2. After the general bank interest rate adjustment, the interest rate of the unpaid part of the loan will also be adjusted accordingly. There are three forms:
(1) After the bank's interest rate is adjusted, the newly adjusted interest rate will be implemented at the beginning of the following year (at present, ICBC, Agricultural Bank of China and China Construction Bank are all like this);
(2) annual adjustment, that is, the new interest rate is adjusted and implemented every year of repayment (at present, domestic bank mortgages are like this);
(3) Both parties agree to implement the new interest rate level in the next month after the bank's interest rate adjustment.
3. Mortgage changes with the change of national policies. The national 30% discount is a 30% discount based on the benchmark interest rate. If the benchmark interest rate changes, it will rise by 30% on the basis of the benchmark interest rate. If the 30% discount policy is cancelled, the interest rate discount on outstanding loans will also be cancelled. Of course, it has no effect on the part of interest that has been repaid.
The above is about
What does the bank benchmark interest rate mean? What is the bank benchmark interest rate? What is the impact of the reduction of the bank benchmark interest rate on existing loans? I hope I can help you. Interested friends can also check it out.