What's the interest rate of deposit pledge loan?
Generally speaking, the loan interest rate of deposit pledge will be higher than the deposit interest rate, and the interest will be different because of the loan amount, loan term and loan bank. For example, when ICBC applies for a deposit pledge loan through online channels, its execution interest rate is generally not lower than the LPR of the corresponding term of the loan. In addition, if the borrower uses its own funds to repay in advance, resulting in the actual term of the loan not exceeding 30 days, the interest rate will rise by 30% on the basis of the contract execution interest rate.
Why should I apply for a deposit mortgage loan?
Under some special circumstances, deposit mortgage loan is useful. For example, depositors have a deadline that has not expired, but they need money urgently at this time. If he withdraws in advance, it means that the interest in these years will be calculated according to the current period, which is naturally not cost-effective. At this time, although the loan interest is higher than the deposit interest, it is more cost-effective than the interest loss of early withdrawal.
The above are some contents of deposit pledge loan, so you can pay attention to it.