In 2017, the benchmark annual interest rate for commercial loans announced by the People's Bank of China is: 0-6 months (including 6 months), the annual loan interest rate is 4.35%; 6 months-1 year (1 year inclusive), the annual loan interest rate is 4.35%; 1-5 years (5 years inclusive), the loan annual interest rate is 4.75%. 5-30 years (30 years inclusive), the loan annual interest rate is 4.90%. The annual interest rate of personal housing provident fund loans is: . For loans with less than 5 years (including 5 years), the annual interest rate is 2.75%; for loans with more than 5 years, the annual interest rate is 3.25%.

1. Loan interest rates and interest

The "General Rules for Loans" stipulates:

(1) Determination of loan interest rates: The lender shall follow the provisions of the People's Bank of China The upper and lower limits of the loan interest rate shall be determined for each loan and stated in the loan contract;

(2) Calculation and collection of loan interest: The lender and the borrower shall contact the People's Bank of China in accordance with the loan contract Interest accrual provisions, interest is charged or paid on a regular basis. When the extension period of the loan plus the original period reaches a new interest rate grade, the new term grade interest rate will be calculated from the date of extension. Overdue loans will be charged penalty interest in accordance with regulations.

(3) Interest discount on loans: According to national policies, in order to promote the development of certain industries and regional economies, relevant departments can subsidize interest on loans. For loans with interest discounts from relevant departments, the undertaking banks should independently review and issue them, and strictly manage them in accordance with the relevant provisions of the "General Rules for Loans".

(4) Loan interest suspension, interest reduction and interest exemption: Except as stipulated by the State Council, no unit or individual has the right to decide on interest suspension, interest reduction or interest exemption. Lenders shall handle interest suspensions, reductions and exemptions in accordance with the decisions of the State Council and within the scope of their duties and powers.

II. Calculation method of loan interest

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

1. Daily interest rate (0/000)=Annual interest rate (%)÷360=Monthly interest rate (‰)÷30

2. Monthly interest rate (‰)=Annual interest rate (%)÷12

(2) Banks can calculate interest using the cumulative interest calculation method and the transaction-by-transaction interest calculation method.

1. The accumulation interest calculation method is based on the daily accumulated account balance based on the actual number of days, and interest is calculated by multiplying the accumulated accumulation number by the daily interest rate. The interest accrual formula is:

Interest = cumulative interest accrual amount × daily interest rate, where cumulative interest accrual amount = total daily balance.

2. The interest calculation method calculates interest on a case-by-case basis according to the predetermined interest calculation formula: interest = principal × interest rate × loan term. There are three specific methods:

The interest calculation period is the entire Years (months), the interest calculation formula is:

①Interest = principal × number of years (months) × year (months) interest rate

The interest calculation period lasts for a whole year (months) ) If there are fractional days, the interest calculation formula is:

②Interest = principal × number of years (months) × annual (months) interest rate + principal × number of fractional days × daily interest rate

< p>At the same time, the bank can choose to calculate interest by converting all interest accrual periods into actual days, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar in that month. The interest calculation formula is:

③Interest = principal × actual number of days × daily interest rate