At present, the benchmark loan interest rate in China is as follows:
4.35% within 1 year (including 1 year); 1 to 5 years (including 5 years) 4.75%; More than 5 years, 4.90%.
Floating is an uncertain number, which is determined by other factors, such as policies, specific banking regulations and personal circumstances. Attention! It is not a fixed number.
For example, when Xiaoming's loan term exceeds 5 years, his mortgage loan can be calculated as follows:
(1) First home loan: Because it is the first home loan, it is for Xiaoming.
The floating value will be smaller, which is assumed to be 10%.
4.9% x（ 1+ 10%）= 5.39%
(2) Second-home loan: Because it is a second-home loan, under the policy of "housing and not speculating", the floating value given to Xiaoming at this time will be a little larger, and we assume it is 30%.
4.9% x（ 1+30%）= 6.37%
After you sign an agreement with the bank, the floating value will not change. What has changed is that
Benchmark interest rate, which in turn affects your real interest rate.