1. What is the interest rate of CCB’s home loan in Shandong now?
The interest rate of CCB’s home loan is based on the same loan interest rate of the People’s Bank of China as follows: 1. The loan period is 0-6 months (inclusive), the annual interest rate is 4.35 for a loan term of less than 1 year (inclusive) and more than 6 months; for a loan term of 4 or more than 5 years, the annual interest rate is 4.90. In addition to ordinary loans, CCB's housing loans also have a provident fund loan. The interest rate of the loan is: 1-year interest rate is 3.25; 2. 1-
2. What is the CCB housing loan interest rate in 2020?
2020 Construction Bank loan benchmark interest rate:
1. Short-term loans:
(1) Annual interest rate within one year (including one year): 4.35.
2. Medium and long-term loan:
(1) Annual interest rate from one to five years (including five years): 4.75.
(2) Annual interest rate for more than five years: 4.90.
3. Personal housing provident fund loan:
1. Annual interest rate for less than five years (including five years): 2.75.
2. Annual interest rate for more than five years: 3.25.
Extended information:
There are two calculation formulas for mortgage repayment methods:
1. Calculation formula for equal principal and interest:
Calculation principle: From the monthly monthly payment, the bank first collects the interest on the remaining principal and then the principal; the proportion of interest in the monthly payment will decrease as the remaining principal decreases, and the proportion of principal in the monthly payment will decrease. The percentage increases due to the increase, but the total monthly payment remains the same.
It should be noted that:
(1) The maximum amount of provident fund loans in various cities should be considered based on local conditions.
(2) For residents who have purchased a house with a loan but the per capita area is lower than the local average, and then apply to buy a second ordinary self-owned house, the preferential policies for purchasing an ordinary self-owned house with a first loan will be implemented accordingly.
2. Calculation formula for equal amounts of principal:
Monthly repayment = monthly principal, monthly principal and interest
Monthly principal = principal/ Number of repayment months
Monthly principal and interest = (principal - total cumulative repayment) Decrease due to decrease in remaining principal.