For those who need money, it takes a long time to use it. Therefore, in order to avoid paying more interest, when making a bank loan, we should plan the loan term reasonably. It is also a loan. The longer the loan grade is chosen, the higher the interest rate will be. In other words, the longer the loan term, the different interest will be paid even if it is repaid on the same day. If the loan term of the capital demander is 7 months, although it is only over the half-year time point of 1 month, according to the current loan interest-bearing regulations, only one-year loan interest rate can be implemented, which invisibly increases the loan interest burden of the capital demander. Generally, the term of a small loan company is 3 to 36 months, and that of a bank is calculated on an annual basis, 1 to 3 years. The mortgage type can be 10 year.
Find the gap
The loan management methods of the banking industry mainly include credit, guarantee, mortgage and pledge. Accordingly, when banks implement the loan interest rate, the floating range of the loan interest rate will be different. It is also a loan with the same application period and the same amount. If you choose the wrong loan form, you may bear more loan interest expenses and let yourself pay more for nothing.
Therefore, it is very important for fund demanders to pay attention to and understand the spread under different loan methods when lending to banks. For example, the loans with the lowest bank interest rate are discounted bills and pledged loans. If your own conditions permit, it is definitely more appropriate to borrow through these two forms.