can the interest rate of the loan be changed? There are two situations:
In July, the average interest rate of the first home loan in China was 5.44%, which means that the benchmark rate rose by about 11% (5.44%/4.9%-1). Suppose your loan interest rate is 5.44%, then even if the average loan interest rate of the first suite in China drops to 4.9% in the future, you still have to pay back the loan interest rate of 5.44%.
that is, the personal mortgage interest rate does not change with the change of market interest rate, and the floating rate will remain unchanged forever. The same is true for adding basis points after December 8, and the basis points added will remain unchanged forever. For example, 5.44% is based on LPR five-year period of 4.85% plus 59 basis points.
if the benchmark interest rate changes, for example, the benchmark interest rate for loans with a term of more than five years is reduced from 4.9% to 4.8%, then the floating rate will remain unchanged. Generally, the repayment interest rate will be changed to 4.8%*111%=5.325% from January 1 next year, which is slightly lower than 5.44%.
The same is true for LPR after October 8th, with 5.44% being 59 basis points on the basis of 4.85%. When the five-year LPR is reduced from 4.85% to 4.75%, the specific contract date is changed to 4.75%+.59=5.34%, which is slightly lower than 5.44%.
after adopting the new personal loan benchmark, the central bank stipulates that the loan interest rate can be re-priced at least once a year within the loan contract period (the specific period will be agreed with the bank), and the basic principle of pricing is to adjust the LPR in the latest month, and the added part will be fixed.
after the mortgage interest rate is lowered, the loans already issued cannot be changed immediately. Banks will generally adjust the new mortgage interest rate until January of the following year.
China's mortgage interest is a floating interest rate, and the mortgage interest rate issued by banks can fluctuate within the floating range stipulated by the state according to the benchmark interest rate. With the change of housing policy, the country adjusts the benchmark interest rate, and the personal mortgage interest will also change.
the calculation formula of mortgage interest is: interest = principal x benchmark interest rate (month) x floating rate x months. if the mortgage interest rate is adjusted, the benchmark interest rate in the formula will become the new interest rate, and the floating rate will remain unchanged.
after the interest rate is adjusted, it is suggested that you take your ID card to the loan bank to print a repayment plan in the following year, so that you can clearly understand the mortgage situation in your own name, such as the implementation interest rate, monthly repayment principal, interest and term.
first of all, let's talk about the benchmark interest rate. The benchmark interest rate is an interest rate that has a universal reference function in the financial market, and other interest rate levels or financial asset prices can be determined according to this benchmark interest rate level. If we apply for a bank loan, the bank will have an executive interest rate, which is based on the benchmark interest rate, and then appropriately float or discount according to the market combined with the bank's own products, market positioning and commercial profit model. For example, the benchmark interest rate for commercial loans with mortgages for more than five years is 4.9%, but when many Wuxi friends apply for loans, the loan interest rate is about 5.8%. So is this loan interest rate fixed? Will it change?
actually, whether the loan interest rate is fixed depends on what kind of contract you signed. If the contract stipulates that the loan interest rate is a fixed interest rate, then the interest rate will not change. If it is a floating interest rate, then it will change with the bank's implementation of the interest rate, and everything is subject to the contract. If you sign a floating interest rate, you may enjoy the discount offered by the bank during the repayment process, but there is also the possibility that the interest rate will rise.
the bank lending rate will fluctuate according to the signing of the contract. If the benchmark interest rate changes, the lending rate will also change accordingly. After adjustment, it will have no effect on the interest paid, but will have an effect on the adjusted interest. After the adjustment of general bank interest rate, the interest rate of the unpaid part of the loan is also adjusted.
after handling the mortgage, if the bank has regulations, the borrower can re-evaluate the interest rate concessions given to the borrower every year, and decide to cancel all or part of the interest rate concessions given to the borrower according to the national policies, the borrower's credit status and loan guarantee, and notify the borrower in time, and will not enjoy the discount concessions after January of the following year.
in the case of short-term and medium-term loans such as credit loans and mortgage loans, whether the interest rate changes will affect the repayment of the lender mainly depends on whether the contract is signed, whether the interest rate is stipulated or floating. Short-term and medium-term loans are generally signed with fixed interest rates, so whether the bank raises interest basically has no effect. Changes in the national benchmark interest rate that affect the repayment amount of borrowers. If the floating interest rate contract is signed, the interest rate will change in the same way as lending.
if customers get loans through online lending, most of them sign fixed interest rates, because online lending is an electronic contract signed on a mobile phone, so the loan time is short and it is not convenient to change the contract items. As long as the national interest rate changes, the repayment of online loans will increase or decrease accordingly. However, most online loans are accompanied by many so-called "humanized" expenses. When you are short of money, you should be optimistic about every payment of electronic contracts and avoid being overcharged.
does this involve the mortgage interest rate after the bank cut interest rates? Many property buyers have always been concerned about whether the mortgage interest rate will be affected with the interest rate cut. Just on January 4 this year, the central bank announced the RRR cut. Recently, the mortgage interest rates of many banks in some cities have been lowered. Then, how to calculate the mortgage interest rate after the interest rate cut?
In recent years, the central bank has repeatedly introduced the policy of lowering the RRR and cutting interest rates. On January 4, 219, the People's Bank of China once again announced that it would reduce the RMB deposit reserve ratio of financial institutions by 1 percentage point. Among them, it was lowered by .5 percentage points on January 15 and January 25, 219 respectively.