Select the LPR selection time for existing loans. If you want to enjoy the mortgage cost savings brought about by the falling interest rates as soon as possible, you can choose to adjust the loan date corresponding to the date. If you choose a re-pricing date, it depends on the month in which the mortgage is disbursed. If it is June 21, then it depends on the specific LPR quotation on June 20 each year. If the quotation in that month is low, you can enjoy the discount immediately.

For personal loan borrowers, if the current loan interest rate is not high, such as only 3 or 4, then it is better to choose a fixed interest rate, because it may not drop that low in the future. But if the interest rate is close to 5, it needs to be converted into LPR interest rate.

Extended information:

The LPR interest rate is determined by 18 quoting banks. The 18 LPR quoting banks are all banks of the same type with strong influence, credibility and pricing capabilities. , and need to be quoted based on the bank’s loan interest rate for the best customers.

In other words, the quotations of the quotation banks are supported by real transactions. At the same time, the People's Bank of China and the interest rate pricing self-regulatory mechanism strictly supervise the quotation behavior of each quotation bank, regularly assess the quality of its quotations, and eliminate the fittest according to the assessment results.

People's Daily Online - Countdown to LPR interest rate conversion. To convert or not to convert?