The downward adjustment of loan interest rate refers to the downward adjustment of LPR interest rate, which can be divided into different periods according to different interest rates.

1, it will never drop. The first is provident fund loan: since the interest rate of provident fund loan is not adjusted according to the interest rate of LPR, the interest rate will not be lowered. Only by reducing on the basis of provident fund loans can the interest on provident fund loans be reduced.

Secondly, the mortgage interest rate is a fixed interest rate: after the implementation of LPR, many LPR borrowers did not change the interest rate pricing model of stock loans, but chose a fixed interest rate. During the loan period, the interest rate will not change with the change of market interest rate and market.

Finally, the mortgage interest rate is the benchmark interest rate: after the implementation of LPR, some people still choose to follow the central bank's benchmark interest rate. Only when the central bank's monetary policy is relaxed will the housing loan interest rate be reduced. Moreover, the basic interest rate of the central bank has also been delisted, so the mortgage interest rate will not change.

2. The repricing date will be reduced. If the LPR interest rate is lowered, new commercial loans and existing housing loans will be priced according to the LPR+ benchmark, or may be lowered, depending on the repricing date. In these days, there are two different prices, one is the annual 1 month 1 day, and the other is the loan date. The borrower can inquire about the specific time according to the loan contract.

Since the new loan interest rate is determined according to last month's LPR interest rate, it can only be adjusted once a year on the repricing date.

What if the interest rate hasn't come down?

If the mortgage interest rate does not drop, the borrower's interest expense will not decrease. Although the borrower can't interfere with the change of the loan interest rate, he can reduce the interest expense by prepayment. Early repayment is divided into early partial repayment and early one-time repayment.

1. prepayment: the borrower can apply to the local bank for prepayment every year. Although the remaining principal will be paid at the agreed interest rate, it will be more cost-effective and the interest will be lower if the repayment amount is not changed and the repayment period is shortened.

2. One-time prepayment: refers to the borrower's one-time repayment of the remaining principal until the end of the repayment date. However, most banks have stipulated the repayment period. If the borrower's repayment period is less than one year, it is necessary to pay liquidated damages to the bank, which is stipulated in the loan contract.