The loan market quotation rate (LPR) refers to the interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China after the quotation of 18 quotation bank, including 1 year and more than 5 years. From August 20th, 20 19, LPR will be published on the website of National Interbank Funding Center and China People's Bank at 9: 30 on the 20th of each month (postponed in case of holidays).

(Response time: June 22, 2022. The above contents are for your reference. If there are business changes, please refer to the latest business rules. )

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What do the five-year and one-year interest rates of LPR mean?

First of all, answer directly.

The main difference between five-year and one-year LPR is that.

Second, the specific analysis

1. The loan term is different.

Generally speaking, the one-year LPR interest rate applies to loans with a term of less than one year and loans with a term of one to five years.

If the loan term exceeds five years, it shall be implemented at the LPR interest rate of more than five years.

For example, for personal housing commercial loans, because the loan term is generally 20 or 30 years, the pricing benchmark of its interest rate is the LPR interest rate of more than five years (the commercial loan interest rate is added by the LPR of the corresponding period as the pricing benchmark).

2. Different pricing.

The quotation of one-year LPR interest rate is naturally lower than that of five-year LPR interest rate.

The current offer is.

The one-year LPR interest rate is 3.7%.

The five-year LPR interest rate is 4.6%.

Since LPR will re-quote on the 20th of each month (postponed in case of holidays) (usually announced at 9: 30 on the same day), the interest rate may fluctuate afterwards.

For details, please refer to the website of National Interbank Funding Center and China People's Bank.

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Is the benchmark interest rate monthly or annual?

The benchmark interest rate refers to the annual interest rate.

Both loans and deposits have benchmark interest rates, which are announced by the People's Bank of China. Commercial banks will adjust the loan interest rates and deposit interest rates within a certain range according to the benchmark interest rates given by the People's Bank of China.

Therefore, the benchmark interest rate has a strong reference significance, but the People's Bank of China will not adjust the benchmark interest rate frequently.

After the benchmark interest rate is adjusted, the deposit and loan interest rates of commercial banks will also be adjusted accordingly. It can be seen that the adjustment of the benchmark interest rate will directly affect our daily life.

Benchmark interest rate of mortgage loan

LPR generally refers to the quoted interest rate in the loan market, and there will be a gap in the implementation of mortgage interest rates.

The benchmark loan interest rate (LPR) is the benchmark loan interest rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. Representative quotation banks quote in the form of open market operating rate (mainly referring to medium-term lending convenience rate) according to the bank's loan interest rate to the best quality customers. All financial institutions should mainly refer to the loan pricing of LPR. At present, LPR includes one-year and five-year varieties.

LPR has a high degree of marketization, which can fully reflect the supply and demand of funds in the credit market. Using LPR for loan pricing can promote the marketization of loan interest rate and improve the transmission efficiency from market interest rate to credit interest rate.

What is LPR?

LPR is the basic loan reference interest rate calculated and published by the representative quotation bank on the basis of the bank's loan interest rate for the best quality customers and the open market operating interest rate, and authorized by the National Interbank Funding Center of the People's Bank of China. In the future, LPR will become the main reference benchmark for loan interest rate pricing. Representative quotation banks are: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China CITIC Bank, China Merchants Bank, Industrial Bank, Shanghai Pudong Development Bank, China Minsheng Bank, Xi 'an Bank, Taizhou Bank, Shanghai Rural Commercial Bank, Guangdong Shunde Rural Commercial Bank, Standard Chartered Bank (China), Citibank (China), Weizhong Bank and online merchant bank.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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