additional information
If calculated at the monthly interest rate, the monthly interest of 10000 yuan is: 65 yuan, and after one year, the interest is: 780 yuan. The principal and interest are: 10780 yuan.
Interest rate of bank loans: According to the Law of the People's Republic of China on the People's Bank of China, Article 23 The People's Bank of China can use the following monetary policy tools to implement monetary policy: (1) Require banking financial institutions to deposit reserves in a prescribed proportion; (2) Determining the benchmark interest rate of the central bank; (4) Providing loans to commercial banks; (6) Other monetary policy instruments determined by the State Council. The People's Bank of China may prescribe specific conditions and procedures when applying the monetary policy tools listed in the preceding paragraph for the implementation of monetary policy.
China's "Adjustment Table of RMB deposit and loan benchmark interest rates of financial institutions" stipulates as follows: The People's Bank of China has decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from February 24th, 201May to further reduce the social financing cost. Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to1.5%; The benchmark interest rates of other loans and deposits and the lending rates of the People's Bank of China to financial institutions are adjusted accordingly; The interest rate of individual housing provident fund loans remains unchanged. Banks have the right to float on the basis of the benchmark interest rate. The specific domestic bank deposit interest rate, loan interest rate and provident fund loan interest rate shall be subject to the actual announcement of the bank. At present, as joint-stock banks have raised the interest rate of fixed deposits, the interest rate marketization has shown signs of starting, and the deposit interest rates of various banks have different degrees of concessions.
202 1 The latest benchmark loan interest rate is: 1. The benchmark interest rate for loans of financial institutions is 4.35% for one year, 4.75% for one to five years, and 4.90% for more than five years. 2. The above-mentioned benchmark loan interest rate is the specific interest rate stipulated by the People's Bank of China, but at present, domestic banks have the right to float appropriately on the basis of the established benchmark loan interest rate. Therefore, in domestic loans, lenders should pay attention to the interest rates actually announced by banks, and sometimes there will be preferential activities.