According to the documents issued by the central bank, the benchmark interest rate for 20 16 years loans is: 4.35% for short-term loans within one year (including one year); The medium and long-term loans for one year to five years (including five years) are 4.75%; Long-term loans of more than five years are 4.90%. The interest rate of individual housing provident fund loans is 2.75% for less than five years (including five years) and 3.25% for more than five years.

The benchmark deposit and loan interest rate is the loan guidance interest rate issued by the central bank to commercial banks, and it is one of the monetary policies used by the central bank to regulate the operation of social economy and financial system. Commercial banks will formulate a portfolio of deposit interest rates based on this benchmark interest rate. Raising the benchmark interest rate means shrinking credit, reducing social mobility, raising the cost of credit and slowing down economic development. Loan interest refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds. Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease. There are three factors that determine loan interest: loan amount, loan term and loan interest rate.

What is the benchmark interest rate of 20 16?

1 and 20 16 loan benchmark interest rates

2. Short-term loans within one year (including one year) 4.35.

3. Medium-and long-term loans, 4.75 for one year to five years (including five years) and 4.90 for more than five years.

4.3. The annual interest rate of individual housing provident fund loans is%, 2.75 for less than five years (including five years) and 3.25 for more than five years.

5. The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124/0 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. At the same time, commercial banks and rural cooperative financial institutions are no longer allowed to set the floating ceiling of deposit interest rates, improve the formation and regulation mechanism of interest rate marketization, strengthen the regulation and supervision of the interest rate system by the central bank, and improve the transmission efficiency of monetary policy.