Interest = loan amount * loan term * loan interest rate.
The loan interest rate of rural commercial banks is determined by floating on the basis of the current RMB loan benchmark interest rate according to the borrower's credit situation, the use of funds, the loan method and the policies and regulations of local rural commercial banks. At present, the benchmark interest rate of RMB loans is as follows:
1, commercial loan:
(1) If the loan term is within 1 year (inclusive), the annual interest rate is 4.35%;
(2) loan term 1~5 years (including 5 years), with an annual interest rate of 4.75%;
(3) When the loan term exceeds 5 years, the annual interest rate is 4.90%.
2, housing provident fund loans:
(1) If the loan term is less than 5 years (including 5 years), the annual interest rate is 2.75%;
(2) When the loan term exceeds 5 years, the annual interest rate is 3.25%.
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
Generation factor
1, delayed consumption
Lenders lend money, which is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer current goods to future goods, so there will be positive interest rates in the free market.
2. Expected inflation
Inflation will occur in most economies, which means that a certain amount of money will buy less goods in the future than it does now. So the borrower needs to compensate the lender for the losses during this period.
3. Alternative investment
Lenders can choose to invest their money in other investments. Due to the opportunity cost, the lender lends money, which is equivalent to giving up the possible return on other investments. Borrowers need to compete with other investments for this fund.
4. Investment risk
Borrowers are at risk of bankruptcy, absconding or default at any time, and lenders need to charge extra fees to ensure that they can still get compensation under these circumstances.
5. Mobility preference
People will prefer that their funds or resources can be traded immediately at any time instead of spending time or money to get them back. Interest rate is also a kind of compensation for this.
Market function
As the use price of funds, interest plays a very important role in the operation of market economy, mainly in the following aspects:
Functions that affect enterprise behavior
As the occupation cost of an enterprise, interest directly affects the economic benefits of the enterprise. In order to reduce costs and improve efficiency, enterprises should do everything possible to reduce the amount of funds, and at the same time compare the costs of various financing methods in the process of financing. If enterprises in the whole society regard saving interest expenses as a common behavior mode, then the efficiency of economic growth will certainly be improved.
Function of influencing residents' asset selection behavior
With the increasing real income level and savings rate of Chinese residents, asset selection behavior has emerged. The increase of financial instruments provides an objective basis for residents' asset selection behavior, and interest income is the main incentive for residents' asset selection behavior. Residents' departments attach importance to interest income and spontaneously produce asset selection behavior, which has an impact on macro-control and micro-foundation reconstruction. Judging from the situation in China, the high savings rate has become a major feature of China's economy, which provides a solid capital base for the rapid economic growth, and the various asset selection behaviors made by residents under the incentive of interest income have contributed to the realization of various macro-controls.
Functions that affect government behavior
Since interest income is closely related to the economic interests of deficit and surplus departments in the whole society, the government can also use it as an important economic lever to regulate economic operation. For example, if the central bank takes measures to lower interest rates, more money will flow to the capital market, and when interest rates increase, funds will flow out of the capital market. If the government raises funds by credit, it can issue treasury bonds at an interest rate higher than the bank's deposit interest rate for the same period, and absorb private monetary funds into the hands of the government for various financial expenditures.