The expected annualized interest rate of a loan refers to the ratio of the interest amount to the principal amount during the loan period. The expected annualized interest rate in China is managed by the People's Bank of China. The expected annualized interest rate of bank loans refers to the benchmark expected annualized interest rate set by the People's Bank of China, and the actual contract expected annualized interest rate can fluctuate within a certain range based on the benchmark expected annualized interest rate.
Precise definition
The expected annualized interest rate of a loan refers to the ratio of the interest amount to the principal amount during the loan period. The expected annualized interest rate of a loan contract with banks and other financial institutions as lenders is certain, and the parties can only determine it through consultation within the upper and lower limits of the expected annualized interest rate stipulated by the Bank of China. If the expected annualized interest rate of the loan is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease.
The expected annualized loan interest rate is the main basis for the parties to the loan contract to calculate the loan interest, and the expected annualized loan interest rate clause is the main clause of the loan contract. The determination of the expected annualized interest rate of loan contracts with banks and other financial institutions as lenders can only be determined by the parties through consultation within the upper and lower limits of the expected annualized interest rate stipulated by the People's Bank of China. If the expected annualized interest rate of the loan agreed by the parties is higher than the upper limit of the expected annualized interest rate stipulated by the People's Bank of China, the excess will be invalid; If the expected annualized interest rate agreed by the parties is lower than the lower limit of the expected annualized interest rate stipulated by the People's Bank of China, the lowest expected annualized interest rate stipulated by the People's Bank of China shall prevail. In addition, if the lender charges any other fees except interest in violation of the regulations of the People's Bank of China, it will be punished by the People's Bank of China.
The expected annualized interest rate of loans is generally higher than the expected annualized interest rate of deposits, and the difference between them is the main source of bank profits.
Basic overview
The expected annualized interest rate of bank loans refers to the ratio of the interest amount to the principal amount during the loan period. The expected annualized interest rate in China is managed by the People's Bank of China. The expected annualized interest rate of bank loans refers to the benchmark expected annualized interest rate set by the People's Bank of China, and the actual contract expected annualized interest rate can fluctuate within a certain range based on the benchmark expected annualized interest rate.
Bank historical benchmark expected annualized interest rate
On June 8, 20 12, the People's Bank of China decided to lower the expected annualized interest rate of RMB deposits and loans of financial institutions from June 8, 20 12. The expected annualized interest rates of financial institutions' one-year deposit and loan benchmarks are lowered by% respectively, and the expected annualized interest rates of housing provident fund deposits and loans are also lowered simultaneously.
On July 6, 20 1 1, the People's Bank of China decided to raise the expected annualized interest rate of RMB deposits and loans of financial institutions from July 7, 201/. The expected annualized interest rates of financial institutions' one-year deposit and loan benchmarks are raised by% respectively, and the expected annualized interest rates of housing provident fund deposits and loans are also raised simultaneously.
On April 5, 20 1 1, the People's Bank of China decided to raise the expected annualized interest rate of RMB deposits and loans of financial institutions from April 6, 201/. The expected annualized interest rates for one-year deposits and loans of financial institutions are raised by% respectively.
On February 8, 20 1 1, the People's Bank of China decided to raise the expected annualized interest rate of RMB deposits and loans of financial institutions from February 9, 201/. The expected annualized interest rates of one-year deposit and loan benchmarks of financial institutions are raised by% respectively, and the expected annualized interest rates of other deposit and loan benchmarks are adjusted accordingly.
2010 65438+On February 25th, the People's Bank of China decided to raise the expected annualized interest rate of RMB deposits and loans of financial institutions from February 26th. The expected annualized interest rates of one-year deposit and loan benchmarks of financial institutions are raised by% respectively, and the expected annualized interest rates of other deposit and loan benchmarks are adjusted accordingly.
From 201019, the expected annualized interest rate of RMB deposits and loans of financial institutions will be raised by 2010/0.20. The expected annualized interest rate of one-year deposit benchmark of financial institutions will be raised by%, from the current one-year loan benchmark by%, and from the current one-year benchmark to other grades of deposit and loan benchmark, and the expected annualized interest rate will be adjusted accordingly.
165438+20081October 27th, 20081October 27th, the expected annualized interest rate of one-year RMB deposits and loans of financial institutions will be lowered by various percentage points, and the expected annualized interest rates of deposits and loans of other maturities will be adjusted accordingly. At the same time, the expected annualized interest rate of the central bank's refinancing and rediscounting will be lowered.
June 29, 2008 From June 30, 2008, the expected annualized interest rate of one-year deposit benchmark will be lowered from the current level to%. The expected annualized interest rate of the one-year loan benchmark is lowered from the current 1% to 2.5%; The expected annualized interest rates of other deposit and loan benchmarks will also be adjusted accordingly. The expected annualized interest rate of individual housing provident fund loans remains unchanged.
On June 8, 2008,65438+20081October 9, the expected annualized interest rate of one-year RMB deposit and loan benchmark was lowered by several percentage points; From June 5438+10 to June 5438+May 2008, the RMB deposit reserve ratio of deposit-taking financial institutions was lowered by%.
September 15, 2008 Since September 16, 2008, the expected annualized interest rate of one-year RMB loan benchmark has been lowered by%; From September 25th, 2008, the RMB deposit reserve ratio of deposit-taking financial institutions will be lowered by 1 percentage point.
From 65438, 2007 to February 20th, 2007, the expected annualized interest rate of one-year deposit benchmark was raised by%; The one-year loan benchmark is expected to increase the annualized interest rate by 10%.
On September 15, 2007, the expected annualized interest rate of RMB deposits and loans of financial institutions was raised by%.
On August 22nd, 2007, the expected annualized interest rate of RMB deposits and loans of financial institutions was raised by%.
On July 20, 2007, the expected annualized interest rate of RMB deposits and loans of financial institutions was raised by%.
In May 2007 19, the expected annualized interest rate of one-year deposit benchmark was raised by%; The one-year loan benchmark is expected to increase the annualized interest rate by 10%.
On March 8, 2007 18, the expected annualized interest rate of RMB deposits and loans of financial institutions was raised by%.
On August 28th, 2006, the expected annualized interest rate of one-year deposit and loan benchmark was raised. On April 28, 2006, the expected annualized interest rate of financial institutions' loans was raised to March 28, 2006, and the expected annualized interest rate of housing loans was raised.
On June 29, 2004, the expected annualized interest rate of one-year deposits and loans was raised. On July 65, 2004, the expected annualized interest rate of one-year time deposits was raised to May 65, 2004, and the expected annualized interest rates of time deposits of all grades were raised on average.
Basic knowledge of interest calculation
(1) The conversion formula of the expected annualized interest rate of RMB business is (note: common for deposits and loans):
1. Expected annualized interest rate (0/000)= Expected annualized interest rate (%)÷360= Expected annualized interest rate (‰)÷30.
2. Expected monthly annualized interest rate (‰) = expected annualized interest rate (%)÷ 12.
(two) banks can use the product interest method and the transaction interest method to calculate interest.
1. Accumulate the account balance every day according to the actual number of days, and multiply the accumulated product by the expected annualized interest rate every day to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × expected annualized interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × expected annualized interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
1 interest = principal × year (month )× expected annualized interest rate.
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
2 Interest = principal × number of years (months) × expected annualized interest rate of years (months)+principal × expected annualized interest rate of odd days × days.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
3 Interest = principal × actual days × daily expected annualized interest rate
These three formulas are essentially the same, but because the expected annualized interest rate is only 360 days a year, when calculating the actual daily expected annualized interest rate, it will be calculated as 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
(3) Compound interest: Compound interest refers to adding interest at a certain expected annualized interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.
(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the defaulter according to the contract signed with the parties is called bank penalty interest.
(V) loans overdue liquidated damages: penalties for the defaulting party with the same nature as penalty interest.
(six) the formulation and filing of interest calculation methods
The interest-bearing settlement rules and methods for deposit and loan business formulated by national commercial banks as legal persons shall be reported to the head office of the People's Bank of China for the record, and the customers shall be informed; Regional commercial banks and urban credit cooperatives should be reported to the branches of the People's Bank of China and the central branch of the provincial capital for the record, and inform customers; County rural credit cooperatives as legal persons may, according to the actual situation of the county rural credit cooperatives, formulate the rules for interest calculation and settlement and the interest-bearing measures for deposit and loan business, and report them to the branch of the People's Bank of China and the central branch of the provincial capital for the record, and the rural credit cooperatives as legal persons shall notify the customers.
(7) Reference basis:
1. Provisions on the Administration of Expected Annualized Interest Rate of RMB (Yinfa 199977).
2. Notice of the People's Bank of China on issues related to the expected annualized interest rate of RMB loans. 200325 1).
3. Notice of the People's Bank of China on Interest Calculation and Settlement of RMB Deposits and Loans (Yinfa [2004]10/No.. 2005 129).
Standard formula for calculating loan interest
How to calculate the interest on bank loans? For borrowers, of course, the biggest concern is interest. So, how to calculate the loan interest? According to the actual situation, the amount of loan interest mainly depends on the expected annualized interest rate of each lending institution (generally floating within the expected annualized interest rate set by the central bank) and the repayment method. Due to different repayment methods, such as average capital repayment method and average capital repayment method, the monthly loan interest is different. But no matter what loan method, there is a standard and unified calculation rule for loan interest.
Standard formula for calculating loan interest:
Loan interest of the current month = remaining principal of the previous month * expected annualized interest rate of the loan month;
Principal paid in the current month = repayment amount in the current month-loan interest in the current month;
Remaining principal of last month = total loan-accumulated principal repayment;
So, how to calculate the loan interest? Below we can according to a practical example to illustrate:
If Borrower A borrows RMB 654.38+10,000 from XX Bank, and the loan term is 3 years, it will be implemented at the expected annualized interest rate of 2065.438+03, and the expected annualized interest rate of the monthly loan is 1 year. What is the expected annualized interest rate of the loan?
The first month loan interest =10000 * 0.5125% = 512.5;
Principal paid in the first month = repayment amount in the first month (depending on repayment method)-521.5;
Residual principal in the first month = 100000- (repayment amount in the first month-521.5;
Second month loan interest = {10000- (first month repayment amount -52 1.5)}*0.5 125%.
Then calculate the monthly loan interest by analogy until the repayment is completed (the loan expires).
With the central bank's statement that it will not significantly adjust monetary policy in the fourth quarter, it can almost be concluded that the possibility of raising interest rates or cutting interest rates in the fourth quarter is almost zero. Then there is the current expected annualized interest rate of deposits and loans, that is, the expected annualized interest rate of loans for 20 14 years. However, due to different banks, the expected annualized interest rates of deposits and loans may be different. Today, we summarized the statistics of the expected annualized interest rate of bank loans. See which loan has a low expected annualized interest rate.
Updated on 20 14 65438+ 10.
20 14 10 table of expected annualized interest rates of major bank loans in China
Expected annualized interest rate of bank mortgage (first set of first-hand houses) Consumption/short-term loan Expected annualized interest rate Expected annualized interest rate of corporate loan
Three years (inclusive), five years (inclusive), one and a half years (inclusive), three years (inclusive) and five years (inclusive)
Central Bank, Industrial and Commercial Bank of China, Rise.
The Rise of Agricultural Bank of China
The construction bank is about to start.
Bank of China, get up.
Get up at the Bank of Communications.
China Merchants Bank started from scratch.
CITIC Bank started from scratch.
Everbright Bank has gone up and down.
Shanghai Pudong Development Bank will start from now on.
Ping An Bank started from scratch.
Start with Guangfa Bank.
Huaxia Bank started from scratch.
Minsheng Bank started from scratch.
Industrial Bank started from scratch.
Ningxia Bank started from scratch.
The rise and fall of Nanyang Commercial Bank.
The above data are collected from a branch of a bank and do not represent the expected annualized interest rate of loans of all banks in China. Therefore, if customers have needs, they can go to their own loan banks for consultation. Although the lower limit of the expected annualized interest rate of market-oriented loans has been liberalized, the impact on commercial banks is limited, basically the same as before.