In 2022, the loan interest rates of Suzhou Provident Fund in June and February were 2.6% and 3. 1% respectively. The People's Bank of China has decided to reduce the interest rate of the first individual housing provident fund loan by 0. 15 percentage point from June 2022, and adjust the interest rates for less than five years (including five years) and more than five years to 2.6% and 3. 1% respectively.

What is the loan interest rate of Suzhou Bank 202 1?

The loan interest rates of banks and regions fluctuate on the benchmark interest rate announced by the central bank. Take the interest rates of the four major banks in Suzhou as an example, as follows:

The loan interest rate of China Bank in Suzhou area is 5.05%;

The loan interest rate of Suzhou Industrial and Commercial Bank is 5.10%;

The loan interest rate of Suzhou CCB is 5.05%;

The loan interest rate of Suzhou Agricultural Bank is 5.10%;

The loan interest rate refers to the ratio of interest amount to principal amount during the loan period. China's interest rate is managed by the People's Bank of China, and the determined interest rate is implemented after being approved by the State Council. The loan interest rate directly determines the profit distribution ratio between the borrowing enterprise and the bank, thus affecting the economic interests of both borrowers and lenders. The loan interest rate varies with the types and duration of loans, and it is also related to the scarcity of borrowed funds.

The People's Bank of China announced that, with the approval of the State Council, the lower limit of 0.7 times of the loan interest rate of financial institutions will be cancelled from July 20th, 20 13, and financial institutions will independently determine the loan interest rate level according to commercial principles.

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

1. daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.

2. Monthly interest rate (‰) = annual interest rate (%)÷ 12

(two) banks can use the product interest method and the transaction interest method to calculate interest.

1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:

Interest = cumulative interest-bearing product × daily 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 × 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 )× year (month) interest rate

If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:

② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.

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 interest rate

These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year. However, when calculating the actual daily interest rate, it will be calculated according to 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.

Agricultural Bank of Suzhou Small Business Loan Interest Rate

5. 1%-5.5%. According to the inquiry of official website of Suzhou Agricultural Bank, large banks in Suzhou apply for loans for small and micro enterprises, and the loan interest rate is around 5. 1%-5.5%. The interest rate for applying for small and micro enterprise loans in Suzhou local corporate banks is around 6.5%-7%.