ICBC's renovation loan interest rate is implemented according to the benchmark interest rate of the central bank, which usually fluctuates up and down, but the range is small.
Interest rate: (Chinese name: interest rate, set by the central bank, also called interest rate, mbth: interest rate) Interest rate refers to the ratio of the amount of interest to the amount of loan funds (principal) in a certain period of time. Interest rate refers to the ratio of the interest amount due in each period to the par value of the borrowed, deposited or borrowed amount (called the total principal). The total interest of the lent or borrowed amount depends on the total principal, interest rate, compound interest frequency and the length of time of lending, deposit or borrowing. Interest rate is a kind of cost that borrowers need to pay for borrowed funds, and it is also the return that lenders get by delaying their own consumption and lending to borrowers. The interest rate is usually calculated as a percentage of one-year interest and principal. Bank interest rate, also known as interest rate, indicates the ratio of interest to principal in a certain period. In most cases, it is expressed as a percentage. Formula: interest rate = interest/principal * 100%. Monthly interest rate: interest calculated on a monthly basis. Annual interest rate: the interest calculated on an annual basis. Annual interest rate and its calculation formula: monthly interest rate = annual interest rate/12, annual interest rate = monthly interest rate * 1. For example, the annual interest rate is 7.05%, which translates into a monthly interest rate of 7.05%/ 12=5.875%. Failure to repay the bank in time will lead to overdue repayment, bad credit and illegal account: in the national credit information system, bad credit will leave relevant records. Customers need to bear a high penalty interest. It is easy to cause legal disputes. Therefore, when the loan to the bank cannot be repaid in time, it must be made up in time and part of the penalty interest paid. Otherwise, bad credit records cannot be cleared. If blacklisted, it will have a serious impact. The blacklist of banks has a bad influence on many things, such as buying a house loan, buying a ticket and running a business.