The loan interest rate is 5.5%, which generally refers to the annual loan interest rate of 5.5%. The calculation formula of loan interest is: loan principal * annual interest rate * loan term. Take 1 10,000 yuan as an example, with an annual interest rate of 5.5, which requires annual interest of 550 yuan and monthly interest of about 46 yuan. The interest on this loan is relatively small, and it is difficult for online loans to have such low interest. Bank loans are ok, but the borrower's credit quality is required.
China is in the transition period from planned economy to market economy. Generally speaking, the demand for funds in all aspects is greater than the supply and demand of funds. In order to stabilize the national financial order and prevent the arbitrary increase of loan interest rate, it is necessary for the state to stipulate the loan interest rate of financial institutions, ensure that borrowers borrow within the interest rate limit stipulated by the state, reduce the production cost of borrowers, and promote the healthy and orderly development of the national economy. The national interest rate policy is the main part of the central bank's monetary policy, and its formulation and adjustment have great influence on the national economy. The central bank also manages the loan interest rate of financial institutions to achieve the purpose of adjusting the national financial order.
According to the development of market economy and the relationship between capital supply and demand, the People's Bank of China generally stipulates the loan interest rate of financial institutions in a certain period. According to the relevant regulations of the People's Bank of China, the interest rate set by the People's Bank of China approved by the State Council and authorized by the State Council is the legal interest rate, and no other unit or individual has the right to change it. The announcement and implementation of the statutory interest rate shall be the responsibility of the head office of the People's Bank of China. Within the floating range specified by the head office of the People's Bank of China, the interest rate determined by financial institutions on the basis of the statutory interest rate is the floating interest rate. After the floating interest rate is determined, financial institutions shall report to the People's Bank of China for the record. Financial institutions can charge interest on overdue loans and misappropriated loans on the basis of the original interest rate. The scope, range and conditions of interest accrual shall be determined by the head office of the People's Bank of China.