Interest = loan principal × loan interest rate × loan term.
The specific loan interest rate of China Postal Bank will fluctuate on the basis of the current national benchmark loan interest rate. The following are the current benchmark lending rates:
Commercial loans:
The annual interest rate within 1 year (including 1 year) is 4.35%;
1~5 years (including 5 years) with an annual interest rate of 4.75%;
The annual interest rate of more than 5 years is 4.90%.
Provident fund loan:
The annual interest rate for the period of less than 5 years (including 5 years) is 2.75%;
The annual interest rate of more than 5 years is 3.25%.
About the loan term: credit loans handled by banks: the longest loan term is 5 years, usually 3 years; Mortgage loan: the longest loan term is 30 years, and the longest loan term after interest is 10 year.
Borrower's age: 18 -60. Individual banks can apply for mortgages, even at the age of 65.
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; Financial institutions handle mortgage loans and lend money within 7 days, with a monthly interest rate of about 1 minute.
Funds other than deposit and loan principal (different from "principal").
Abstract interest point refers to the value-added amount brought by monetary funds injected into the real economy and returned. In a less abstract sense, interest usually refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for using the borrowed currency or capital. Also known as the symmetry of sub-fund and parent fund (principal).
The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time).
Interest is the reward for the fund owner to lend the fund, which comes from a part of the profits formed by the producer to use the fund to play its operational functions. It refers to the value added when monetary funds are injected and returned to the real economy. The calculation formula is: interest = principal × interest rate × deposit term × 100%.
Classification of bank interest
According to the different nature of banking business, it can be divided into bank interest receivable and bank interest payable.
Interest receivable refers to the remuneration that the bank obtains from the borrower by lending to the borrower; It is the price that the borrower must pay for using the funds; This is also part of the bank's profits.
Interest payable refers to the remuneration paid to depositors by banks to absorb their deposits; This is the price that banks must pay to absorb deposits, and it is also part of the bank's cost.
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 capital, and at the same time compare the costs of various financing methods in the process of financing. If the enterprises in the whole society regard saving interest expenses as a common behavior mode, then the efficiency of economic growth will definitely improve.