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What does lpr mean by one year?
One-year LPR means that the loan preferential interest rate is one year.

LPR is the best loan interest rate, and the bank calculates the loan interest rate according to the LPR benchmark interest rate plus a certain number of points. One-year LPR is usually used for short-term consumer loans and personal business loans, which reflects the current level of bank capital interest rate and market liquidity.