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Will the monthly repayment amount change after the conversion of LPR pricing benchmark for personal loans?
It will change.

The pricing benchmark of floating rate loans is converted into LPR. Except for commercial personal housing loans, the value-added amount shall be determined by both borrowers and borrowers through consultation. The value-added of commercial personal housing loans should be equal to the difference between the latest interest rate of the original contract and the corresponding term LPR issued in February 20 19.

From the conversion point to the first re-pricing date after that point (excluding), the execution interest rate level shall be equal to the latest execution interest rate level of the original contract, that is, the sum of LPR and value-added during the corresponding period of 20 19. Thereafter, from the first repricing date, the interest rate level is recalculated on each interest rate repricing date, and is determined by the corresponding period LPR and added value of the latest month.

Extended data:

The relevant requirements for personal loans stipulate that:

1. Financial institutions can renegotiate the repricing period and repricing date when negotiating pricing benchmark conversion terms with customers. The shortest repricing period of commercial individual housing loans is one year.

2. If the stock floating interest rate loan is converted into a fixed interest rate, the converted interest rate level shall be determined by the borrower and the borrower through consultation, and the converted interest rate level of commercial personal housing loan shall be equal to the latest interest rate level of the original contract.

Announcement No.30 of the Central People's Government-China People's Bank [20 19]