Four times the bank loan interest rate in the same period generally refers to four times the benchmark loan interest rate announced by the People's Bank of China. For example, the current benchmark interest rate for one-year loans is 6%, so four times is 24%, which is four times higher than the benchmark interest rate of banks in the same period, that is, it is not protected by law.
Definition of annual interest rate:
The annual interest rate refers to the deposit interest rate for one year. The so-called interest rate is the abbreviation of "interest rate", which refers to the ratio of interest amount to deposit principal or loan principal in a certain period of time. Usually divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage of the principal, the monthly interest rate as a percentage, and the daily interest rate as a percentage.
When the economic development is in the growth stage, the investment opportunities of banks increase, the demand in loanable funds increases and the interest rate rises; On the other hand, when the economy is in a downturn and the society is in a depression, banks' willingness to invest will decrease, so will the demand for loanable funds, and the market interest rate will generally be lower.
Definition of bank loan:
Bank loan refers to an economic behavior that banks lend funds to people in need of funds at a certain interest rate according to national policies and return them within the agreed time limit. Generally, you need a guarantee, a house mortgage, proof of income and good personal credit information before you can apply.
Definition of equal principal and interest:
Matching principal and interest refers to a loan repayment method, that is, repaying the same amount of loans (including principal and interest) every month during the repayment period.
Equal principal and interest and average capital are not the same concept. Although the monthly repayment amount may be lower than that in average capital at the beginning, the interest paid in the end will be higher than that in average capital, which is also a method often used by banks.
Definition of average capital:
Average capital refers to a repayment method of loans. During the repayment period, the total amount of loans is divided into equal parts, and the same amount of principal and interest generated by the remaining loans of the month are repaid every month. In this way, because the monthly repayment amount is fixed and the interest is less and less, the borrower is under great pressure to repay at first, but as time goes on, the monthly repayment amount is less and less.
How much is it not more than four times the bank interest rate?
If the loan is less than 6 months (including 6 months), the annual interest rate of the bank loan is 5.60%; Four times is 22.4%; Month-1 year (including 1 year), the annual interest rate of bank loans is 6%, four times that of 24%; From 2000 to 2003, the annual interest rate of bank loans was 6. 15%, four times that of 24.6%. The interest rate of private lending is more than four times that of bank loans in the same period and is not protected by law. Tip: The IOU should be signed with the pen prepared by the borrower in case the borrower borrows money. It is invalid to bring your own faded pen signature.
How much is the bank loan interest rate four times?
Hello, it depends on whether it refers to the bank deposit interest rate or the time deposit rate. Bank demand deposits and time deposits with different maturities have different interest rates. If it is four times the bank interest rate, then multiply the bank interest rate by four, which is the interest rate you agreed on. For example, if the bank's interest rate is 3%, then the quadruple interest rate is 12%.
On the loan interest rates of the six major banks:
1, Industrial and Commercial Bank of China
ICBC, the interest rate of short-term loans (within six months, including six months) is 4.35%; The loan interest rate for half a year to one year (including one year) is 4.35%. The loan interest rate for one year to three years (including three years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
If it is a provident fund loan, the loan interest rate for less than five years (including five years) is 2.75%; The loan interest rate for more than five years is 3.25%.
2. Agricultural Bank of China
The short-term loan interest rate of ABC (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%. For individual housing provident fund loans, the loan interest rate for five years and below is 2.75%, and the loan interest rate for five years and above is 3.25%.
3. China People's Bank
The loan interest rate of China Mingren Bank is 4.35% within one year (including one year), 4.75% for one to five years (including five years) and 4.9% for loans over five years. For individual housing provident fund loans, the loan interest rate for five years and below is 2.75%, and the loan interest rate for five years and above is 3.25%.
4. Bank of Communications
The loan interest rate of Bank of Communications is 4.35% within one year (including one year), 4.75% for one to five years (including five years) and 4.9% for loans over five years.
5. The short-term loan interest rate of China Construction Bank (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%. 6. Postal Savings Bank, the loan interest rate (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
On the premise of safety, our deposits are generally based on income, and secondly, we need some liquidity to ensure emergency use. If you can deposit and withdraw money at any time, the liquidity is very high, but the interest rate of 0.3-0.35% is really too low, not to mention financial management at all, just playing the role of being kept by banks. The deposit term can still be withdrawn at any time according to relevant regulations, which has no impact on liquidity. On the contrary, if the midway is not a special reason, it can generally be held due. Or withdraw the part in advance, and the rest can still enjoy the regular interest rate until it expires. Comparing the two, firstly, there is no difference in liquidity, and secondly, the possibility of getting more interest is much greater, so time deposits are of course more cost-effective.
As for six months, one year or three years? It mainly depends on your idle period of funds or investment planning. If the investment plan is vague, of course, it is more realistic to have a shorter term. Because the investment plan is not clear, it will inevitably lead to the possibility of early withdrawal. Once an early withdrawal occurs, interest will be calculated according to the current interest rate, which will lead to more interest losses and feel that it is not worth the candle. However, if the investment plan is very clear and the idle period of funds can be basically determined, it must be three years, because the 1 year interest rate is definitely lower than the three-year interest rate. In general, even the total interest of 1 for three consecutive years is not as much as that for three consecutive years. This is based on theory. If you don't believe it, you can calculate it yourself.
：
By 202 1 year, taking China Development Bank as an example:
I. Short-term loans
1, six months (inclusive), with annual interest rate of 4.35%.
2. For half a year to one year (inclusive), the annual interest rate is 4.35%.
Second, medium and long-term loans
1, one to five years (inclusive), with an annual interest rate of 4.75%.
2. For three to five years (inclusive), the annual interest rate is 4.90%.
Loan preferential interest rate: other loan interest rates can be generated by adding or subtracting points on this basis. The centralized quotation release mechanism of preferential loan interest rate is that on the basis of the quotation bank's independent quotation of preferential loan interest rate, the publisher is designated to calculate the quotation by weighted average, and the average quotation rate of the quotation bank in the preferential loan interest rate is formed and announced to the public. At the initial stage of operation, the preferential loan interest rate of 1 year was announced to the public.
What is the four times of the bank loan interest rate stipulated in the contract law during the same period?
1. According to Article 6 of Several Opinions on People's Trial of Lending Cases, the interest rate of private lending can be appropriately higher than that of banks, and people in various places can grasp it according to the actual situation in the region, but the maximum shall not exceed four times (including interest rate) of similar loans from banks. Beyond this limit, the excess interest will not be protected.
2. This provision has been replaced by the Supreme People's Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, and the annual interest rate has been changed to no more than 24%.
3. Legal basis: Article 28 of the Provisions of the Supreme People's Government on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases. After the principal and interest of the previous loan are settled, both the borrower and the lender will include the interest in the principal of the latter loan and re-issue the creditor's rights certificate. If the previous interest rate does not exceed the annual interest rate of 24%, the amount specified in the reissued creditor's rights certificate can be confirmed as the later loan principal.
4. Excess interest cannot be included in the future loan principal. If the agreed interest rate exceeds the annual interest rate of 24%, and the parties claim that the excess interest cannot be included in the future loan principal, the people should support it.
5. According to the provisions of the preceding paragraph, the sum of the principal and interest payable by the borrower after the expiration of the loan term cannot exceed the sum of the initial loan principal and the interest of the whole loan term calculated at the annual interest rate of 24% based on the initial loan principal. If the lender asks the borrower to pay more, the people will not support it.
6. The interest rate of private lending can be appropriately higher than the bank interest rate, which can be specified by local people according to the actual situation in the region, but the maximum interest rate shall not exceed four times (including interest rate) of similar bank loans. Beyond this limit, the excess interest will not be protected.
Extended data
Article 7 of Several Opinions on People's Courts' Trial of Lending Cases stipulates that:
The lender shall not include interest in the principal to seek high profits. If it is found during the trial that the creditor included the interest in the principal to calculate compound interest, if the interest rate exceeds the limit stipulated in Article 6, the excess interest will not be protected.
Article 8 stipulates that if there is a dispute between the borrower and the lender on whether there is an agreed interest rate, and it cannot be proved, the interest can be calculated by referring to the interest rate of similar loans from banks. If there is a dispute between the borrower and the borrower over the agreed interest rate, which cannot be proved, the interest may be calculated with reference to Article 6 of this opinion.
Article 11 stipulates that the lender knows that the borrower is borrowing money to engage in illegal activities, and its lending relationship is not protected. The illegal lending behavior of both parties can be punished in accordance with the provisions of Paragraph 3 of Article 134 of the General Principles of Civil Law and Articles 163 and 164 of the Opinions on Several Issues Concerning the Implementation of the General Principles of Civil Law of People's Republic of China (PRC) (for Trial Implementation).
Article 12 stipulates that if the lender requests repayment in the same currency because of the loan between citizens or NT dollars, it may be allowed. If the borrower does not have the same currency, it can be repaid in RMB with reference to the local foreign exchange adjustment price at the time of repayment. If the lender requests to repay the interest, it may calculate the interest with reference to the savings rate of China Bank at the time of repayment.
Borrowing foreign exchange certificates shall be handled with reference to the above principles.
Article 13 stipulates that in the loan relationship, the person who only plays the role of contact and introduction shall not bear the guarantee responsibility. If there is a real intention to guarantee the performance of the debt, it shall be recognized as a guarantor and bear the guarantee responsibility.
Article 14 stipulates that if the lender issues an IOU in the name of the borrower to borrow money, and the borrower refuses to admit it, and the lender cannot prove it, the lender shall bear civil liability.
Article 15 stipulates that during the lending period of a partnership enterprise, if an individual borrows money in the name of a partnership organization and uses it for partnership operation, it shall be repaid by the partners; If the borrower cannot prove that the loan is used for partnership operation, it shall be repaid by the borrower.
Article 16 stipulates that after the guarantor's loan debt expires, if the debtor is solvent, the debtor shall bear the responsibility; If the debtor is unable to pay off, has insufficient solvency or the debtor's whereabouts are unknown, the guarantor shall be jointly and severally liable.