Legal analysis: The benchmark loan interest rate (annual interest rate) stipulated by the People's Bank of China has a certain relationship with the loan time. Within one year, one to five years (including five years) 4.75. However, when handling bank loans, banks will give certain fluctuations, and become high-quality customers of banks can get preferential loan interest rates.
Legal basis: Article 674th of the Civil Code of People's Republic of China (PRC). If the time limit for the borrower to pay interest is not stipulated or clearly stipulated, it may be determined in accordance with the provisions of Article 500 of this Law, and the loan period is less than one year. If the loan term exceeds one year, it shall be repaid; if the remaining term is less than one year, it shall be repaid together with the loan.
2. What is the current bank loan interest rate?
The loan interest rates of different banks may be different or the same. Please consult the bank for details. The loan interest rates of ICBC, Agricultural Bank, China Construction Bank and China Bank are consistent with those of the central bank. Take the central bank as an example: short-term loans: 6 months (inclusive), loan interest rate of 4.35 months to 1 year (inclusive), loan interest rate of 4.35; Medium and long-term loans: 1 year to 3 years (inclusive), loan interest rate of 4.75 to 5 years, loan interest rate of 4.75 years or more, and loan interest rate of 4.9; Personal housing provident fund loan: within 5 years, the loan interest rate is more than 2.75 years. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by installments. If short-term loans are settled quarterly, the 20th of the last month of each quarter is the settlement date, and the 20th of each month is the settlement date. The specific interest settlement method shall be determined by the borrower and the lender through consultation. Interest that cannot be paid on schedule during the loan period shall be compounded quarterly or monthly according to the loan contract interest rate, and after loans overdue, at the default interest rate. When the last loan is paid off, the profit will be paid off with the principal. Twenty-first medium and long-term loans (with a term of more than one year) have a fixed interest rate of one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) bears interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract, and one year later, the interest rate of the next year is determined according to the legal loan interest rate of the corresponding grade at that time (the first loan is paid by installments). Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate. Article 28 The People's Bank of China shall bear interest on the refinancing of financial institutions according to the contract interest rate, and shall not bear interest in installments when the interest rate is adjusted. Interest is settled once every quarter, and the 20th of the last month of each quarter is the interest settlement date. Interest that cannot be paid on schedule during the loan period is compounded at the contract interest rate. If the refinancing term is extended, the loan term will not be calculated cumulatively, and the interest will be calculated according to the refinancing rate of the corresponding grade on the extension date. In loans overdue, the default interest will be charged according to the default interest rate on the overdue day until the principal and interest are paid off. If the default interest rate is adjusted, the interest will be calculated by stages. Interest that cannot be paid on schedule within the overdue period shall be compounded quarterly at the penalty interest rate.
3. What is the monthly interest rate of bank loan (unsecured)?
Hello, there are several products in bank loans. Different products have different corresponding benefits. At present, the mortgage interest is relatively favorable, with a monthly interest rate as low as 0.66% and an annual interest rate of 7.86. The interest rate of the product and the two mortgage products is slightly higher and the loanable period is relatively short. I hope I can help you!