The loan interest rate of 4.9% is the benchmark interest rate for commercial loans stipulated by the People's Bank of China, that is, the annual loan interest 100 yuan, that is, 4.9 yuan. Generally speaking, banks will adjust the benchmark interest rate according to the central bank. For example, a 10% discount on the usual interest rate of mortgage is to reduce the interest rate to 4.9%*0.9=4.4 1%.

What is the benchmark loan interest rate of 4.9%?

At present, the personal commercial loan for more than five years announced by the People's Bank of China is 4.9%. For example, ordinary mortgages are basically calculated according to this benchmark interest rate. Then the bank will float up and down according to its own needs, such as up 20% and down 10%. For users with personal housing loans, they will be more concerned about the impact of this interest rate on mortgage interest. Obviously, the lower the interest rate, the lower the interest to be repaid. Individuals can actually calculate the monthly repayment amount according to the actual interest rate, but this algorithm is more complicated and will adopt different repayment methods. Generally speaking, when signing a housing loan contract, the bank will clearly list the monthly repayment amount.