The interest rate of bank loans in August 2020 is as follows: for short-term loans within one year (including one year), the interest rate is 4.35%; Medium and long-term loans from one year to five years (including five years), with an interest rate of 4.75%; For loans over five years, the interest rate is 4.90%. For personal housing provident fund loans, the interest rate is 2.75% for less than five years and 3.25% for more than five years.

The loan interest rate is the interest rate charged by banks and other financial institutions to borrowers when they issue loans. It is mainly divided into three categories: the loan interest rate of the central bank to commercial banks; The loan interest rate of commercial banks to customers; Interbank Offered Rate The interest rate in China is managed by the People's Bank of China. The bank loan interest rate refers to the benchmark interest rate set by the People's Bank of China, and the actual contract interest rate can fluctuate within a certain range on the basis of the benchmark interest rate. The loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower limits of interest rates stipulated by the Bank of China. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease. The loan interest rate is the main basis for the parties to the loan contract to calculate the loan interest, and the loan interest rate clause is the main clause of the loan contract.