The difference between lpr interest rate and benchmark interest rate: The benchmark interest rate for loans is adjusted and announced by the People's Bank of China from time to time. LPR is the interest rate quoted by the quoting bank according to the loan interest rate executed by the bank's best customers, and calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. Compared with the benchmark loan interest rate, LPR is more market-oriented and can better reflect the changes of market supply and demand. For example, in the past, banks issued loans to customers, and the interest rate was determined in the form of "XX times floating" and "XX discount" according to the benchmark loan interest rate announced by the central bank. On August 7, 20 19, the People's Bank of China issued an announcement to reform and improve the formation mechanism of LPR, and made it clear that banks should mainly refer to LPR to determine the loan interest rate. That is to say, when issuing new loans, banks will determine the interest rate with reference to LPR in the form of "LPR+xx basis points", "LPR-xx basis points" (one of which is 0.01%), or "LPR+xx%" or "LPR-xx%".
What is the difference between the benchmark interest rates of China People's Bank and LPR?
Difference between benchmark interest rate of China People's Bank and LPR benchmark interest rate;
The benchmark loan interest rate is adjusted and announced by the People's Bank of China from time to time. LPR is the interest rate quoted by the quoting bank according to the loan interest rate executed by the bank's best customers, and calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. Compared with the benchmark loan interest rate, LPR is more market-oriented and can better reflect the changes of market supply and demand.
Extended data:
1, legal benchmark interest rate
Both interest rate reduction and interest rate increase are based on the benchmark interest rate, which is the statutory benchmark interest rate and also divided into the benchmark deposit interest rate and the benchmark loan interest rate.
At present, we adopt the latest central bank benchmark interest rate from 2065438+2005 to 65438+1October 24th:
Within 1 year (inclusive), the annual interest rate is 4.35%.
1 to 5 years (including 5 years), with an annual interest rate of 4.75%.
For more than 5 years, the annual interest rate is 4.90%.
Provident Fund:
Within 5 years (including 5 years), 2.75%
More than 5 years, 3.25%
The benchmark interest rate for deposits and loans is set by the central bank. The guiding interest rate of commercial bank loans is not the actual loan interest rate, but the actual loan interest rate will be higher than the legal benchmark interest rate.
2.LPR interest rate
The calculation method of LPR is generated by the same quotation of 18 bank. The calculation method is to remove a highest price and a lowest price, and finally take the arithmetic average and re-quote on the 20th of each month. It can be simply explained as interest rate marketization.
Therefore, this LPR interest rate depends on the process of supply and demand balance in a market, which does not mean that the interest rate will definitely fall. On the contrary, market-oriented pricing may reduce or increase this interest rate.
20 19 10 2 1 loan market quotation (LPR) is: 1 year, the LPR is 4.20%, and the LPR is 4.85% for five years or more.
Calculation of loan interest rate of China People's Bank;
According to the repayment formula of general mortgage loans, it can be divided into two types:
1, calculation formula of equal principal and interest:
Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.
It should be pointed out that:
(1) The amount of provident fund loans in various cities is high, which should be combined with local conditions;
(two) for residents who have borrowed money to buy a house but whose per capita area is lower than the local average, and then apply for a second set of ordinary self-occupied housing, the preferential policy of purchasing ordinary self-occupied housing with the first loan shall be implemented mutatis mutandis.
2, the average capital calculation formula:
Monthly repayment amount = monthly principal+monthly principal and interest
Monthly principal = principal/repayment months
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
Loan interest rate LPR interest calculation:
The calculation method of mortgage interest rate in the future is to subtract the difference between the original loan interest rate and the new LPR interest rate at the time of handling. For example, your original loan interest rate is 4.9%, and now the LPR is 4.6%. The new contract interest rate = LPR+0.3%, which will never change after 0.3%. Only LPR is variable.
Loan market quotation (LPR) shall be submitted by each quotation bank to the National Interbank Funding Center on the 20th of each month (postponed in case of holidays) in steps of 0.05 percentage point, and the National Interbank Funding Center will calculate the average after excluding the highest quotation and the lowest quotation.
Is the LPR interest rate the same as the central bank benchmark interest rate?
The difference between the LPR interest rate and the benchmark interest rate of the central bank is as follows:
1, LPR interest rate: generated according to the same quotation of 18 bank. The calculation method is to remove a highest price and a lowest price, and then take the average and change on the 20th of each month. It can be simply understood that LPR interest rate is a market-oriented interest rate. Therefore, the interest rate of LPR depends on the equilibrium process of market supply and demand, which does not mean that the interest rate will definitely fall. On the contrary, market-oriented pricing may lead to the decrease or increase of this interest rate. 20 1 9 65438+LPR interest rate on February 20th:1year LPR 4. 15%, and LPR 4.80% for more than five years.
2. The benchmark interest rate of the central bank: it is the loan guidance interest rate designated by the central bank, and the interest rate is fixed in a certain period of time. Loan term 1 year (inclusive) is 4.35%, 1-5 years (inclusive) is 4.75%, and 5 years or more is 4.9%. This pricing conversion will be implemented from March 2020 1, and all conversions will be completed before August 3, 20201. Old mortgage users have only one choice, and they can't change it after the choice. If you don't go to the bank to sign a new house purchase contract, it will be regarded as giving up the choice of fixed rate by default.
What do LPR and fixed benchmark interest rate mean?
LPR and the central bank benchmark interest rate have always been determined by the central bank benchmark interest rate.
The fixed interest rate is based on the benchmark loan interest rate set by the central bank on a regular basis. Before, our personal mortgage contracts were all fixed interest rate models. This model is that commercial banks refer to the benchmark interest rate level of loans regularly announced by the central bank, and at the same time float a certain discount according to their own loan policies and determine it in the purchase contract. In each future pricing cycle, the discount floating ratio will remain unchanged, and only the benchmark interest rate of central bank loans will be changed.
Calculation method: benchmark loan interest rate * bank discount = personal loan interest rate.
2065438+August 2009, LPR interest rate was introduced.
In August 2009, the central bank introduced the LPR interest rate, that is, the preferential interest rate for loans. Also known as the loan market quotation, it is the quotation after adding the operating interest rate in the open market. It means that the bank can add or subtract points on the basis of the preferential loan interest rate according to the borrower's credit situation, taking into account factors such as mortgage, term, interest rate floating mode and type. It is the loan interest rate executed by commercial banks for their best customers, and other loan interest rates can be generated by adding and subtracting points on this basis.
Calculation method: LPR interest rate +xx basis points (where 1 basis point =0.0 1%)= personal loan interest rate.
The central bank stipulates that the existing commercial personal housing loan interest rate will remain unchanged at the time of conversion. If the old loan contract is converted into fixed interest rate instead of LPR pricing, the converted interest rate level shall be determined by the borrower and the borrower through consultation, and the converted interest rate level shall be equal to the latest interest rate level of the original contract.
Therefore, you can choose to fully implement it in April. At that time, you should be contacted by a banker. If not, you can ask at the bank.