Banks stipulate that the longest term of comprehensive consumer loans is 5 years, and the longest term of housing mortgage loans is 30 years. The interest rate is stipulated as: semi-annual interest rate; One-year interest rate; Two-year and three-year interest rates; Four-year and five-year interest rates; Interest rate for more than six years (inclusive). In other words, the interest rate for more than six years is the same interest rate. There are also provisions on the implementation of interest rates; If the interest rate within one year (inclusive) of the loan period is adjusted by the national interest rate, the contract interest rate will remain unchanged, and the loan interest rate over two years (inclusive) will be fixed for one year, that is, if the loan period is adjusted by the national interest rate, the new interest rate will be implemented in June of the following year at 65438+ 10/.

You have a loan of 1.5 million yuan. No matter whether you choose 1.5 years or 20 years, the interest rate is the same, but your monthly repayment amount is different. If you choose average capital repayment method, 15 is 180 months (180), your monthly principal repayment is150000 ÷180 = 833.33 yuan, if you choose 20 years.

Therefore, it is the most practical to determine the loan term according to one's family income. That is, the repayment pressure is high, so you choose a longer term, whereas you choose a shorter term.