1, apply for provident fund loan to buy a house, and the interest rate will remain unchanged year by year. During the repayment period, when the People's Bank of China adjusts the benchmark loan interest rate, the new interest rate will be implemented from 65438+ 10/month 1 the following year; If the People's Bank of China does not adjust the benchmark loan interest rate during the repayment period, the mortgage interest rate handled by customers will naturally not change.
If you apply for a commercial loan to buy a house, the interest rate may change year by year. Because commercial loans have a repricing cycle (the shortest one year), the interest rate is formed by adding points to the LPR of the corresponding period (LPR will re-quote every month). On each repricing date, the new interest rate will be calculated according to the latest LPR quotation and the specified basis point, and then it will be implemented in the next cycle (there are two options on the repricing date: 1 1 and the loan issuance date).
It should be noted that if the mortgage loan is made before 20 19 1 0.8, and the fixed interest rate is selected during the interest rate conversion from March1day to August 3 1 day in 2020, the mortgage interest rate will remain unchanged no matter how the LPR is adjusted and changed afterwards.
If the interest rate is lowered, will the provident fund interest rate be lowered?
If the interest rate is cut, the interest rate of the provident fund will not be lowered. The reduction of LPR interest rate is not directly related to the reduction of provident fund interest rate.
Provident fund loan is a national policy loan, and its loan interest rate is determined by the People's Bank of China. The annual interest rate of 1-5-year loans is 2.75%, and the annual interest rate of loans over 5 years is 3.25%, which is unified throughout the country and will not change due to the update of the market quotation, that is, the LPR interest rate.
Is the loan term longer or shorter?
Of course, there are long and short. That is, the loan with the longest term will be paid off in the shortest time. This is the cheapest way to borrow money. Some people think that the longer the loan term, the better, and the less pressure; Some people think that it is better to live a short life, and there is no burden for a long time. Comparatively speaking, the loan term is long and the total interest paid is more; And the loan period is short. The monthly repayment pressure is even greater. Both have their advantages and disadvantages. The loan term should be determined according to the repayment ability, loan interest rate, loan amount and other bank requirements, including the age of the lender and the age of the house purchased.