Benchmark interest rate fluctuation 10% ~ 20% refers to the floating adjustment based on the amount of the basic interest rate announced by the People's Bank of China at the time of loan, that is, if the basic interest rate announced by the People's Bank of China is 4%, loan prime rate will be 4.4% after floating 10%.
According to Article 36 of People's Republic of China (PRC) Commercial Bank Law, the borrower shall provide a guarantee for the loan of a commercial bank. Commercial banks should strictly examine the repayment ability of guarantors, the ownership and value of collateral, and the feasibility of realizing collateral. After examination and evaluation by a commercial bank, it is confirmed that the borrower has a good credit standing and can repay the loan, and no guarantee may be provided.
Article 37 A commercial bank shall sign a written contract with the borrower when issuing loans. The contract shall stipulate the type, purpose, amount, interest rate, repayment period, repayment method, liability for breach of contract and other matters that both parties think need to be agreed.
Article 38 A commercial bank shall determine the loan interest rate according to the upper and lower limits of the loan interest rate stipulated by the People's Bank of China.
Extended data:
Article 74 of the Law of People's Republic of China (PRC) Commercial Bank, if a commercial bank is under any of the following circumstances, it shall be ordered by the the State Council Banking Regulatory Authority to make corrections. If there are illegal gains, the illegal gains shall be confiscated. If the illegal income is more than 500,000 yuan, a fine of more than one time and less than five times shall be imposed. If there is no illegal income or the illegal income is less than 500,000 yuan, a fine of not less than 500,000 yuan but not more than 2 million yuan shall be imposed; If the circumstances are particularly serious or are not corrected within the time limit, it may be ordered to suspend business for rectification or revoke its business license; If the case constitutes a crime, criminal responsibility shall be investigated according to law:
(a) the establishment of branches without approval;
(two) without the approval of the division, merger or change without authorization in violation of regulations;
(3) Raising or lowering interest rates in violation of regulations and using other improper means to absorb deposits and issue loans;
(4) Renting or lending a business license;
(5) buying or selling foreign exchange without approval or acting as an agent;
(6) buying and selling government bonds or issuing and buying and selling financial bonds without approval;
(seven) in violation of state regulations, engaging in trust investment and securities business, investing in non-self-use real estate or investing in non-bank financial institutions and enterprises;
(8) The conditions for granting credit loans or secured loans to related parties are better than similar loans of other borrowers.