Of course, you have to pay interest when you borrow money from a bank. The interest is calculated according to the interest rate you signed with the bank at that time. But the interest rates of different banks are different. But it's similar.

the latest benchmark interest rate for bank loans: the annual loan rate for -6 months (including June) is 4.35%, that for June -1 year (including one year) is 4.35%, that for 1 -3 years (including three years) is 4.75%, that for 3 -5 years (including five years) is 4.75%, and that for 5-35 years. On this basis, there will be appropriate downward floating or upward floating.

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1. Conversion of loan interest rate

The loan interest rate is based on the benchmark loan interest rate given by the People's Bank of China and fluctuates up and down on the basis of the benchmark interest rate. The bank interest rate is the executive interest rate, and the executive interest rate varies from bank to bank for different loan types and loan periods. Executive interest rate = benchmark interest rate ×(1+ interest rate floating value). The floating range is between .5 and 2 percentage points.

ii. requirements for personal loans

when applying for personal loans, the bank will review your personal qualifications and the authenticity of all information. Specific conditions: the borrower's identity card, which is necessary. Good credit record. Personal qualification and financial proof, for example, this person has a full-scale vehicle under his name, so he can make a vehicle mortgage loan from the bank or a credit loan; If the borrower has a full house property under his name, he can apply for a mortgage loan; In addition, there are many types of loans. Borrowing purposes, because the CIRC stipulates that all loan funds cannot be used for stock trading, wealth management, house purchase, etc., so banks must have formal borrowing purposes before they can lend you money. It is also the most important point, that is, good repayment willingness and repayment ability. From the bank loan, all the directions of the bank's investigation will eventually point to the customer's repayment ability and repayment willingness. If the customer has no repayment willingness or repayment ability, the bank will not lend you the money.

Now this social loan is a common thing for people, whether it is buying a house, buying a car, doing business or personal consumption loans. In short, loans are common in people's lives. What conditions and procedures are needed for personal loans, which has a great relationship with your personal situation.