On bank interest rates

    also known as interest rates interest rate refers to rate of interest and principal payments within a certain period, usually expressed as a percentage, called the interest rate calculated by year. In the modern economy, interest rate as the price of capital, restricted not only by economic and social factors, and changes in interest rates have a significant impact on the economy as a whole, therefore, modern economists to study decision problems, special attention of a variety of variable relationships and the balance of the economy as a whole.

    1. What is the legal interest rate?

    statutory rate is approved by the State Council and authorized by the State Council of the people's Bank of China all kinds of interest rates. Statutory interest rate disclosure, implemented by the people's Bank of China, head office is responsible for.

    2. What is a benchmark?

    benchmark is the people's Bank of China on commercial banks and other financial institutions, loan and deposit rates. Benchmark interest rates with the PBoC to determine.

    3. What is the contract interest rate?

    contractual interest rate loans according to official lending rates and the provisions of the rules of the floating range of complicity, by mutually agreed with the borrower, and stated in the loan contract of a specific loan interest rates.

    4. how to determine loan interest rates?

    the provisions of the General principles of loan lending rates to determine:

    loan interest rate of the loan provisions shall, in accordance with the rules of the upper and lower limits, each loan interest rate was determined and stated in the loan contract.

    5. loan interest charge?

    the provisions of the General principles of loan interest collected on loans: lenders and borrowers should be in accordance with the contract provisions relating to interest and the people's Bank of China, interest on regular collection or delivery. The extension of the term of the loan with the original deadline when the new interest rate level is reached, from the date of extension, grade interest rates charged by the new deadline. Overdue loans charge penalty interest as required.

    loan interest: in accordance with national policies, in order to promote economic development in some industries and regions, the relevant departments can loan interest subsidies. Discount loans for the sector concerned, the contractor issued Bank should independently review, and in accordance with the relevant provisions of the General principles of loan management.

    susn, reduction of loans and interest-free: in addition to provisions of the State Council, all units and individuals have no right to decide to stop, cuts in interest rates, and interest-free. Lender shall, in accordance with decisions of the State Council, in accordance with rights and responsibilities specific stops, cuts in interest rates and interest-free.


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