Information > General articles > Raiders Channel > Business loan >  text

Chongqing stipulates that the total loan cost of small loan companies must not exceed 4 times the benchmark interest rate

Time: 2013-02-05         Source: Rong 360 original         Author: bamboo

        The cost of loan for small and micro enterprises has always been a big problem.MicrofinanceThe total loan cost of the company may even exceed four times the central bank's benchmark interest rate. Recently, the Chongqing Municipal Association of Small Loan Companies issued the "Strict Implementation of Strengthening Self-regulation in the Industry."Lending ratesNotice of Management Regulations (hereinafter referred to as "Notice") requires that the sum of interest and fee increases of small loan companies should not exceed four times the benchmark interest rate.

According to the “Notice” requirement, at the time of year-end and year-end, there is a large gap between supply and demand for corporate funds.Private lendingThe interest rate showed a phased upward trend. In order to effectively reduce the financing costs of small, medium and micro enterprises, the City Small Loan Association requires that the city's small loan companies must strengthen industry self-discipline and strictly prohibit the violation of loan interest rate management regulations.

The "Notice" clearly stipulates that all small loan companies must strictly implement the municipal financial office's regulations governing loan interest rates. The sum of lending rates and related charges must not exceed 4 times the benchmark lending rate of the same period announced by the People's Bank of China, requiring transparency and interest rate transparency. The loan interest rate and fee standard are stated in the loan contract.

At the same time, Chongqing Small Loan Association will organize personnel to investigate the interest rate of loans. Once problems are discovered, they will report to the regulatory authorities in a timely manner and recommend that the regulatory authorities take stringent measures.

【Exclusive Manuscripts and Disclaimer】 All works marked as “Future 360 ​​Original” must be reproduced, excerpted or otherwise used by any entity, organization or individual without authorization in writing. Has been authorized in writing, indicating the source melts 360. Violations of the above statement inflicted violations of the legal rights and interests of 360 will be legally pursued. The materials and conclusions in the work are for reference only and do not constitute operational recommendations. For written authorization, please email: academy@rong360.com

Comment list (User comments are only for users to express personal views, does not mean that this site agrees with their views or confirms their description)
you may also like
  • The loan interest rate must not exceed 4 times the benchmark interest rate  To clarify the supervisory authority of small loan companies to further strengthen the supervision and management of small loan companies in the province and promote the healthy development of small loan loans, Gansu Provincial Finance Office and other four departments on the “Trial Measures for the Management of Small Loan Companies in Gansu Province” (Ganjin Office No. [2013] No. 422) into...
  • P2P new loan balance exceeds more than 30 times small loans  In October 2015, the Internet Finance Index of the Qianhai Index showed that the balance of P2P online loan loans at the end of October was 438 billion yuan, which was half of the balance of small loans. This year, the balance of newly added P2P online loan loans is more than 30 times larger than small loans, P2P. Net loans subvert the traditional private lending, subvert the small loan public ...
  • No more than 4 bank cards?  The same bank cannot have more than 4 debit cards. It does not restrict users from opening cards at different banks, nor does it restrict cardholders from processing multiple credit cards at a bank. Recently, the China Banking Regulatory Commission (CBRC) released "About the banking industry to crack down on dealing with new types of illegal criminal activities in telecommunication networks...
  • Dalian Provident Fund Credit Limit shall not exceed 15 times of the balance  Recently, Dalian City amended the “Detailed Rules for the Implementation of Dalian Personal Housing Provident Fund Loan Regulations” and added a new loan-paying linkage policy. The borrower’s loan amount cannot exceed 15 times the balance of the housing provident fund account balance. The new rules will be implemented from February 1, next year, when the loan will be...
  • No more than 4 bank cards? It's not like this  In March this year, the China Banking Regulatory Commission (CBRC) issued the "Notice on the Banking Industry to Combat the Matters Concerning the Handling of New Types of Violations of Telecommunications Networks and Related Crimes." It clearly stipulates strict restrictions on the number of card openings. The same commercial bank shall open a debit card for the same customer. In principle, it must not exceed 4 cards. . For 4 have been processed...