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How to reduce loan interest when going to a loan?
Who is the loan interest?
Since then, the People's Bank of China has set a basic interest rate for domestic loans. Since July 20, 2013, the People's Bank of China has decided to fully open the lending rate control of financial institutions - interest rate liberalization. Banks can adjust interest rates based on financial markets based on the interest rate set by the central bank.
What is interest rate marketization?
Interest rate marketization refers to the interest rate level of financial institutions operating in the money market, which is determined by market supply and demand. It includes the marketization of interest rate decisions, interest rate transmission, interest rate structure and interest rate management. In fact, it is to transfer the decision-making power of interest rate to the financial institution. The financial institution's own judgment based on the capital situation and the trend of the financial market comes from the main adjustment of the interest rate level, and finally forms the basis of the central bank's benchmark interest rate. Intermediary, the market interest rate system and interest rate formation mechanism that determine the deposit and loan interest rate of financial institutions by market supply and demand.
The interest rate is determined by the market!
2017 is a watershed in the financial industry. The most popular feeling for the public is the change in the interest rate on mortgage loans. Before 2017, in order to seize the mortgage, this bank is based on the loan interest rate: 30% off, 20% off, 15% off, 10% off... A few million mortgages can save a few 100,000 interest, the loan is quite as earned.
But now, mortgage interest rates are rising. As of August this year, mortgage interest rates have risen for 19 months, and even the highest interest rates have risen by 50%.
If you borrow 1 million, you will have to pay an extra 15% interest rate of 220,000.
In just one year, the mortgage interest rate has undergone earth-shaking changes, and the financial market is really changing rapidly.
People who wait and see can only choose to cry.
The interest rate is also your personal decision!
The higher the credit rating, the lower the interest
The quality of personal credit is the main factor of the marketing loan interest rate. The credit record includes the credit card usage and repayment records for the past 2 years, loan use and repayment records, and personal credit inquiry records. Too many credit overdue will affect the level of interest. If there is too much overdue, it will not be able to repay the loan. In addition, the applicant's debt is too high, such as credit cards, loans have high debts, etc., in order to balance risks, lending institutions will also raise interest on the basis of normal loan interest.
The higher the repayment base, the lower the interest
Personal repayment ability is also one of the important factors in the loan. Personal income is mainly based on bank flow, and some institutions are subject to the credit report. Some lending institutions will judge according to the applicant's social security contribution base; One is the applicant's proof of assets, such as whether there is a property or car under the regular name. This is also a criterion for judging that the applicant does not meet the institution's established loan interest rate.
The more stable the employment industry, the lower the interest
Many lending institutions offer unsecured loan products for civil servants, employees of public institutions, etc., and the interest rate is much lower than that of ordinary wage earners. The reason is because the income of this type of customers is relatively stable, the fluctuation is small, and the time for paying wages is accurate. All banks and lending institutions will give interest rates to these types of occupations, so that they can use loans to reduce the risk of loans.
Personal choice decision
01. Choose different lending institutions, and the applicant's loan interest rate is also different.
Generally, banks and other lending institutions: banks have high requirements for applicants, and applications and audits are long, and interest rates are relatively low. Credit institutions require lower prices, lending speeds, and relative interest rates are slightly higher than banks.
02. Choose not to choose a credit manager to help you, and your loan interest is different.
For example, customers need 1 million, divided into 10 years. Because the customer does not understand the market, I apply for a loan of 8%, which is considered worthwhile, but the credit intermediary has channel customers to make 5% interest, which saves you 180,000 interest, only need to pay 30,000 agency fees, a total savings 150,000, this is the right choice for the account manager to help you save interest.
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