2020 February 29, tiny gold received CCB sent "on the stock of floating-rate personal loan pricing benchmark for the conversion," the announcement, "according to the Chinese People's Bank of China Announcement [2019] No. 30, China Construction Bank will be held March 2020 since 1st start accepting floating stock pricing benchmark interest rate personal loan conversion business. "
on the same day, in agriculture, industry, construction and other major lines such notices were issued through various channels, has been discussed on major media drama conversion mortgage interest rates hubbub of LPR finally had begun.
As a tiny gold-coming "house slaves" one, in order to be able to save in an increasingly dry noodle pocket a few tons of money, well-read network, mining director of the public, and based on his many years of experience in the financial industry and the unique tools by contrast picture shows a few concise interpretation of LPR and we fixed interest rate, and then offer some suggestions on how you select a new interest rate way.
What is LPR interest rates?
LPR (Loan Prime Rate), the official definition [interest rate] lending market price, which is the interest rate in the loan market. Leaving aside the rhetoric of those genteel concept, long before we know the benchmark lending rate is the PBOC issued after the analysis and evaluation directly, how to analyze, how to calculate, we are all a smear, it is to do so. But as the market increasingly demanding degree of transparency, the PBOC adjusted the release mechanism base lending rate. Since August 2019, the People's Bank authorized dealers nationwide inter-bank Funding Center Based on monthly offer 18 lines offer the final market price of the loan interest rate, that is, LPR, monthly (case of holidays) released 20 May. LPR including more than 1 year and 5-year two species.
LPR calculation method is also easy to understand, this 18 banks each month on the 20th (case of holidays) before 9:00, to 0.05 percent based on units, submit offers to the National Interbank Funding Center; National Interbank Funding after removing the center of a highest bid and the lowest offer a arithmetic mean, calculated to the nearest rounded LPR to an integer multiple of 0.05%, announced on the same day 9:30, you can see the official website.
We have not found, this calculation is simply the not too rough, and usually watch TV host contest, comic contest much the same as what it! LPR offer the latest one was released March 20, the 1-year interest rate is 4.05%, more than 5-year interest rate is 4.75 percent.
By the way science about this 18 offer banks: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, CITIC Bank, China Merchants Bank, Industrial Bank, Shanghai Pudong Development Bank, China Minsheng Bank, Xi'an Bank, Bank of Taizhou , Shanghai rural commercial Bank, Guangdong Shunde rural commercial Bank, Standard Chartered Bank (China), Citibank (China), micro-public banks, network operators, banks, covering national banks, city commercial banks, rural commercial banks, foreign banks and private banks .
What needs to transfer loans LPR? How long conversion cycle there?
Need to convert the pricing benchmark for loans to meet several conditions: First, the January 1, 2020 has been issued, or have been contracted but not paid; the second is a reference benchmark lending rate pricing; third is floating rate.
Fixed-rate loans, the loan market has been the reference interest rate offer (LPR) of floating rate loans without conversion. The stock has been in the last repricing period of time to convert floating-rate loans. Individual housing provident fund loans does not require conversion, but the loan portfolio of commercial individual housing loans should be converted pricing benchmark.
The stock of floating-rate personal loan pricing datum transformation since the beginning of 2020 March 1, in principle, be completed before August 31, 2020.
How to convert old and the new interest rate?
Tiny gold in July 2019 have their own home, after ignoring two years to live on little sad and interest rates go up 15% of heartache, tiny gold is still very Happy Yeah! So how do you convert old and the new interest rate it? The People's Bank also gives the formula.
2021 new rate = December 2020 LPR interest rate + plus / minus point
plus / minus point = personal loan profit or execute Interest Rate Liberalization - December 2019 LPR interest rate
benchmark interest rate micro gold contract is 4.9%, go up 15% after the actual Loan interest rate is 5.635%; LPR interest rate in December 2019 was 4.8%, calculated subtraction point 0.835% (5.635% -4.8%); if December 2020 LPR interest rate is 4.75%, then in 2021 a new interest rate of 5.585 % (4.75% + 0.835%).
Or a good count of Ha! Gold for everyone to send a small benefit to more than 5-year lending rate, for example, lists common interest rate of conversion tables. 
The chart above 1 common 5-year lending rate LPR transfer rate conversion table
LPR choose fixed-rate or interest rates? Interest rates are bad it?
Now, tiny gold already know, if you choose to convert to LPR interest rates, assuming December 2020 LPR interest rate is 4.75%, then in 2021 a new interest rate of 5.585%; if you choose a fixed rate, so until the loan ended, the interest rate is always fixed at 5.635% .
Judging from the current trend of loan market point of view, interest rates are still downside. So choose LPR interest rate, or cost-effective Oh! Fast little friends brains turn children will ask, I loans for 25 years, such a long time, if the loan interest rates up the middle of it? If it up for longer than the down time?
Uh ...... this really hard to say, is not good to count out of it! Small children do not worry you partner, also has its own unique offerings tiny gold artifacts "The era of micro-LPR spreadsheet tool." We will now work together to calculate and small gold bar.
Tiny gold loan is August 1, 2019 loan, the loan amount is 100 million and the loan term of 25 years. We press these two options separately loan interest spreadsheets. 
Chart 2 more than five years from 1996 to 2019 the central bank base lending interest rates trends
Based on the map, small children can be seen partners, from 1996 to 2019, more than 20 years the central bank base rate published by the trend more than 5-year loan, the whole is in the down Oh! First Niulian eat tiny gold "guts", speculates that the next 20 years to a LPR for example herein by reference. Small children are only for reference partner Ha!
Chart 3 LPR fixed rate and interest rate (forecast) to schematic
spreadsheet results are as follows: 
Exhibit 4 fixed interest rate and the interest rate spreadsheet comparison table LPR
tiny gold seem to have seen countless bowls of hot, fragrant noodle beckons you, but different taste oh ......
ha ha ha ha ......
Figure 5 mouthwatering noodle Oh ......
so, although not what noodle delicacy, but also the ordinary people of the home-cooked food, can eat still very happy Ha! In addition to those little children who had partners discounted lending rates also need little tangled a bit, most people still turn LPR cost-effective it!