The People's Bank of China announced on June 65438+1 October/October 2020 that in order to support the development of the real economy and reduce the actual cost of social financing, it decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage points on June 65438+1October 6, 2020. The loan interest rate of Hangzhou Bank is 5.35% for one year, 5.75% for one to five years (including five years), and 5.75% for more than five years.
Interest refers to the reward obtained by the fund owner from lending the fund, which comes from part of the profits formed by the producers using the fund to play their business functions. Interest is one of the manifestations of the time value of funds. From its formal point of view, it is the reward that the monetary owner gets from the borrower for issuing monetary funds.