Bank consumer loan discounts are also piling up, with the lowest annualized interest rate starting with "1"-瞭望新时代网-瞭望时代，放眼世界

Bank consumer loan discounts are also piling up, with the lowest annualized interest rate starting with "1"

2023-12-12

At the end of the year, multiple banks quietly launched a price war for consumer loans. The reporter also learned that some banks attract customers through activities such as distributing coupons and discount coupons. For example, "Multiple good gifts with limited time drop, have the opportunity to enjoy 1.1% (simple interest) annualized interest rate coupons", "(simple interest) annualized interest rate coupons with a minimum of 2.8% fixed interest rate coupons, limited time flash sale". However, not all consumers can apply for marketing activities carried out by multiple banks, and the minimum interest rates of banks have certain thresholds and conditions. Recently, many banks have launched various forms of activities around lowering consumer loan interest rates to enjoy low interest rate conditions. For example, Ningbo Bank's "Ninglaihua" has recently launched gratitude benefits, which provide opportunities for some specially invited customers to enjoy 1.1% (simple interest) annualized interest rate coupons when borrowing. During December, the bank launched a limited time flash sale of 2.8% fixed rate coupons for new customers, and the annualized interest rate of the "direct loan" product (simple interest) can be as low as 2.8%. This coupon is limited to 5 tickets per day. The customer service staff of Ningbo Bank told reporters that the release limit of such interest rate coupons is very small, and it is not easy to obtain low interest loan interest rates, so it is necessary to work hard and quickly. In addition to limited edition low interest rate coupons offered by some banks, some banks have launched "group discounts", while others offer interest rate discounts to specific groups of people (employees of state-owned enterprises and public institutions). A staff member of a branch of Bank of Beijing stated that currently, there are preferential interest rates for applying for consumer loans at the branch. The minimum annualized interest rate for the first withdrawal can reach 2.98%, and the maximum amount is 500000 yuan. However, certain requirements must be met, and a group of 10 people is required to enjoy the preferential interest rate. "If the borrower's unit is a high-quality unit, the minimum interest rate for consumer loans can reach 3.2%, and the interest rate for loans that do not meet the above conditions is 4.02%." The above-mentioned staff added. According to the account manager of another bank in Beijing, the lowest annualized interest rate for consumer loans can reach 3.18%, but the unit must be a public institution. "If it's a regular unit, the interest rate for consumer loans is 4.6% to 4.8%," said the account manager. Yang Haiping, a researcher at the Securities and Futures Research Institute of Central University of Finance and Economics and the General Manager of the Research and Development Department of Inner Mongolia Bank, stated in an interview with Securities Daily that the reason why some banks are actively pursuing consumer loans towards the end of the year is: firstly, as the year-end consumption peak season approaches, relevant government departments have taken various measures to promote consumption and expand domestic demand. In order to support the expansion of consumption, commercial banks continue to make efforts in consumer loan marketing and investment. Secondly, some commercial banks have not yet achieved their consumer loan targets, so they are actively pushing towards their investment targets. Post loan management needs to be strengthened. "Promoting consumption is an important focus of current macroeconomic policies. Banks vigorously develop consumer loan business, reduce consumer loan interest rates, help boost consumer spending, support consumption recovery, and stimulate market vitality." Du Yang, a researcher at the China Bank Research Institute, said in an interview with Securities Daily that for banks' own operations, Consumer loan business is an important lever to achieve the transformation of "big retail", which is conducive to leveraging the inclusive nature of financial services and meeting the consumer finance needs of a wider group. The downward trend of bank consumer loan interest rates is due to market competition and policy guidance

Edit：Hou Wenzhe Responsible editor：WeiZe

Source：Securities Daily

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