Global interest rates are rising, and it is really not easy to "borrow flat money" again.
However, tax loans this year are surprisingly still advertised as "low interest rates". At present, the minimum effective annual interest rate of many bank tax loans on the market is less than 2%, and there is an "arbitrage" level with banks' one-year regular term of 4%.
However, some experts reminded that the lowest interest rate has been added to discounts such as cash rebates, and there are additional conditions, so you must pay attention when applying.
At the same time, tax loans are repaid on a monthly basis. Regardless of the purpose of the funds, even if they are converted to fixed deposits, liquidity risks must be paid attention to.
There is a big difference in the interest rate of major tax loans
At present, the actual minimum annual interest rate of bank tax loans on the market is often advertised as "lowest", and some can even exceed 2%, but the actual difference is very large.
Compared with borrowing a tax loan of 300,000 yuan with a repayment period of 12 months, the actual annual interest rate of the bank tax loan offered on the market ranges from 2.01% to 4.28%. The lowest actual annual interest rate is provided by Bank of East Asia, with an interest rate of 2.01% The monthly repayment amount is 25,200 yuan, and the interest expense for the whole period is 3,329 yuan, followed by Bank of China Hong Kong's 2.98 percent. The monthly repayment period is 25,400 yuan, and the interest expense for the whole period is 4,799 yuan.
The highest actual annual interest rate is HSBC, the interest rate is 4.28%, the monthly repayment amount is 25,500 yuan, and the interest expense for the whole period is as high as 6,840 yuan.
Taking a tax loan of RMB 300,000 and a repayment period of 12 months as a comparison, the Bank of East Asia offers the lowest effective annual interest rate of 2.01%.
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Ultra-low interest tax loans are "difficult to find" for ordinary wage earners
If you want to obtain a tax loan below 2%, you generally need a larger loan amount, or there are conditions attached.
At present, the lowest actual tax loan annual interest rate in Hong Kong is 1.18% of Dah Sing Bank, the loan amount is as low as 10,000 to 100,000 yuan, the maximum loan amount is 1 times the tax amount, and the repayment date is 12 months, only with conditions , you need to register or hold a payroll account with the bank.
Another plan provided by the bank has a minimum annual interest rate of 1.86%, the loan amount must be at least 2 million yuan, and the repayment date is as short as 6 months.
If the loan amount is low, only 10,000 to less than 100,000, the interest on the 12-month repayment date will be 4.48%.
As for the minimum effective annual interest rate of 1.32% offered by the Bank of East Asia, to obtain this discount, the loan amount must be more than 800,000 yuan and the repayment must be in 12 months, that is, the monthly salary of the lender must reach 66,700 yuan or more.
As for the 1.62% of the virtual bank Zhongan Bank, the loan amount needs to be 1 million yuan in order to apply with the discount code, but the repayment period can be selected from 6 months to 24 months.
Li Chengxing said, do not simply calculate the "interest spread", the actual annual interest rate will take into account all discounts and handling fees.
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Experts remind not to simply calculate "interest spread"
Under the interest rate hike cycle, the cost of bank funds tends to rise, and some banks are still touting "low interest rates". Li Chengxing, a CFP certified financial planner, said that some banks may regard tax loans as a means of promoting and attracting customers, and the loan amount of tax loans is generally There are restrictions, and individuals will not be able to borrow very much. Therefore, in terms of promotion costs, it is theoretically "countable".
However, there are many things that citizens need to pay attention to when borrowing tax loans.
He reminded that the most important thing about tax loans is to pay attention to the actual annual interest rate, which will take into account all discounts and handling fees.
Assuming that you successfully apply for an East Asia tax loan of RMB 300,000 and get an effective annual interest rate of 2.01%, you can deposit the entire borrowed amount in the bank as a fixed deposit for one year. Based on the current HSBC fixed deposit interest rate of 4.3%, you can "earn" a total of RMB 9,571 "Interest spread".
With a simple calculation, investors would intuitively think that the "interest spread" is more than 2%, but it is not!
Li Chengxing pointed out that because the tax loan is repaid on a monthly basis, and the principal and interest of the fixed deposit are repaid on a specified date, so during the period of waiting for the fixed deposit to expire, I have to use extra cash to repay the repayment, so the extra funds are included in the calculation If , the return is definitely lower than 2.3%, further considering that if you choose the opportunity cost of other investments, the return on investment at any time is negative.
Zhang Peiyi said that the tax loan repayment period should be short rather than long. It is best to choose a general repayment period of 12 months, because the interest cost brought by a longer repayment period will also be higher.
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The repayment period is "short rather than long"
Li Chengxing also reminded that you need to pay attention to liquidity risks when you borrow tax loans for fixed deposits. As for the repayment period, it is generally between half a year and two years. The longer the period, the more the total interest expenses will naturally increase. Li Chengxing believes that it depends on individual circumstances , but in a sense, tax loans are private loans with relatively favorable terms, and should be regarded as short-term turnover.
Zhang Peiyi, Managing Director of China Tonghai Private Wealth Management, said that the tax loan interest offered by many banks on the market is very attractive on the surface, but you need to read the details carefully and compare yourself, because the lowest tax loan interest advertised in the advertisement may have included discounts Such as cash rebate, and there are conditions attached.
In terms of choosing the repayment period, she also suggested that "it should be short rather than long". It is best to choose the general repayment period of 12 months. Longer repayment periods will also result in higher interest costs.
Another thing to pay attention to is the amount of the loan. If you are a low-risk appetite, you can borrow money to make a high-interest fixed deposit, and you will receive the principal and interest after the fixed deposit expires. However, tax loans require monthly repayments, so you must carefully measure whether you can burden.
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