The total loan is 700,000 yuan.
Repayment months: 60 months
Monthly repayment13,712.70 yuan.
The total interest paid is 122762.22 yuan.
The total principal and interest is 822,762.22 yuan.
Decreasing monthly repayment
The total loan is 700,000 yuan.
Repayment months: 60 months
Repayment in the first month 15487.50 yuan.
Decreasing monthly: 63.68 yuan
The total interest paid is 1 16535.42 yuan.
The total principal and interest is 8 16535.42 yuan.
How is the bank loan interest rate calculated?
1. What's the loan interest rate?
The loan interest rate in China is managed by the People's Bank of China, and the interest rate determined by the People's Bank of China is implemented after being approved by the State Council.
The loan interest rate directly determines the profit distribution ratio between the borrowing enterprise and the bank, thus affecting the economic interests of both borrowers and lenders. The loan interest rate varies with the type and duration of the loan, and it is also related to the scarcity of borrowing funds.
(1) legal interest rate:
The interest rate set by the People's Bank of China approved by the State Council and authorized by the State Council is the legal interest rate. The announcement and implementation of the statutory interest rate shall be the responsibility of the head office of the People's Bank of China.
(2) benchmark interest rate
The deposit and loan interest rates of the People's Bank of China to commercial banks and other financial institutions are the benchmark interest rates. The benchmark interest rate is determined by the head office of the People's Bank of China.
(3) Contract interest rate:
The lender and the borrower shall, in accordance with the statutory loan interest rate stipulated by the People's Bank of China and specified in the loan contract and the specific loan interest rate agreed in the floating range.
Second, how to calculate the loan interest rate?
The loan interest rate is a kind of bank interest rate, which is generally higher than the deposit interest rate. The difference between the two is the main source of bank profits.
3. How to calculate the monthly interest rate of bank loans? How to calculate the monthly interest?
According to Bian Xiao, the monthly interest rate of bank loans is the annual interest rate divided by 12. For example, at present, the benchmark interest rate for loans over five years is 4.90%, divided by 12 months, and the monthly interest rate is about 0.4 1%.
Take the loan interest rate of ICBC as an example. Suppose Mr. Sun borrows RMB 654.38+million with a term of 6 months. The repayment method is to pay interest on a monthly basis and repay the principal at maturity, with an annual interest rate of 9.00%. Then:
Monthly interest rate: 9.00%12 = 0.75%
Monthly interest: 100000× 0.75% = 750 yuan.
The monthly interest on 750 yuan is 4,500 yuan in six months. That is to say, Mr. Sun needs to pay interest 750 yuan every month, totaling 4,500 yuan, and the total principal and interest is104,500 yuan. What needs to be understood is that the repayment method has a direct impact on the monthly interest. Different repayment methods require different monthly interest.
Third, the calculation method of mortgage interest rate
Mortgage interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks.
Calculation formula of interest: interest = principal × interest rate × deposit period (time).
The calculation of mortgage interest will be different because of the different loan methods and mortgage repayment methods. According to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average capital.
1, equal principal and interest calculation formula
Calculation principle: from the beginning of monthly contribution, the bank first charges interest on the remaining principal, and then charges the principal; The proportion of interest in monthly contributions decreases with the decrease of residual principal, and the proportion of principal in monthly contributions increases with the increase, but the total monthly contributions remain unchanged.
It should be noted that the maximum amount of provident fund loans in various cities should be determined according to local conditions. For residents who have borrowed money to buy a set of housing but whose per capita area is lower than the local average, and then apply for buying a second set of ordinary self-occupied housing, the preferential policy of purchasing ordinary self-occupied housing with the first loan shall be implemented mutatis mutandis.
2. Calculation formula of average capital
Monthly repayment amount = monthly principal+monthly principal and interest; Monthly principal = principal/repayment month;
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate.
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.