1. min 1 min, the minute means110, which is converted into RMB11000. When the interest is calculated monthly, 1%/ month, the annualized interest rate is 1.2%.
If the interest rate is 3% and the interest is calculated monthly, the annualized interest rate is 3.6%; If daily interest is calculated, the annualized interest rate is108% (0.003 * 30 *12 =108%; 0.003*365= 109.50%), a veritable usury.
If the loan is RMB 6,543,800,000, the interest is 3%/ month, the monthly interest is 30 yuan and the annual interest is 360 yuan; If the interest rate is 3%/ day, the monthly interest rate is 900 yuan and the annual interest rate is 10800 yuan.
2. If the score is 1, it is1100 when converted into RMB. When calculating the monthly interest rate, 1 minute/month, the annualized interest rate is 12%.
If the loan is 1 000 yuan and the interest is 1 minute/month, the monthly interest is 1 000 yuan and the annual interest is 1, 200 yuan.
3. Written agreement, if the interest rate is expressed in minutes or cents, it generally refers to the monthly interest rate.
No matter how many percent, per minute or */10,000 yuan interest is calculated, there must be a specific and clear written agreement. Of course, even if it is agreed in writing, if the annualized interest rate exceeds 36%, some laws exceeding 36% will be deemed invalid.
When many people borrow money from the private sector, they often use the term interest. People who don't know much about finance may have questions. What does 3% interest mean?
how much is it? The centimeters here are not centimeters, but centimeters of yuan, jiao, fen, fen, milli, micro, nano and pi. In China, the current currency "fen" is the smallest currency, but in actual use, there are "fen" and "milli" (110 fen sum.
Therefore, in private lending, it is common to have some interest, some interest, 1%, 0. 1%, 5% interest and 0.3% interest.
According to usage, 3% interest is 0.3%. Is such a low interest annualized? Of course not.
Generally speaking, the repayment date of private loans is agreed on a monthly basis, so when the interest rate is 3%, it means that the monthly interest rate is 3%, and the converted annual interest rate is 0.3%* 12=3.6%.
And as far as I know, there are few such low interest rates, which are generally three points per month, which means the annual interest rate is about 36%.
Special reminder, according to the latest judicial interpretation, the interest rate agreed by both lenders and borrowers does not exceed 24% of the annual interest rate. If the lender requires the borrower to pay interest at the agreed interest rate, it shall be supported. If the interest rate agreed by the borrower and the borrower exceeds the annual interest rate of 36%, the interest agreement for the excess part is invalid. If the borrower requests the lender to return the interest paid in excess of 36% per annum, it shall be supported. X (x = day, month, year) interest rate refers to the percentage of interest paid to occupied funds in order to completely occupy the whole length of X.
The interest is N-angle /n-minute /n-centimeter, that is to say, the interest to be paid for every yuan occupied in the X period is N-angle /n-minute /n-centimeter. If the unit of X is not mentioned, X is usually one month.
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The monthly interest rate is 3%, which means the monthly interest rate is 0.3%. The average monthly interest rate is: [( 1+0.3%)? -1] × 100% = 3.66% is very low.
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If the monthly interest rate is 3%, then the annual interest rate is: [( 1+3%)? -1] × 100% = 42.58% is very high.
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Converting monthly interest rate into annual interest rate is not simple and direct × 12. When the interest rate is low, there is little difference. For example, when the interest rate is 3%, the annual interest rate difference is 0.06%. There is a big difference when the interest rate is high, for example, when the monthly interest rate is three points, the difference is 6.58%; When the monthly interest rate is ten cents, the annual interest rate is 2 13.84%. How much do you want to differ from 120%?
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If the interest rate is low, the direct calculation of × 12 is not much different from the index, and you won't care. When the interest rate is high, the calculation of index is very different from that of multiplication. No one will agree that you can directly calculate × 12, especially usury, and use the index to calculate.
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Monthly interest rate = monthly interest rate
February interest rate =[( 1+ monthly interest rate) (1+ monthly interest rate)-1] × 100%.
Quarterly interest rate =[( 1+ monthly interest rate)? - 1]× 100%
Semi-annual interest rate =[( 1+ monthly interest rate)? - 1]× 100%
Annual interest rate =[( 1+ monthly interest rate)? - 1]× 100%
Hello, when I didn't work in a bank, I also had such doubts: when I was a child, my parents, relatives and friends often heard me discuss the concepts of "one profit" and "several profits" because of borrowing.
Now, let's learn the terminology of this popular loan element with you:
1. When the interest is expressed in "minutes" and "centimeters", it generally refers to the monthly interest rate. If you want to change it to an easy-to-understand annual interest rate, you need to multiply it by 12:
For example, in private lending, 10000 yuan is lent to someone to receive a profit, that is, monthly interest 1% and annual interest rate12%;
10000 yuan to lend someone 5% of the income, that is to say, the monthly interest rate is 0.5% and the annual interest rate is 6%;
In fact, "cents" is calculated based on "1 yuan".
For example, if I lend you 1 yuan, I will give you 1 cent a month and 12 cent a year, which is 0. 12 yuan. Only now, with the development of society, there is almost no borrowing behavior of tens of dollars, all of which are tens of thousands of dollars, but this statement is still circulated by the older generation.
Nowadays, many bank wealth management products, such as the expected rate of return of 6%, many old customers will casually pay 6%, which is actually wrong.
This 6% interest rate is the annual interest rate, which translates into 6%÷ 12=0.5%, which is commonly known as 5% interest.
3% interest generally refers to 3% monthly interest, that is, 0.3% monthly interest, which is equivalent to 3.6% annual interest.
That's a good question Everyone knows that private lending often says that the interest rate is a few percent or a few cents, but do you know how the interest is calculated? I think the answer is no!
For example, the monthly interest rate of 3% is 0.3%, and the annual interest rate is 12× 0.3% = 3.6%. If you borrow 10000 yuan 1 year, the interest due is 10000× 3.6% = 360 yuan;
The annual interest rate is 3%, which means 3%. If the loan of 65,438+00,000 yuan is 65,438+0 years, the interest due is 65,438+00,000× 3% = 300 yuan;
The daily interest rate is 3%, that is, 0.03%, the monthly interest rate is 0.03% × 30 = 0.9%, and the annual interest rate is 0.9 %× 12 = 10.8%, 10000 yuan. If the loan is 1 year, the interest due is 10000.
Personally think it is appropriate. After all, private lending is legal in nature, like many microfinance companies are derivatives of private lending. There is no essential difference between interest calculated by% and interest calculated by percentage, except that China people are more accustomed to interest calculated by%, while foreigners prefer interest calculated by percentage.
However, it should be noted that interest rates must be within the statutory scope before they are protected by law. Beyond the statutory scope, the court does not protect it, or even considers it invalid. At present, the lending relationship 100% with annual interest rate below 24% is protected by law, while the lending relationship with annual interest rate above 24% and below 36% adheres to the principle of no protection and no prohibition, and the lending relationship with annual interest rate above 36% is prohibited by law!
To sum up, it is ok to calculate interest by percentage, just depending on which method you prefer. However, it should be noted that there is a big gap between the annual interest rate of 3% and the daily interest rate of 3%. If the customer borrows money, be sure to see clearly how the interest calculation method is stipulated in the contract! 10 is one point, 10 is one point. Li is a traditional interest-bearing unit in China.
Centimeter is the unit of measurement used in China in ancient times, because there were no counting methods such as percentage sign (%) and micrometer (‰) in ancient China.
At present, private lending mostly adopts the unit of measurement Li, which is a commonly used unit of interest calculation orally.
The normal interest rate of 3% refers to the monthly interest rate of 3%, that is, the monthly interest rate is 0.3% and the annual interest rate is 0.3%× 12=3.6%. However, compared with the current benchmark interest rate of bank short-term loans of 4.35%, which is lower than that of the People's Bank of China, it is unlikely that this interest rate will be a monthly interest rate.
If the daily interest rate is 3% and the monthly interest rate is 9 points (30 days a month), that is, the monthly interest rate is 9%, the annual interest rate reaches an astonishing 108%. There is no doubt that it is a folk usury.
According to Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases:
If the agreed interest rate between the borrower and the lender does not exceed 24%, the borrower shall pay interest to the lender at the agreed interest rate. If the borrower defaults, the court will support the lender;
Whether it belongs to usury depends on whether the loan interest rate exceeds 36%. In other words, if the annual interest rate exceeds 36%, the excess interest rate is invalid.
One Li refers to 0. 1% and three Li refers to 0.3%. Li can be a daily interest rate, a monthly interest rate or an annual interest rate. Generally speaking, Li refers to the monthly interest rate or the daily interest rate, and the annual interest rate is unlikely.
If 3% here refers to the daily interest rate, then the annualized interest rate is 0.3%×365= 109.5%. Undoubtedly, this is usury. If 3% here refers to the monthly interest rate, then the annualized interest rate is 0.3%× 12=3.6%. Because this value is too small, 3% in this question refers to the daily interest rate.
Cents are mainly used for private loans. Private lending is expressed in points or points, with one point representing 65,438+0% and one point representing 0.65,438+0%. If daily interest, monthly interest and annual interest are not specified, then the annualized interest rate is calculated according to the specific situation, and then the numerical value is excluded, which is based on the closest actual situation. In actual private lending, it is usually stipulated as daily interest.
Nowadays, interest rates are used less and less in banks and other financial institutions, and it seems that they are gradually withdrawing from this financial society. However, when borrowing privately, it is still necessary to understand the meaning of interest rate, so as to avoid misunderstanding interest rate and thinking that interest rate is low, but actually borrowing usury.
3% interest is a folk oral expression, which means that the ratio of interest to principal is 0.3%, which is the interest rate. The interest of 0.3 cents per yuan of principal may be a day, a month or a specific period of time. Most of them are popular folk sayings here, and the month counts. If the monthly interest rate is 0.3%, the annual interest rate is 3.6%, and so on.
Accurately speaking, interest and interest rate are two concepts. Interest refers to the profit generated by the principal or the bad interest charged, and the interest rate is the ratio of interest to principal. But ordinary people tend to confuse them, equate them with each other rather than distinguish them, and sometimes gradually agree that they are universal.
Generally speaking, private lending defaults to RMB as the principal and monthly as the time. But they often don't say it, which leads to misunderstanding and incomprehension. In fact, in communication, it should be said that it is the most clear statement to calculate in percentage and time unit, such as daily interest rate 1%, monthly interest rate 1%, or annual interest rate15%; If the daily interest rate is 1% and the monthly interest rate is 3%, it will be puzzling to ask one more question: how can I give you interest if it is less than a dime (currency without a few cents)? Is it a point a year or a point a day? For example, the questioner's question will easily lead to misunderstanding and increase the frequency and cost of information transmission.
This convention is a matter of semantic expression, but some people may not understand it outside the line or at some time. For example, "interest 3%", is it total interest 3% or monthly interest or monthly interest rate or something? Is it symbolic? There is also "3% monthly interest", which means a few more words.
The established rules and statements do not mean that sum equals what the other party knows every time or what you really mean. Therefore, the most effective way to convey information is to express your meaning in the most concise and clear words.
In ancient China, there was no percentage or Arabic data to keep accounts, so in ancient China, the expression of lending interest rate was always in minutes, minutes and angles. This tradition has been passed down to this day and has become a common interest rate calculation method for private lending.
how much is it? The basic monetary unit in China is: Yuan, Jiao, Min, Min, Millicent, etc. However, with the changes of the times and the rise of prices, the lowest unit of paper money is the angle, while the lowest unit of accounting data in the computer system is the minute (0. * * Yuan, with two decimal places). At present, Li's application has basically disappeared and is still popular in private lending.
Points are usually expressed by percent sign (%) and decimals by micrometer sign (‰).
How much is the interest of 3%? This is divided into daily interest, monthly interest or annual interest. Under different circumstances, the final interest rate is completely different.
Daily interest rate of 3%: refers to the daily interest rate of 3‰, which translates into a monthly interest rate of 9% and an annual interest rate of 109.5%.
Monthly interest rate of 3%: refers to the monthly interest rate of 3‰, which is converted into annual interest rate of 3.6%.
3% annual interest rate: refers to 3‰ annual interest rate.
In private lending, whether it is divided or divided, it usually refers to monthly interest, that is, the interest rate is 3%, that is, the monthly interest rate is 3‰, that is, the monthly interest rate in 3 yuan 1 000 yuan. If the interest rate is 1.3%, it means that the monthly interest rate is 1.3%, namely 1000 yuan and 13 yuan.
The general interest rate of private lending is obviously rare in reality (the deposit interest rate is almost the same). At present, the general interest rate of private lending is between 1 minute and 2 minutes per month (that is, the monthly interest rate is between 1%-2%, and the annual interest rate is 12%-24%). According to the latest the Supreme People's Court "on the trial of private lending,
The monthly interest rate is less than 2 points (annual interest rate is 24%) and the court supports repayment; No matter the monthly interest rate is 2 -3 points (that is, the annual interest rate is 24%-36%), the monthly interest rate of more than 3 points (the annual interest rate is 36%) belongs to usury, and the borrower does not need to repay it.