Banks usually have two loan calculation methods. Average capital and equal principal and interest, the former is a fixed monthly principal with decreasing interest, and the latter is a fixed monthly amount, in which the proportion of principal and interest changes. As far as you are concerned, I think it is the equal principal and interest method. Your monthly repayment should be 197 1.02 yuan. The specific calculation method can be asked by your account manager. Let me give you a brief introduction.
You borrowed 240 thousand for 20 years Regardless of the change of interest rate, you should finally repay 473,044.8 yuan, of which interest is 233,044.8 yuan.
The allocation to each month is 197 1.02 yuan, the interest in the first month is 240,000 yuan * interest rate *= 155 1 (you should know that the current monthly interest rate is 6.47, and the annual interest rate is * 12), and then every month.
In the second month, the same method, 240000-402 = 239579.98 (that is, the remaining loan principal) is still the interest rate. In the second month, your interest should be paid back to 1550.09, so in the second month, you paid back the principal1971.02-1550.09 = 420.93. etc
Rough calculation is not necessarily accurate, mainly because you can understand the meaning. The account manager has a function formula. There will be a monthly repayment form. You can see clearly. In the same 20 years, another average capital method will save a lot of interest compared with this method. It's just that the bank won't let you choose. The disadvantage of this method is that it is more stressful at first. According to the amount and term of your loan, you should pay back 2552.8 yuan in the first month, and then the monthly repayment will decrease month by month.
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The following are the calculation formulas of the two methods. You can compare it.