Interest = cumulative interest-bearing products × daily interest rate
In which cumulative interest-bearing product = total daily balance.
2. The individual interest calculation method is based on the preset interest calculation formula:
Interest = principal × interest rate× loan term. Interest is calculated on a lump sum basis. There are three specific types:
If the interest-bearing period is a whole year (month), the interest-bearing formula is: interest = principal × year (month )× year (month) interest rate.
If the interest period has a whole year (month) and odd days, the interest formula is: interest = principal× year (month )× year (month) interest rate+principal× odd days× daily interest rate.
Extended data:
Floating range of bank loan interest rate
In 2004, the central bank released the floating range of bank loan interest rate, and the upper limit of bank loan interest rate was no longer limited, and the lower limit was 0.9 times of the benchmark interest rate. However, there is still an upper limit on the loan interest rate of credit cooperatives, which requires that the upper limit of the loan interest rate of credit cooperatives should not be higher than 2.3 times the benchmark interest rate.
20 13 with the approval of the State Council, the People's Bank of China fully liberalized the control of loan interest rate of financial institutions from July 20th, 20 13, and all the restrictions involved in the lower limit of loan interest rate, discounted bill interest rate and upper limit of loan interest rate of rural credit cooperatives were cancelled.
20 15 the bank changed the interest rate to the one-year benchmark interest rate of 4.35%. The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124, to further reduce the social financing costs.
Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to1.5%; The benchmark interest rates of other loans and deposits and the lending rates of the People's Bank of China to financial institutions are adjusted accordingly; The interest rate of individual housing provident fund loans remains unchanged.
Baidu encyclopedia-bank loan interest rate
Baidu encyclopedia-loan interest rate