Minute is one percent of the monthly interest rate, that is, one-month payment 1%.
Small farmers' loans of rural credit cooperatives shall be paid off with profits. If it is a cross-year loan, the interest must be settled in one lump sum before the end of the year. The interest settlement date is 65438+ February 20th every year.
Except for small-scale farmers' loans, short-term loans (with a term of less than one year, including one year) bear interest according to the legal loan interest rate of the corresponding grade on the signing date of the loan contract. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by installments.
Short-term loans are settled quarterly, and the 20th day of the last month of each quarter is the settlement date; If the interest is settled on a monthly basis, the 20th of each month is the interest settlement date. The specific interest settlement method shall be determined by the borrower and the lender through consultation. Interest that cannot be paid on schedule during the loan period shall be compounded quarterly or monthly according to the loan contract interest rate, and after loans overdue, at the default interest rate. When the last loan is paid off, the profit will be paid off with the principal.
The interest rate of medium and long-term loans (with a term of more than one year) should be fixed at one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) bears interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract, and the interest rate for the next year is determined according to the legal loan interest rate of the corresponding grade at that time after each full year (subject to the payment date of the first installment loan). Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate.
Details are as follows:
Annual profit 1%, that is, 1%, and annual loan income 100 yuan;
Monthly income 1%, that is, 0. 1%, January lending income 10 yuan;
Daily profit 1%, that is, 0.0 1%, and daily loan income 1 yuan.
The score is 10 times that of Li.
Matters needing attention in loan interest calculation:
The common unit of private lending is "Li", which means several thousandths. For example, 3% interest is 0.3%, and interest is calculated by time. Before calculation, it is necessary to distinguish whether it is day, month or year.
Interest rates are usually divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage of the principal, the monthly interest rate as a percentage, and the daily interest rate as a percentage.