There are two ways to calculate the interest of housing loans:
The calculation formula of 1. equal principal and interest is: [loan principal× monthly interest rate× (1interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months].
2. Calculation formula of average fund: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate, where the symbol indicates power.
For example, the principal is 65,438+00,000 yuan, the bank loan is 65,438+00 years, and the benchmark interest rate is 6.65%. Compare the differences between the two loan methods:
1. Equal principal and interest repayment method: monthly interest rate = annual interest rate12 = 0.066512 = 0.005541667; Monthly repayment principal and interest = [10000× 0.005541667× (10.00546545438+0667)120]; [( 10.544438]. The total repayment amount is 1376538. 4436, and the total interest is 37 175200 yuan.
2. Average repayment method: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated principal repaid) × monthly interest rate = (10000 ÷120) (10000-accumulated principal repaid )× 0. The repayment in the first month is 138.75 yuan, with a monthly decrease of 0.462 yuan; The total repayment amount is 13352+0 yuan; Interest 3352.7438+0 yuan.
First, the calculation method of housing loan interest
Bank loans to buy a house, the calculation of loan interest mainly depends on the down payment amount, repayment method (equal principal and interest repayment or equal principal repayment), loan term, bank interest rate and so on.
As the national policy on the real estate market is changing, both the bank interest rate and the down payment amount may change. Then, when calculating the interest of buying a house with a bank loan, it should be calculated according to the new data.
1. repayment method of equal principal and interest: monthly repayment amount = [loan principal× monthly interest rate× (1interest rate) repayment months ]≤[( 1 interest rate) repayment months-1], and monthly interest payable = loan principal× monthly interest rate× [(/kloc)
2. Average principal repayment method: monthly repayment amount = (loan principal ÷ repayment months) (loan principal-accumulated repaid principal amount) × monthly interest rate = loan principal ÷ repayment months, monthly interest payable = remaining principal × monthly interest rate = (loan principal-accumulated repaid principal amount )× monthly interest rate = monthly payable principal× total interest = [(loan)
Note: Pay attention to the method of handling loans, and bring personal data and relevant certificates to local financial institutions to ensure smooth handling of loans.
How to calculate the interest on housing loan?
Loan interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks. The calculation formula of interest is:
Interest = principal × interest rate× deposit period (i.e. 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 principal.
How to calculate the mortgage interest? First of all, we should understand the basic knowledge of interest.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
Daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.
Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
Extended data:
Calculation method
Tool description
1, operation steps:
Step 1: First, choose whether your repayment method is average capital or equal principal and interest, and fill in the commercial loan term, loan amount and actual loan interest rate;
Step 2: Select whether to display repayment details, and click "Calculate" to get detailed information such as monthly repayment amount, total loan interest, total repayment amount, etc.
point out
1. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans.
2. Calculate the monthly payment, total interest and total repayment of commercial loans when choosing the repayment method of average capital and equal principal and interest.
According to the repayment formula of general mortgage loans, it can be divided into two types:
I. Calculation formula of equal principal and interest:
Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.
It should be pointed out that:
1, the maximum amount of urban provident fund loans should be combined with local conditions;
2. For residents who have borrowed money to buy a house 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 policies for buying ordinary self-occupied housing with the first set of loans shall be implemented mutatis mutandis.
Second, the average capital calculation formula:
Monthly repayment = monthly principal, monthly principal and interest
Monthly principal = principal/repayment months
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.
Formula description
According to the above formula
Principal: total loan amount
Number of repayment months: loan term X 12. For example, for a loan of 10 years, the repayment period is 10X 12= 120 months.
Monthly interest rate: monthly interest rate = annual interest rate/12.
Annual interest rate: that is, in the hot topic of mortgage discussion, the figure obtained after the base interest rate is 30% off and 8.5% off.
Cumulative repayment amount: the cumulative repayment amount in the first month of average capital repayment law is 0.
For example: 2009 annual interest rate table
Basic annual interest rate: 5.94%
15% annual interest rate: 5.05%
30% annual interest rate: 4. 16%
Annual interest rate of provident fund: 3.87%
explain
Mr. Wang borrowed 400,000 yuan from the bank to buy a house and paid it off in 20 years. The bank gave Mr. Wang a 30% interest rate.
If the annual interest rate is changed to monthly interest rate, the monthly interest rate is 4.16%/12 = 0.00347.
Average capital repayment method:
Monthly principal = 400,000/240 =1.67
Monthly principal and interest = 400,000× 0.00347 =1388.
Repayment in the first month =1.671388 = 3054.67 (yuan)