1. How to calculate the monthly interest on bank loans
The interest rate of 9/1000 is the monthly interest. If you directly use 2.5 million/9000, it is the monthly interest payable = 22,500 yuan.
2. How is the interest on bank loans calculated?
The calculation of bank loan interest needs to be based on actual conditions. The amount of loan interest mainly depends on the loan interest rate of each lending institution, which generally floats within the interest rate range prescribed by the central bank. Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. my country's interest rates are uniformly managed by the People's Bank of China. Bank loan interest rates need to refer to the benchmark interest rate set by the People's Bank of China, and then the actual contract interest rate can fluctuate within a certain range based on the benchmark interest rate. When determining the interest rate of a loan contract with a bank or other financial institution as the lender, the parties can only negotiate within the upper and lower limits of the interest rate stipulated by the People's Bank of China. If the loan interest rate is high, the borrower's repayment amount will increase after the loan period; if the loan interest rate is low, the borrower's repayment amount will decrease after the loan period. The role of floating loan interest rates: 1. It is helpful to highlight the credit policy and business characteristics of the Bank of China, and provide certain interest rates to foreign trade enterprises, foreign-funded enterprises, foreign affairs enterprises, large and medium-sized export production enterprises, and high-tech production enterprises with good profits. Preferential offer; 2. It is conducive to promoting the synchronous development of related businesses of the Bank of China, including loans to the bank’s basic customers, temporary loans to customers whose deposits exceed their loans, and loans to customers handling import and export settlement business and intermediary business at the bank. In terms of interest rate standards, certain care can be given; 3. It is conducive to the cost accounting of credit funds, improving the asset-liability ratio and its cost structure. The fluctuation range of loan interest rates needs to refer to the bank's ability to bear comprehensive capital costs and the total amount of low-cost sources. The total amount of loans that restricts the interest rate will be subject to downward adjustment, and the total amount of high-cost sources determines the total amount of loans that will subject the interest rate to increase. The interest rate structure of capital sources should be compatible with the interest rate structure of capital utilization; 4. It is conducive to the risk management of credit assets. In principle, low-risk loans have low interest rates and high-risk loans have high interest rates. For enterprises that do not reach a reasonable proportion of their own funds, or do not replenish their own funds in accordance with regulations, and whose credit rating is low, interest rates should be used to promote their improvement of business management and economic efficiency.
3. How to calculate bank loan interest?
The calculation of bank loan interest is except for 360 days, not 365 days: for the convenience of calculation;
There are 12 months in a year, calculated based on 360 days, and a month only has 30 days.
The calculation of bank loan interest is except for 360 days, not 365 days: for the convenience of calculation; there are 12 months in a year, calculated based on 360 days, and a month only has 30 days.
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There are two calculations for bank loan interest: 360 days and 365 days;
Generally, the annual loan interest rate is converted into a daily interest rate based on 360 days; the loan date The interest rate is converted into the annual interest rate of the loan based on 365 days.
Article 3 of the "Notice of the People's Bank of China on the Calculation and Settlement of RMB Deposit and Loan Interest" stipulates that the calculation method of daily interest rate is annual interest rate/360.
The "Notice of the People's Bank of China on Adjusting the Daily Interest Rate Conversion Standard for Bond Repurchases" stipulates: "The daily interest rate is uniformly converted by dividing the annual interest rate by 365 days. If it cannot be completely divided, four decimal places shall be retained. Round to five digits”.
The "Standards for People's Handling of Enforcement Cases" promulgated by the Supreme People's Executive Bureau in 2017 stipulates as follows in item (3) of Article 161 of the same period loan benchmark interest rate: "The period of non-performance exceeds 1 For years, the interest for each full year is calculated based on the annual interest rate of the loan benchmark interest rate for the same period, and the interest for the remaining period is calculated based on the daily interest rate of the loan benchmark interest rate for the same period.
The daily interest rate is calculated based on the annual interest rate of the loan benchmark interest rate divided by 365. The reason why the two notices of the People's Bank of China have two methods of calculating daily interest is the method of interest settlement.
In the "Notice of the People's Bank of China on the Calculation and Settlement of Interest on RMB Deposits and Loans", it is for RMB deposits and loans, and the business specified in the notice is settled on a quarterly basis. In the "Notice of the People's Bank of China on Adjusting the Daily Interest Rate Conversion Standard for Bond Repurchases", for the inter-bank bond market, the interest accrual period is calculated based on the actual number of days for bond repurchases.
What’s the difference? According to the quarterly interest settlement method, there are four quarters in a year. The quarterly interest rate is calculated as the monthly interest rate multiplied by 3, and the monthly interest rate is calculated as the annual interest rate/12.
The interest rate is the same every month and every quarter, but we know that the number of days in each quarter is different.
If the daily interest rate is calculated based on annual interest rate/365, then the monthly interest rate in the months of 28, 29, 30, and 31 days is different, and the interest rate in each quarter is also different, which will cause Interest rate calculation confusion.
Using the annual interest rate/360 to calculate the daily interest rate and using the annual interest rate/12 to calculate the monthly interest rate can ensure that the interest rate is the same every quarter and every month, avoiding confusion visible to the naked eye. However, the method of calculating interest based on the actual number of days does not have the above problems. In order to ensure that the annual interest rate is the same as the daily interest rate, the interest rate is calculated using the annual interest rate/365 method.
After comparison, we found that it is difficult to say whether it is divided by 365 or 360. The key to whether it is correct lies in the interest settlement method. The calculation method that matches the real transaction can be said to be correct. In execution business, interest is calculated on a daily basis, so the daily interest rate is calculated by dividing the annual interest rate by 365.
4. How to calculate the 2% monthly interest?
Interest = principal × interest rate × deposit term. Assume that the principal is 1,000 yuan and the deposit is for 6 months, then the interest = 1,000 × 2% × 6 = 120 yuan.
Interest is the fee for using currency within a certain period of time. It refers to the remuneration that currency holders (creditors) receive from borrowers (debtors) for lending currency or currency capital. Including interest on deposits, loans and various bonds. Under capitalism, the source of interest is the surplus value created by wage workers. The essence of interest is a special transformation form of surplus value and is a part of profit. The amount of interest depends on three factors: principal, deposit period and interest rate level.
Interest formula:
1. Interest (year) = principal × annual interest rate (percentage) × deposit period.
2. Interest = principal × interest rate × time.
3. Deposit interest = principal × number of days × listed interest (daily interest rate) = number of interest accrual days × daily interest rate.
4. Interest tax = deposit interest (amount of income tax payable) × applicable tax rate.
Monthly interest rate refers to the interest calculated on a monthly basis. The monthly interest rate is expressed as a thousandth of the principal. Calculation formula: daily interest rate_annual interest rate÷360=monthly interest rate÷30