Loan interest = loan amount, loan interest rate, loan term = loan amount, days and days, daily interest rate = loan amount, monthly interest rate = loan amount, annual interest rate.

Loan days = actual Gregorian calendar days (such as 20 12 1 to 20 1 2 May 24th, which should be1actual February days, actual March days, actual April days and actual May 24th days).

Daily interest rate = annual interest rate /360

Monthly interest rate = annual interest rate/12

Note: The benchmark loan interest rates announced by the central bank are all annual interest rates.

Extended data

There are two calculation methods:

(1) Regular interest calculation

For loans with regular interest, the 20th day of the last month of each quarter is the interest settlement date, and the interest period is the 20th day of last quarter.

Calculation formula = interest-bearing products × (annual loan interest rate ÷360)

(2) Interest settlement one by one

Interest settlement by transaction means that the interest will be settled together with the principal.

Loan interest = loan amount × loan days × (annual loan interest rate ÷360)