As a novice property buyer, you may not know what the monthly interest rate means. But don't worry, I will briefly introduce you to the question of what the monthly interest rate means.
What does the monthly loan interest rate mean?
The monthly interest of the loan, as the name implies, is the rate of payment within 1 month, and the rate value remains unchanged. Take the bank loan interest rate as an example. If you know the loan amount and monthly interest, you can calculate the monthly loan fee. The formula is: handling fee = loan amount × monthly interest. For example, the bank loan is 6,543.8+0,000 yuan, with a monthly interest rate of 0.5% and a handling fee of 50 yuan.
How to calculate the monthly loan interest rate?
We calculate the interest according to the loan of 65438+100000 years:
If you want to know the loan interest, you must first know what the loan interest rate is. Under normal circumstances, we calculate according to the benchmark interest rate of commercial loans, so the current one-year loan interest rate is 6.00%, and the annual interest of a loan of 65,438+10,000 yuan is:/kloc-0 100000×6.00% = 6000 yuan. The three-year interest of a loan of 654.38 million yuan is: (loan interest rate 6.15%)100000× 6.15% (1000000× 6.15%/kloc-0.
Note: The benchmark table of loan interest rates for each term is as follows: 5.60 for loans within 6 months (including 6 months), 6.00 for loans from 6 months to 1 year (including 1 year), and 6. 1 to 3 years (including 3 years).
The specific calculation methods and data are listed above. We can see that the annual interest on a loan of 6,543,800 yuan is 6,000 yuan, which is not a small sum.
What's the difference between monthly interest and monthly interest?
1. Different concepts
Rate refers to the rate of paying fees; Interest rate refers to the ratio of interest amount to principal in a certain period.
2. Different charging methods.
Generally speaking, if the fee is calculated according to the "rate", it is necessary to pay the fee in one lump sum; Most of the interest calculated according to the "interest rate" is repaid in installments.
3. Prepayment settlement methods are different.
Usually, the fees calculated by "rate" are mostly handling fees, and even if such fees are repaid in advance, the borrower must pay them off; For the interest calculated by "interest rate", if the borrower intends to repay in advance, it will usually settle the interest on the day of prepayment.
4. Different scope of application
Monthly rate, which is mostly used to calculate the handling fee of credit card installment payment; The monthly interest is mostly used for loans.
Editor's summary: After reading the above introduction, I believe everyone has a further understanding of what the monthly interest on loans means. Please continue to pay attention to our website for more information, and more exciting content will be presented to you later.
Guizhou rural credit cooperative angels in white loan interest rate
3.95%。 According to the product information of "angels in white Loan", the loan interest rate of Guizhou Rural Credit Cooperatives in angels in white is 3.95%, and "angels in white Loan" refers to the consumer loans issued by rural commercial banks to qualified doctors, nurses and other medical personnel in the service area.
The interest rate of commercial bank loans is generally based on credit products.
The rate of commercial bank loans is generally calculated at a certain rate according to the amount of credit products.
Conversion of loan interest rate
Bank loans are sometimes calculated at interest rates, and sometimes at interest rates. For example:
Rate-monthly rate is 3 million/10,000, and annual rate is 30 million/10,000.
Interest rate-annualized 3%
So how is the conversion between the rate and the interest rate?
Conversion formula of annual interest rate and interest rate:
Conversion formula of monthly interest rate and interest rate:
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How do Yin Bei consumer finance companies charge? Product rate introduction!
Yin Bei Consumer Finance Company is a financial institution approved by China Banking Regulatory Commission. There are many credit products under it, and the charging standards of different products are different. Today we will briefly introduce the charging standards of these products.
I. annualized comprehensive interest rate
1, easy to pay for products
The converted annualized comprehensive interest rate ranges from 0% to 36%.
2. Easy loan products
The converted annualized comprehensive interest rate range is 10%-36%.
Second, the service fee situation
1, account management fee
1 paypay
The range of account management fee is 0% month.
2 Easy loan
The range of account management fee is 0% month.
Account management fee refers to the fees charged by Yin Bei consumers when providing loan management services to customers, including: customers entrust customers with loans to provide loan consultation, loan scheme design, application for prepayment, notice of loan arrival, issuance of settlement vouchers, loan installment, payment of commodity fees, etc.
2. Installment fee
1 paypay
The installment fee range is 0% month.
2 Easy loan
The installment fee range is 0% month.
3. liquidated damages for advance payment
Some products are subject to prepayment penalty, and the charging standard is: 2% of prepayment principal and not less than RMB 30 yuan.
4. Late payment fee
If loans overdue fails to pay back, the company will charge 3% of the overdue amount according to the overdue times and not less than the overdue fee of 30 yuan.
5. Damages for overdue breach of contract
If loans overdue doesn't pay it back, the company will charge 3% of the overdue payment and a late fee not less than that of 30 yuan.
Yin Bei consumers plan to adjust the prepayment penalty and overdue penalty on June 20 19. The adjusted situation is as follows:
1 liquidated damages for prepayment: the proportion of liquidated damages for prepayment principal is (0, 1%-3%) and not less than RMB 30 yuan (the specific charging standard is subject to the contract agreement confirmed by the customer);
2. Overdue liquidated damages: the proportion of unpaid liquidated damages is (0, 1%-5%) and not less than RMB 30 yuan (the specific charging standard is subject to the contract agreed by the customer).
What does the annualized loan interest rate mean?
The annualized interest rate is the interest rate discounted to the whole year through the inherent rate of return of products. It is more convenient and intuitive to convert short-term interest rates into one-year ones.
According to the given conditions, if the investment is 3 1 day, the income =100010% 31/365 = 8.49 yuan.
For example, deposit 1 000 yuan at the beginning of the year, with a semi-annual interest rate of 2%, and get 1 020 yuan after half a year. If it is annualized at a half-yearly interest rate of 2%, the annualized interest rate is 4%. Similarly, if the quarterly return rate is 3%, the annualized return rate is 12%.
For example, if the daily interest rate is 0. 1%, the annualized interest rate is 0. 1%x365=36.5%. The monthly interest rate is 7%, so the annualized rate is 0.7%x 12=8.4%, and so on.
Extended data:
For long-term wealth management products, the subscription period and liquidation period may be negligible, but for short-term wealth management products within 7 days or 1 month, this time has a great impact.
For example, a bank's 7-day wealth management product is called annualized rate of return 1.7%, but it needs at least 8 days of funds, 1.7% 7/8 = 1.48%, which is almost the same as the bank's 7-day notice deposit, while the bank's notice deposit is much more convenient and stable than ordinary risk-based wealth management products.
Therefore, to look at the annualized rate of return, we should not only look at the declared figures, but also look at the actual income figures.