I. Repayment of equal principal
The total expenditure of this repayment method may be reduced compared with the matching principal and interest, but the initial repayment pressure is greater. Used for mortgage loans, this method is more suitable for people who are at the peak of their work or are about to retire.
The average capital loan calculation formula is:
Monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
1, example 1:
The loan is 6.5438+0.2 million yuan, with an annual interest rate of 4.86% and a repayment period of 654.38+00 years;
(1) Equal principal and interest:
The repayment after 10 years is 15 1750.84 yuan, and the total interest is 3 1750.84 yuan;
(2) Average capital:
/kloc-repayment after 0/0 years 149403.00 yuan, with total interest of 29403.00 yuan;
The difference between the two is 2347.84 yuan/10 year, and the difference is only 235 yuan a year.
2. Example 2:
The loan is 6.5438+0.2 million yuan, with an annual interest rate of 4.86% and a repayment period of 20 years;
(1) Equal principal and interest:
Repayment after 20 years 187846.98 yuan, with total interest of 67846.98 yuan;
(2) Average capital:
Repay 178563.00 yuan after 20 years, and the total interest is 58563.00 yuan;
The difference between the two is 9283.98 yuan /20 years, and the difference is only 465 yuan a year.
3. Example 3:
The loan is 3 million yuan, with an annual interest rate of 4.86% and a repayment period of 30 years;
(1) Equal principal and interest:
Repay 57056 18.40 yuan after 30 years, with total interest of 27056 18.40 yuan;
(2) Average capital:
Repay 5 193073.80 yuan after 30 years, and the total interest is 2 193075.00 yuan;
The difference between them is nearly 5 1 10,000 yuan.
Therefore, the more loans, the longer the service life, and the equal principal and interest are more than the equal principal repayment.
Second, it is suitable for people.
The average capital method is more suitable for lenders with strong repayment ability some time ago, because the repayment amount in the early stage is large, and then it decreases month by month. Of course, some elderly people are also more suitable for this method, because their income may decrease with age or retirement.
1. If the loan is less than 200,000 yuan and the service life is less than 10 year, the difference between the principal method and the principal and interest method will not be too big.
2. If the loan exceeds 6.5438+0 million and the service life exceeds 20 years, it needs to be carefully considered, and the interest gap in the later period may be as high as several hundred thousand yuan.
The disadvantage of the average capital method is that the pressure of prepayment is great, especially when the amount is relatively large. However, due to the monthly decline, it is more relaxed in the later period. If you have extra income to repay in advance, or use the annual provident fund to offset the loan principal, you can pay off the loan more quickly.
Reminder: If you don't offer the principal, the bank will give you the principal and interest method by default, and the bank can get more interest.
Extended data:
Misunderstandings in the choice of repayment methods
Many people mistakenly think that the average capital repayment method can save interest because they don't understand the principle of calculating interest by banks. In fact, this is not the case.
1. What factors determine the loan interest?
If you deposit money in the bank every day, you will get a day's interest. The more money you save, the more interest you will get. The same is true for loans. If the bank loan lasts more than one day, it will pay interest for one more day. The larger the loan amount, the more interest will be paid to the bank.
The calculation formula of bank interest is: interest = amount of funds × interest rate × occupied time.
Therefore, the amount of interest, under the condition of constant interest rate, can only be determined by the time and amount of funds actually occupied, not by which repayment method.
2. Different repayment methods are only set to meet the different needs or consumption preferences of people with different incomes, different ages and different consumption concepts. Its essence is nothing more than that the loan principal is repaid first and then later because of "changing constantly" or "changing constantly", which leads to the long-term use and short-term use of the loan principal, and then affects the increase and decrease of interest with the change of actual capital occupation and duration.
It can be seen that no matter what kind of loan repayment method is adopted, banks do not do loss-making business, and customers do not have the benefit of saving interest expenses.
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