At present, the repayment methods of housing loans mainly include equal principal and interest repayment and equal principal repayment.
1. Repay the principal and interest in equal amount, and the principal will gradually increase.
The so-called matching principal and interest repayment means to repay the loan principal and interest with the same amount every month within the loan period until the loan is settled. That is, the sum of the interest and principal repaid by the borrower every month is equal, and the ratio of interest and principal to the planned monthly repayment amount changes every time. At first, because of the large amount of principal, interest accounts for a large proportion, and the current principal payable = planned monthly repayment amount-current interest payable. With the increase of repayment times, the proportion of principal gradually increases.
Calculation formula:
Planned monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate) × repayment months ]≤[( 1+ monthly interest rate) × repayment months = loan years × 12]
Monthly interest rate = annual interest rate/12
Number of repayment months = loan period × 12
Monthly interest rate = annual interest rate/12
2. Equal principal repayment, with interest from more to less.
Average capital repayment method refers to equal repayment of the principal every month, and the loan interest decreases month by month with the reduction of the principal until the loan is settled. That is to say, the amount of principal repaid every month is equal, and interest = current remaining principal × daily interest rate × current calendar days. The monthly repayment amount is not fixed, but decreases with the decrease of monthly principal, and the interest gradually decreases with the increase of repayment times.
Calculation formula:
Planned monthly repayment amount = (loan principal ÷ repayment months)+(loan principal-accumulated repaid principal) × monthly interest rate.
Accumulated repaid principal = months of repaid loan × loan principal/months of repayment.
At present, the repayment methods of banks are mainly equal principal and interest, average capital, biweekly payment and fixed interest rate. Introduce a variety of repayment methods for different customers. For example, equal principal and interest are suitable for teachers, civil servants and other working-class people with stable income; The average capital is suitable for borrowers who can bear greater repayment pressure in the early stage. For example, the repayment method can save more interest than the former; Biweekly payment is suitable for borrowers who pay wages every week or at the middle or end of the month. Remind borrowers not to choose repayment methods that are not suitable for them in order to save interest. In addition, borrowers should combine their existing repayment ability when applying for loans, and the monthly payment should generally not exceed 50% of family income.