In the internet finance industry, there are many terms that most users don't understand, and they don't understand when they encounter similar businesses. Today, I would like to introduce a commonly used term in the loan industry, "interest calculation by stages". Explain the meaning of installment interest.

Interest-bearing by installments is generally used for working capital loans with floating interest rates in foreign currencies. When adjusting the interest by stages, the interest shall be calculated monthly. Due to the difference between the number of days to calculate daily interest and the actual number of days to calculate daily interest, the daily interest is generally calculated by dividing the annual interest by 360 days, and the daily interest is equal to an increase in disguise.

For example, when the interest rate for 20 15 years is adjusted from 6.55% to 6. 15%, the month before the installment payment month is 3 1 day. If the repayment date of installment payment is before 16 days, the interest rate of 1 day is not actually enjoyed.

Assuming that Xiao Wang borrows 6,543,800 yuan, the calculated interest on the remaining balance before interest rate reduction is 654.38+0,000,000 * 6.55%/654.38+02 = 5,458.33 yuan.

If the repayment date is 16, the interest-bearing days before interest rate reduction are 16 days, and the interest-bearing days after interest rate reduction are 15 days.

The calculated interest amount is1000000 * (6.55%/360 *16+6.15%/360 *15) = 5473.61/kloc. In this way, if you calculate the daily interest in installments, you will get an extra day's daily interest. If you convert it into daily interest, you get 360 days, and the friend whose repayment date is 16 does not enjoy the interest rate cut.

Each bank has different ways of calculating interest by stages. For example, ABC calculates principal and interest by stages:

1. Calculate the principal according to the change of interest rate, the number of remaining repayment periods and the remaining loan balance. The principal calculated in the first period is the principal after the change of interest rate.

2. The interest is calculated by the old and new interest rates. The interest is equal to (loan balance multiplied by the old interest rate multiplied by the number of days before the change) plus (loan balance multiplied by the new interest rate multiplied by the number of days after the change), and the number of days is not calculated.

Therefore, the rules of each bank are different, and the interest rate of the algorithm is different. If you encounter the adjustment of bank interest rate in the process of repayment, you can consult customer service to ask about repayment.