That brother did the math for me. I borrowed 300,000 yuan from the bank for ten years, and the interest rate was 5%. How much do I have to pay back every month? Thank you for buying a house without a loan! The bank loan is 300,000 yuan, with interest of 5% for ten years, and the monthly repayment is 3,330.62 yuan.

The interest rate is 5%, that is, the monthly interest rate is 0.5%.

Monthly repayment amount = 300,000 * 0.5% * (1+0.5%) (10 *12)/(1+0.5%) (10 * 65438)

Therefore, the monthly repayment is 3330.62 yuan.

Extended data:

1. What are the requirements for bank loans?

1. A citizen of China who has a permanent residence, permanent residence or valid residence certificate at the place where the loan bank is located, is under 65 years of age (inclusive) and has full capacity for civil conduct;

2. Have a proper occupation and stable income, and have the ability to repay the loan principal and interest on schedule;

3. Have a good credit record and willingness to repay, and have no bad credit record;

4. Being able to provide legal, effective and reliable guarantee recognized by the bank;

5. There is a clear loan purpose, and the loan purpose is in compliance with relevant regulations;

6. Other conditions stipulated by the bank.

Second, the significance

Banks put concentrated monetary and monetary funds out through loans to meet the demand for supplementary funds for social expansion and reproduction and promote economic development; At the same time, it can also obtain loan interest income and increase the bank's own accumulation.

In China, the principle of paid use of loans is also used to promote enterprises to improve their management; Take bank credit as an important way to allocate funds and an important economic lever to regulate the economy.

Supplementary information:

Loans must meet the conditions before they can be issued.

Loan application conditions:

1, if you want to have a fixed income, it depends on the salary details;

2. At least 18-65 years old;

3. If the loan is used for business or car purchase, there must be a guarantor and mortgage;

4. Good credit information.

Loan application materials:

1. Lender ID card;

2. The credit information of the lender in the last six months, and the credit information is good;

3. The bank card under the lender's name has been flowing continuously for nearly half a year;

4. The lender's residence certificate (rental contract, real estate license, water, electricity and gas invoices for the last three months);

5. Income certificate issued by the lender's work unit;

6. Social security, insurance policies and provident funds can also be loaned on a monthly basis.

If you want to borrow a higher amount, you can make a mortgage loan, such as a house and a car.