How to calculate the commercial loan calculation formula

Loan interest = loan amount loan interest rate loan term = loan amount in days daily interest rate = loan amount in months interest rate = loan amount annual interest rate

The number of loan days = the actual number of days in the Gregorian calendar (for example, January 1, 2012 to May 24, 2012 should be the actual number of days in January, the actual number of days in February, the actual number of days in March, the actual number of days in April, and 24 days in May ) Calculating the beginning and not the end.

Daily interest rate = annual interest rate/360

Monthly interest rate = annual interest rate/12

Note: The benchmark loan interest rate announced by the central bank Both are annual interest rates

Extended information

There are two calculation methods:

(1) Regular interest calculation

Regular interest calculation For loans, the interest settlement date is stipulated on the 20th of the last month of each quarter, and the interest calculation period is from the 21st of the last month of the previous quarter to the 20th of the last month of this quarter.

Calculation formula = interest accrual number × (loan annual interest rate ÷360)

(2) Interest settlement on a transaction-by-transaction basis

Interest settlement on a transaction-by-transaction basis will result in instant interest. The principal and interest settlement method.

Loan interest = loan amount × loan days × (loan annual interest rate ÷ 360)