Extended data
How to calculate loan interest
Matching principal and interest repayment method:
Monthly loan amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months] ((1+ monthly interest rate )× repayment months]
Monthly interest payable = loan principal × monthly interest rate × [(1+monthly interest rate) repayment months -( 1+ monthly interest rate) ÷ [(1+monthly interest rate) repayment months -650.
Monthly repayment principal = loan principal × monthly interest rate ×( 1+ monthly interest rate) ÷ (repayment month serial number-1) ÷ [(1+monthly interest rate) repayment months-1]
Total interest = repayment months × monthly repayment amount-average capital repayment method of loan principal:
Monthly payment = (loan principal ÷ repayment months)+(loan principal-accumulated repaid principal amount) × monthly interest rate.
Monthly repayable principal = loan principal ÷ repayment months
Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated amount of repaid principal) × monthly interest rate
Monthly decreasing amount = monthly repayable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate.
Total interest = [(total loan ÷ repayment months+total loan × monthly interest rate)+total loan ÷ repayment months ×( 1+ monthly interest rate)] ÷ 2 × repayment months-total loan.
Monthly interest rate = annual interest rate ÷12 154 =15 ×15 (the fourth power of15, that is, the product of four15).
Interim measures for personal loans
Article 11
Personal loan application shall meet the following conditions:
(a) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;
(2) The purpose of the loan is clear and legal;
(3) The amount, duration and currency of the loan application are reasonable;
(4) The borrower has the willingness and ability to repay;
(5) The borrower's credit status is good and there is no significant bad credit record;
(6) Other conditions required by the lender.