5% loan means that the monthly loan interest rate is 0.5%, which translates into an annual interest rate of 0.5%* 12=6%. The loan is 500,000 yuan, with an annual interest rate of 6% and a loan term of one year. The total interest of equal principal and interest repayment is 65,438+06,398.58 yuan, and the total interest of equal principal repayment is 65,438+06, 250 yuan. Interest is calculated differently by different repayment methods. Please take the final repayment interest as the standard.
It means that the interest generated by the principal in one cycle is 5%.
For example, 10000, calculated at the monthly interest rate of 5%: 10000 x 0.5% = 50 yuan, that is, 5% of the monthly interest rate of bank loans is 50 yuan.
If the monthly interest rate of 10000 yuan is 5%, the interest for that year is 600 yuan.
Interest = principal × interest rate× loan time. Loan interest 1 min, specifically annualized interest 1%× 12= 12%, then the annualized actual interest of 1 min is as high as 12%!
What is the percentage? The monthly interest of 1 is the monthly interest of 1%, so the combined interest of 1 can be understood as the monthly interest of 1%. Then according to interest.
Take the loan of 6,543,800 yuan and the loan period of 654.38+0 years as an example.
First, if 5% is the monthly interest rate.
Then the interest generated by borrowing for one month is 50 yuan, and the interest for one year is:10000 * 0.5% *12 = 600 yuan. This 5% monthly interest rate is converted into annualized interest rate, which is 0.5%* 12=6%.
Second, if 5% is the daily interest rate.
If it's daily interest, then you borrow 1 ten thousand yuan, one day's interest is 50 yuan, one month's interest is 1.80%, which means you borrow 1 ten thousand yuan, and the annual interest is 1.800 yuan.
In just one year, the repayment interest is even higher than the principal. This interest rate, whether before or after the new regulations, has seriously exceeded the standard and belongs to usury, which is illegal and illegal.
Therefore, when we borrow money, we should pay attention to it clearly. If you borrow usury, the interest you need to pay will be amazing.
Third, if 5% is the annual interest rate.
If 5% is the annual interest rate, I want to congratulate you. Such a low interest rate is equivalent to lending you money for nothing. The loan is 654.38 million yuan, and the annual interest is only 50 yuan.
After talking about the concept of "5%" interest rate, let's talk about what the daily interest rate is.
The concept of daily interest rate 15000 yuan does not appear in the interest rate accounting of most financial institutions, and it is calculated by percentage.
Generally speaking, some organizations will use this term when promoting marketing products, such as loans and credit cards.
Because this statement is very grounded and easy to understand, it means borrowing 10 thousand yuan to give 5 yuan interest every day.
Daily interest rate 15000 yuan, which is equivalent to 0.05% when converted into daily interest rate; Converted into monthly interest rate, about1.5%; The annualized interest rate is about 18%.
From the above calculation, it can be seen that the interest rate agreed between the borrower and the lending institution will be greatly different due to the different calculation methods such as daily interest rate, monthly interest rate and annual interest rate, which will lead to the final interest payment.
How to calculate the annual interest rate of 5% for a loan of 500 thousand?
The loan principal is 500,000 yuan, with a monthly interest rate of 5%, with a monthly interest rate of 2500,50 * 0.005 = 0.25, and the total interest after one year is 30,000 yuan, with a monthly interest rate of 0.25* 12=3.
500 thousand interest, 5% What is the annual interest rate?
The annual interest is 2500 yuan.
5% refers to the annual interest rate of 0.5%. If 500,000 * 0.5% = 2,500, it can be calculated that the annual interest is 2,500 yuan.
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital.
What's the interest rate of 5% for a 500,000 loan?
This is a 5% one-year loan, which means that the monthly interest rate of the loan is 0.5%, which translates into an annual interest rate of 0.5%* 12=6%. The loan is 500,000 yuan, with an annual interest rate of 6% and a loan term of one year. The total interest of equal principal and interest repayment is 65,438+06,398.58 yuan, and the total interest of equal principal repayment is 65,438+06, 250 yuan. Interest is calculated differently by different repayment methods. Please take the final repayment interest as the standard.
Extended data:
Loan interest refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds.
Both borrowers and borrowers shall collect or pay interest on schedule in accordance with the loan contract and the relevant interest-bearing provisions of the People's Bank of China. When the loan extension period plus the original term reaches the new interest rate grade, it will be charged at the new term grade interest rate from the date of extension. Penalty interest is charged for overdue loans according to regulations.
The loan interest is calculated according to the repayment method. If it is equal principal and interest repayment or equal principal repayment, the loan interest shall be calculated according to the corresponding formula. If the loan product bears interest on a daily basis, the loan principal * daily interest rate * actual borrowing days is the loan interest of the loan. In addition, if the user repays the loan in advance, he can also reduce the loan interest.
When users apply for loans, the total loan interest will generally be directly informed to users. If the user does not accept the loan interest, then the loan application can be abandoned.
Loan interest start time:
Generally, the loan interest is calculated from the date when the customer successfully applies for loan funds, and then the interest is calculated every day according to the actual use days of the loan until the customer pays off the money.
For example, a customer registered an account on an online lending platform on August 5th, and then successfully applied for a loan on the platform, and then paid off the loan on August 5th 15, so he will pay ten days' interest when repaying the loan (August 5th to August 6th 15, generally not counting the head). And if it is lent on August 5 and returned on the same day, it usually costs one day's interest.
Most online loans bear interest on a daily basis, and they are repaid as they are borrowed. If it is a mortgage, the interest is calculated from the date of loan issuance, and the specific calculation method is more complicated than online loan.
The interest of online loan is usually: interest = loan amount × loan daily interest rate × loan days. In case of mortgage, the repayment method of equal principal and interest is adopted, and the monthly repayment amount is: [loan principal× monthly interest rate× (1+monthly interest rate )× repayment months ]⊙[( 1+ monthly interest rate )× repayment months].