The basic formula for calculating interest of insurance loans in Hong Zhong is: interest is equal to the principal multiplied by the deposit period multiplied by the interest rate. The policy loan interest rate in Hong Zhong is 5%. It mainly depends on the amount of your loan, and the interest can be calculated by the above calculation method.

How much is the interest on the policy loan?

Policy loan is a loan obtained from an insurance company with the cash value of the policy as the guarantee. So, what's the interest rate of the policy loan? The interest rate of policy loans is different from that of commercial bank loans. Mainly compares the interest rate of two-year resident time deposit issued by the People's Bank of China on the first business day of each month with 2.5%, and then adds 2.0% to calculate on a larger basis. Because the benchmark interest rate for two-year deposits announced by the central bank is 2. 1%, the interest rate for policy loans is generally around 5.5%. However, different types of insurance and companies will have different policy loan interest rates. Please consult the staff of the insurance company for specific loan interest rates. If you need a short term, you can apply for a policy loan. However, when applying for a policy loan, it should be noted that the premise of a policy loan is that it has been insured for more than two years and the insurance account has cash value. Usually, the loan amount provided by the insurance company is about 70% to 80% of the cash value of the policy.

How much is the interest on Ping An policy loan?

Ping An Bank's policy loan has an annual interest rate of 4.25%, and the specific interest is related to the loan amount and loan term. If it is a policy loan, you can get 80% of the cash value and the interest rate is 5.6%. If it is a safe and easy loan, the interest rate is very high, with a monthly interest rate of 2.3% and an annual interest rate close to 30%. Data development interest is the use fee of money in a certain period of time, which refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit. 1. Money other than the principal of deposit and loan (different from "principal"). 2. The abstract interest point refers to the appreciation when monetary funds are injected and returned to the real economy. Generally speaking, interest is the reward paid by the borrower (debtor) to the lender (creditor) for using the borrowed money or capital. Also known as daughter gold, mother gold (main) symmetry. The calculation formula of interest is: interest = principal × interest rate × deposit period (i.e. time). Interest is the reward for the owner of the fund to lend the fund, which comes from a part of the profits formed by the producer using the fund to perform business functions. Refers to the value-added amount brought by the injection and return of monetary funds to the real economy. The calculation formula is: interest = principal × interest rate × deposit period × 100%. 3. According to the nature of banking business, bank interest can be divided into bank interest receivable and bank interest payable. Interest receivable refers to the remuneration obtained by the bank from the borrower by issuing funds to the borrower; It is the price that the borrower must pay when using the funds; It is also part of the bank's profits. Interest payable refers to the remuneration paid to depositors by banks to absorb deposits; It is the price that banks must pay to absorb deposits, and it is also part of the cost of banks. Interest rate is the basis of calculating interest amount and an important lever to adjust economic development. For money lenders, it means income, and for money users, it means cost.

So much for the introduction of how to calculate the interest of insurance loans.