The calculation formula of loan interest is loan interest = principal x time x interest rate.
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.
Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China.
If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease.
There are three factors that determine loan interest: loan amount, loan term and loan interest rate.
How to calculate loan interest
The calculation method of interest is mainly divided into the following four situations: First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate; The second is the conversion of interest rate, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days); Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days). In addition, the use of interest rates should be consistent with the deposit term; 3. Calculation formula of value point: 1, the value point of savings deposit is RMB, and no interest is paid for points below RMB; 2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid; 3. All savings deposits, regardless of the duration, are paid with the principal at the time of withdrawal, excluding compound interest, except that the current savings are settled annually and the interest can be converted into the principal; 4. The calculation of the deposit period is in the interest calculation formula: 1, and the calculation of the deposit period adopts the method of counting the head and tail; 2, regardless of the big month, small month, flat month, leap month, every month is calculated as 30 days, and the whole year is calculated as 360 days; 3. The maturity date of all kinds of deposits shall be calculated on an annual and monthly basis. If the account opening date is the missing date of the expiration month, the expiration date should be the last day of the expiration month.
How to calculate the bank loan interest rate?
1. Monthly interest rate: that is, the interest calculated on a monthly basis. The calculation method is: monthly interest rate = annual interest rate ÷ 12 (month).
2. Daily interest rate: The daily interest rate is called the daily interest rate and is calculated on a daily basis. The calculation method is: daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
3. Annual interest rate: usually in the form of percentage of principal, interest is calculated annually. Calculation method: annual interest rate = interest ÷ principal ÷ time × 100%.
4. Annualized interest rate: refers to the interest rate at which the inherent rate of return of products is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the yield of a wealth management product is one year and the yield is B, the annualized interest rate R is calculated as R=( 1B)A- 1.
5. Calculation formula of equal principal and interest: [loan principal × monthly interest rate× (1interest rate) repayment months] ÷ repayment months [( 1 interest rate) repayment months-1]
6. Calculation formula of average fund: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.
Extended information:
Bank loan refers to an economic behavior in which banks lend funds to people in need at a certain interest rate according to national policies and agree to return them within a specified time limit. Generally, you need a guarantee, a house mortgage, or proof of income, and your personal credit information is good before you can apply.
Moreover, in different countries and different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan quotas, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans are mostly in the form of discounted bills, credit accounts and overdraft accounts.
According to different classification standards, there are different types of bank loans. For example:
1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;
2. According to different repayment methods, it can be divided into demand loans, term loans and overdrafts;
3. According to the purpose or object of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans and securities broker loans.
4. According to the different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan and credit loan.
5. According to the loan amount, it can be divided into wholesale loans and retail loans;
6. According to the different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.
Short-term loans refer to loans with a loan term of 1 year (inclusive). Short-term loans are generally used for the liquidity needs of the borrower's production and operation.
The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of short-term working capital loans is generally about half a year, and the longest is no more than one year; Short-term loans can only be extended once, and the extension period cannot exceed the original period.
The loan interest rate is determined according to the interest rate policy formulated by the People's Bank of China and the floating range of the loan interest rate, as well as the nature, currency, use, method, term and risk of the loan, among which the foreign exchange loan interest rate is divided into floating interest rate and fixed interest rate. The loan interest rate is indicated in the loan contract, which customers can check when applying for a loan. Overdue loans will be punished according to regulations.
The advantages of short-term loans are relatively low interest rates and relatively stable capital supply and repayment. The disadvantage is that it cannot meet the long-term capital needs of enterprises. At the same time, because short-term loans use fixed interest rates, the interests of enterprises may be affected by interest rate fluctuations.
How to calculate the interest on bank loans?
Bank loan interest will be comprehensively evaluated according to loan types, credit status, guarantee methods and other factors, and then float on the benchmark interest rate announced by the central bank.
First, the central bank's benchmark interest rate for RMB loans:
Within 1 and 1 year (inclusive), the annual interest rate is 4.35%.
2. 1-5 years (inclusive), with an annual interest rate of 4.75%.
3, more than 5 years, the annual interest rate is 4.9%.
Second, the calculation method of bank loan interest, the average capital repayment method, is based on the average distribution of the total loan principal to each repayment period, and the interest is calculated according to the remaining arrears.
1, monthly payment = (loan principal ÷ repayment months) (loan principal-accumulated repaid principal amount) × monthly interest rate;
2. Monthly repayable principal = loan principal ÷ repayment months;
3. Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment amount) × monthly interest rate;
4. Decreasing monthly payment = monthly repayable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate;
5. Total interest = [(total loans ÷ repayment months × monthly interest rate) total loans ÷ repayment months ×(65438+ 10 monthly interest rate)] ÷ 2 × repayment months-total loans;
6. Monthly interest rate = annual interest rate ÷ 12.
Precautions:
1, the level of bank loan interest is very important, so you should choose the bank loan that suits you according to your own economic strength.
At the same time, you can also calculate the monthly repayment amount when you apply for a loan in the future, so that you can plan the loan amount reasonably according to your own situation.
How to calculate the interest on bank loans?
1. How to calculate the loan interest of the bank?
Bank loan refers to an economic behavior that banks lend funds to people in need of funds at a certain interest rate according to national policies and return them within the agreed time limit. Generally, you need a guarantee, a house mortgage, proof of income and good personal credit information before you can apply. Moreover, in different countries and different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan limits, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans mostly take the form of discounted bills, credit accounts and overdraft accounts. Calculation method of bank loan interest:
1, and the loan time is within 1 year (inclusive): interest = principal × loan time × 4.35%;
2. Loan time 1 -5 years (including 5 years): interest = principal × loan time × 4.75%;
3. The loan time is more than 5 years: interest = principal × loan time ×4.9%.
Second, how to calculate the interest on bank loans to buy a house?
(1) is calculated by repayment method.
1, equal principal and interest method
Calculation formula: monthly repayment amount = monthly interest rate of principal [(65438+ 10 interest rate) n/[(65438+ 10 interest rate) n-1]; Where n represents the number of months of loan, and n represents the power of n, such as 240, representing the power of 240 (20 years and 240 months of loan); Monthly interest rate = annual interest rate/12; Total interest = monthly repayment amount-loan months-principal; After calculation, the monthly repayment amount is 5343.38 yuan (the same every month). The total repayment amount is128241.20 yuan, and the total interest amount is 58241.20 yuan.
2. The law of average capital
Calculation formula: monthly repayment amount = principal /n monthly interest rate of remaining principal; Total interest = monthly interest rate of principal (loan months/20.5); After calculation, the repayment amount in the first month is 6883.33 yuan (decreasing month by month, and the repayment amount in the last month is 2933.438+09 yuan). The total repayment amount is 1 177983.33 yuan, and the total interest amount is 477983.33 yuan.
3. Free repayment
Free repayment means that when you apply for a housing provident fund loan, the housing provident fund management party gives a repayment amount according to the amount and duration of your loan. In the future, on the premise that the monthly repayment amount is not lower than this repayment amount, you can freely arrange the repayment method of the monthly repayment amount according to your own economic situation.
(B) the method of determining the loan interest
1, provident fund loan
The interest rate of provident fund loans is 3.25%, and everyone likes low interest rates. However, the provident fund loan process is complex and the loan time is long, which will be restricted by many developers. In addition, it is very important that the amount of provident fund loans is limited.
2. Portfolio loan
Portfolio loan refers to the simultaneous use of provident fund loans and commercial loans. Part of the provident fund loan is implemented according to the interest rate of the provident fund loan, and part of the commercial loan is implemented according to the interest rate of the commercial loan. The interest rate of portfolio loans is higher than provident fund loans, but lower than commercial loans.
3. Commercial loans
Commercial loans are loans based on the benchmark interest rate issued by banks, and banks will fluctuate, with concessions and increases. This kind of loan is more common, but the disadvantage is that the loan interest rate is higher. The general commercial loan interest rate is 4.9%.
Third, the bank loan approval process
1, loan application
(1) Basic information of the borrower and guarantor;
(2) the financial report of the previous year approved by the financial department or accounting (auditing) firm, and the financial report of the previous period of applying for a loan;
(3) the correction of the original unreasonable loan;
(4) List of collateral and pledge, the consent certificate of the person who has the right to dispose of the collateral and pledge, and the relevant certificates that the guarantor intends to agree to guarantee;
(5) Project proposal and feasibility report;
(six) other relevant materials that the credit cooperatives think need to be provided;
2. Credit rating evaluation, in which credit cooperatives evaluate the credit rating of borrowers;
3, loan investigation, credit cooperatives to investigate the borrower's legitimacy, safety, profitability and so on;
4, loan approval, credit cooperatives according to the loan management system of loan separation and grading approval for loan approval;
5. Sign a contract, and the credit cooperative signs a loan contract with the borrower;
6, loans, credit cooperatives in accordance with the provisions of the loan contract loans;
7. Post-loan inspection: the credit cooperative conducts follow-up investigation and inspection on the borrower's performance of the loan contract and operation;
8. Loan repayment. When the loan expires, the borrower will repay the loan principal and interest in full and on time.