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 loan interest formula
Interest rate = interest/principal/time × 100%
For example: deposit 100 yuan,
The bank promised to pay an annual interest rate of 4.2%
Then the bank will pay 4.2 yuan interest in the second year.
The calculation formula is 100×4.2%=4.2 yuan.
The formula is: interest rate = interest ÷ principal ÷ time × 100%.
Interest = principal × interest rate× time
= 100×4.2%=4.2 yuan.
The final withdrawal 104.2= 104.2 yuan.
Extended data
Matters needing attention
1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room for it and not affecting your normal life.
2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month following the initiation of the loan, the lending time of the next month is usually the repayment date. Don't default on the penalty interest because of your negligence, so that the bank can't approve the loan application again.
4. Take care of your contract and receipt, read the terms of the contract carefully, and know your rights and obligations.
How to calculate loan interest
Interest = principal × interest rate× loan term
As you said, the loan is 200,000 yuan, with the monthly interest rate of 0.7 1% and the monthly interest payable of 2,000,000.71%1=1420 yuan.
The annual interest rate is 0.71%12 = 8.521%.
The loan is 200,000 yuan, the term is 1 year, the annual interest rate is 8.52 1%, and the annual interest is 200,000 yuan 8.52 1% 1 year = 17042 yuan.
The interest rate of savings deposits shall be stipulated by the state and promulgated by the People's Bank of China. Interest rate, also known as interest rate, is the ratio of interest to principal in a certain date, which is generally divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth and the daily interest rate is expressed as one thousandth. If the annual interest rate of 9% is written as 0.9%, that is to say, every thousand yuan deposit will get the regular annual interest rate of 9 yuan, and the monthly interest rate of 6% is written as 6‰, that is, the monthly interest rate of every thousand yuan deposit is written as 6 yuan, and the daily interest rate of 1.5‰ is written as1,that is, the daily interest rate of every thousand yuan deposit is 65438+50 0 yuan. At present, savings deposits in China are listed at the monthly interest rate. In order to facilitate interest calculation, three kinds of interest rates can be converted, and the conversion formula is: annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
The interest calculation formula 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;
III. Starting point of interest calculation formula, 1, starting point of interest 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. Except for current savings, which are settled on an annual basis and interest can be converted into principal, all other savings deposits, regardless of the duration, are paid with the principal at the time of withdrawal, excluding compound interest;
Fourth, the calculation of the deposit period is in the interest calculation formula, 1, and the calculation of the deposit period adopts the method of not counting the first number and the last number; 2. Every month is counted as 30 days, regardless of big month, small month, flat month and leap month, and every year is counted as 360 days. 3. The maturity date of all kinds of deposits shall be calculated annually and monthly. If the account opening date is the missing date of the due month, the last day of the due month is the due date.
1. When calculating interest, the number of days of deposit is calculated at the beginning, not at the end, that is, from the date of deposit to the day before withdrawal;
2, regardless of leap year, average year, regardless of the size of the month, 360 days a year, 30 days a month;
3. Calculated by year, month and day, the maturity date of various time deposits shall be subject to year, month and day. That is, from the deposit date to the same day of the following year is a pair of years, and the deposit date to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if you don't work on legal holidays, you can withdraw one day in advance and calculate interest at maturity. The procedure is the same as that of early withdrawal.
The calculation formula of interest: principal × annual interest rate (percentage) × deposit period.
If the interest tax is X (1-5%)
Total principal and interest = principal interest
The calculation formula of accrued interest is: accrued interest = principal × interest rate × time.
Accrued interest shall be accurate to two decimal places, and the number of interest-bearing days shall be calculated according to the actual holding days.
PS: The deposit period should correspond to the interest rate, not necessarily the annual interest rate, but also the daily interest rate and the monthly interest rate.
I. Basic formula for calculating interest The basic formula for calculating interest on savings deposits is: interest = principal × deposit period × interest rate.
II. Conversion of Interest Rate 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 (days); 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). Pay attention to the consistency with the deposit period when using interest rates.
Third, the starting point of interest calculation
1. The value point of the savings deposit is RMB yuan, and no interest is paid for the points below RMB yuan.
2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid.
3. Except that the current savings are settled on an annual basis and the interest can be converted into principal, regardless of the deposit period, the interest of other savings deposits will be paid off with the principal at the time of withdrawal, excluding compound interest.
IV. Calculation of Deposit Term
1, the term of deposit should be calculated at the beginning rather than at the end.
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.
Five, the calculation of foreign currency savings deposit interest, foreign currency savings deposit interest rate in accordance with the interest rate announced by the People's Bank of China, the original currency savings, the original currency interest (secondary currency can be converted into RMB according to the foreign exchange rate of the day to pay). Its interest-bearing provisions and calculation methods are compared with RMB deposit methods.