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.
Calculation method of monthly interest on loans
Monthly loan interest = loan principal x monthly interest rate /30 (days) x one month (days of the month)
1. interest calculation method for periodic interest settlement
Regular interest settlement means that the bank calculates the accumulated loan products according to the loan account balance table (the calculation method of loan products is the same as that of deposit products), registers the loan interest-bearing account product table, and calculates the interest at the specified interest rate at the end of business on the 20th of each month or quarter.
The interest-bearing days for regular interest settlement are calculated by calendar days, one day is counted as one day, and the whole year is counted as 365 days or 366 days. Counting from the beginning to the end, that is, from the date of lending to the date of repayment. The interest settlement date should be included in the calculation of the interest settlement date.
Its formula is
Loan interest = accumulated loan interest product × daily interest rate
For example, a bank issued a short-term loan of 200,000 yuan on May 2, assuming that the monthly interest rate is 4‰ and the term is 4 months, then:
① When the bank settles interest on June 20th every quarter, the accrued interest of the loan is:
200,000 yuan ×50 days ×4‰÷30= 1333.33 (yuan)
② When the loan is repaid from June to September 2 in 21year, the accrued interest of the loan is:
200,000× 73× 4 ‰-30 =1946.67 (yuan)
③ If the bank fails to receive the interest of 1333.33 yuan on June 20th, the accrued interest of the loan is:
1333.33 (200001333.33) × 73× 4 ‰ ÷ 30 = 3292.97 (yuan)
2. Debt service method.
It means that when the borrower repays the loan, the bank should calculate the loan interest according to the loan days from the loan date to the day before the repayment date.
When the loan is full, it will be calculated on an annual basis, and when it is full, it will be calculated on a monthly basis, and the fraction of the whole year (month) can be calculated on a daily basis. 360 days a year, 30 days a month, a fraction of a day.
Its calculation formula is:
Loan interest = loan amount × loan days × daily interest rate.
Extended data:
Influencing factors of interest rate:
1, central bank policy
Generally speaking, when the central bank expands the money supply, the total supply in loanable funds will increase, the supply exceeds demand, and the natural interest rate will decrease accordingly; On the contrary, the central bank implements a tight monetary policy, reducing the money supply, so that loanable funds's demand exceeds supply, and interest rates will rise accordingly.
2. Price level
Market interest rate is the sum of real interest rate and inflation rate. When the price level rises, the market interest rate also rises accordingly, otherwise the real interest rate may be negative. At the same time, due to rising prices, the public's willingness to deposit will decrease, while the loan demand of industrial and commercial enterprises will increase. The imbalance between deposit and loan caused by loan demand exceeding loan supply will inevitably lead to an increase in interest rates.
3. Stock and bond markets
If the securities market is on the rise, the market interest rate will rise; On the contrary, interest rates are relatively low.
4. International economic situation
Changes in a country's economic parameters, especially the exchange rate and interest rate, will also affect the fluctuation of interest rates in other countries. Naturally, the rise and fall of the international securities market will also bring risks to the interest rates faced by international banking business.