1. Monthly interest rate: 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. Average fund calculation formula: 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.
What is the calculation formula of loan interest rate?
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.
Calculation formula of loan interest rate
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 the interest formula of loan interest rate
Now loans have become more and more popular, because it allows people to spend in advance and repay in installments later, greatly reducing the economic burden. In this process, only some loan costs need to be properly paid, and the amount of this loan cost needs to be calculated by the loan interest rate. So, what is the formula for calculating the loan interest rate? Let's take a look together.
I. Calculation formula of loan interest rate
1, daily interest rate = monthly interest rate /30 days = annual interest rate /360 days;
2. Monthly interest rate = daily interest rate for 30 days = annual interest rate/12 months;
3. Annual interest rate = monthly interest rate 12 months = daily interest rate of 360 days;
4. Interest = loan principal loan interest rate loan term;
5. Under the average capital method, interest = the loan interest rate of the remaining principal to be repaid;
6. Under the equal principal and interest method,
Monthly interest = the monthly interest rate of the remaining loan principal.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 interest rate) repayment months ]≤[( 1 interest rate) repayment months-1],
If the repayment period is 6 and the monthly interest rate is 1%, then (11%) 6 =1.01.0165438.
Second, for example.
Assuming that the loan principal is 6000 yuan, the loan term is 6 months, and the monthly interest rate is 1%, then:
1, average capital model
Monthly repayment amount =6000/6= 1000 yuan,
The first month loan interest =6000 1%=60 yuan;
The loan interest of the next month = (6000-1000)1%= 50 yuan;
Third month interest =(6000-2000) 1%=40 yuan;
The fourth month interest =(6000-3000) 1%=30 yuan;
The fifth month interest =(6000-4000) 1%=20 yuan;
Interest of the 6th month = (6000-5000)1%=10 yuan.
2. Under the equal principal and interest method
Monthly repayment amount = (60001%1.06)/(1.06-1) =1035.29 yuan,
The first month loan interest =6000 1%=60 yuan, and the remaining loan principal = 6000-(1035.29-60) = 5024.71yuan;
The loan interest of the next month is 5024.711%= 50.25 yuan, and the remaining loan principal is 5024.71-(1035.29-50.25) = 4039.67 yuan;
Conversely, the interest of the sixth month = 10.25 yuan.
The above is about the "loan interest rate calculation formula", I hope it can help you.