The calculation of bank loan interest, except for 360 days, is not 365 days: for the convenience of calculation;

There are 12 months every year, and there are only 30 days in a month according to 360 days.

The calculation of bank loan interest, except for 360 days, is not 365 days: for the convenience of calculation; There are 12 months every year, and there are only 30 days in a month according to 360 days.

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There are two algorithms for bank loan interest: 360 days and 365 days;

The annual interest rate of general loans is converted into daily interest rate according to 360 days; The daily loan interest rate is converted into the annual loan interest rate by 365 days.

Article 3 of the Notice of the People's Bank of China on the Calculation and Settlement of RMB Deposit and Loan Interest stipulates that the daily interest rate shall be calculated at the annual interest rate of /360.

The Notice of the People's Bank of China on Adjusting the Conversion Standard of Daily Interest Rate of Bond Repurchase stipulates: "The daily interest rate shall be uniformly converted by dividing the annual interest rate by 365 days. If it is not divisible, four digits shall be reserved after the decimal point, and the fifth digit shall be rounded off. "

The Standard for People's Handling of Enforcement Cases promulgated by the Supreme People's Executive Board on 20 17 stipulates in Item (3) of Article 161 of the book: "If the non-performance period exceeds 1 year, the interest shall be calculated at the annual rate of the benchmark interest rate for the same period every full year, and the interest shall be calculated at the daily rate of the benchmark interest rate for the remaining period.

The daily interest rate is calculated by dividing the annual interest rate of the benchmark loan interest rate by 365 days. "The two notices of the People's Bank of China have two ways to calculate daily interest, which lies in the way of interest settlement.

In the Notice of the People's Bank of China on the Calculation and Settlement of Interest on RMB Deposits and Loans, the businesses specified in the notice are settled quarterly. In the Notice of the People's Bank of China on Adjusting the Conversion Standard of Interest Rate on Bond Repurchase Day, for the inter-bank bond market, the interest period is calculated according to the actual days of bond repurchase.

What is the difference? According to the quarterly interest settlement method, there are four quarters every year. The quarterly interest rate is calculated by multiplying the monthly interest rate by 3, and the monthly interest rate is calculated by the annual interest rate/12. The interest rate is the same every month and quarter, but we know that the number of days in each quarter is different.

If the daily interest rate is calculated according to the annual interest rate /365, then the monthly interest rates of 28, 29, 30, 3 1 are different, and the interest rates of each quarter are different, which will lead to confusion in interest rate calculation.

After calculating the daily interest rate with an annual interest rate of /360 and the monthly interest rate with an annual interest rate of/12, the interest rate can be guaranteed to be the same every quarter and every month, thus avoiding the confusion visible to the naked eye. However, the method of calculating interest according to the actual number of days does not have the above problems. In order to ensure that the annual interest rate is the same as the daily interest rate, the interest rate is calculated at the annual interest rate of /365.

After comparison, we found it difficult to say whether to divide by 365 or 360. Whether it is correct or not depends on the interest settlement method, and the calculation method that matches the real transaction can be said to be correct. In business execution, interest is calculated on a daily basis, so the daily interest rate is calculated by dividing the annual interest rate by 365.

What is the average daily interest rate of online loans?

Nowadays, the Internet is becoming more and more popular. Many friends have plans to choose an online loan platform when they need a loan. But many friends don't know the average daily interest rate of online loans. Let's introduce the relevant situation to you.

The daily interest rate of online loans is generally above 0.03%, but it will basically not exceed 1%. You can know the average daily interest rate of online loans through the following online lending platforms.

1, Ant Borrowing is an official loan product of Alipay, which is provided by Ant Financial, and its interest rate is relatively low, with a daily interest rate of 0.04%. Ants borrow money quickly, and usually pay within one minute.

2. Lending immediately is a loan user platform without upfront costs. The amount is between 800-3000 yuan, with only two installments, and the daily interest rate is 0.05%, without any mortgage or guarantee. Apple has an IOS version, but not an Android version.

3. Loan Xiaoer is also a new platform launched on 20 17, which can provide loans of up to 10000 yuan for loan users. The loan period of the platform is relatively long, and the borrower is allowed to repay within 12 months at most. It is understood that the borrower Xiao Er's daily interest rate is 0.07%.

4. Qianyou Road is a new platform for providing loans to loan users on 20 17. The platform loan amount is between 500-2,000 yuan, with the longest term of 90 days and the shortest term of 0.036%. Anyone who has reached the age of 18 can borrow money from Qianyou Road.

What's the interest rate for bank loans?

The loan interest rate for one year to three years (including three years) is 4.75%, and the loan interest rate for more than five years is 4.9%.

Loan means that banks, credit cooperatives and other institutions lend money to units or individuals who use money, and generally agree on interest and repayment date. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development.

What is the daily interest rate of the loan?

1. The interest rate of bank loans is generally expressed by monthly interest rate and annual interest rate. The formula for converting monthly interest rate and annual interest rate into daily interest rate is: annual interest rate /360= monthly interest rate /30= daily interest rate. Banks have different interest rates for different loans. At present, the benchmark interest rate of one-year commercial loans of banks is 4.35%, and when the benchmark annual interest rate of one-year commercial loans is converted into daily interest rate, it is 4.35%/360=0.0 12%.

Second, the daily interest rate is the interest calculated on a daily basis, expressed as a few ten thousandths of the principal, usually called the daily interest rate as a few cents. If the daily interest rate is 1%, that is, the principal is 1 yuan and the daily interest rate is 1%.

1, calculation formula

Daily interest rate = annual interest rate ÷360= monthly interest rate ÷30

2. Conversion formula of daily interest rate, annual interest rate and monthly interest rate:

Daily interest rate (0/000)= annual interest rate (0/0) ÷ 360;

Monthly interest rate (0/00)= annual interest rate (0/0)÷ 12.

Monthly interest rate = daily interest rate ×30

Annual interest rate = monthly interest rate × 12

Interest = interest product × daily interest rate.

Third, the actual loan interest rate of the bank is usually the final result of the agreement reached between the lender and the bank. Within the floating range allowed by the central bank, the final loan interest rate given by the bank will vary according to the loan term, loan purpose and loan collateral. And the interest rate of loans executed by the same bank in different regions and different time periods may also change, so the actual interest rate of loans should be based on the final agreement reached with the bank.

Importance of interest rate:

1. Expressively, interest rate refers to the ratio of interest amount to total loan capital in a certain period. Interest rate is the interest level of unit currency in unit time, indicating the amount of interest.

2. Economists have been trying to find a set of theories that can fully explain the structure and changes of interest rates. Interest rates are usually controlled by the national central bank and managed by the US Federal Reserve. So far, all countries regard interest rate as one of the important tools of macro-control.

3. When the economy is overheated and inflation rises, interest rates will be raised and credit will be tightened; When the economy is overheated and inflation is controlled, interest rates will be lowered appropriately. Therefore, interest rate is one of the important basic economic factors. Interest rate is an important financial variable in economics, and almost all financial phenomena and financial assets are related to interest rate to some extent.

4. At present, countries all over the world frequently use interest rate leverage to implement macro-control. The interest rate policy has become the main means for the central bank to adjust the supply and demand of money, and then adjust the economy. Interest rate policy plays an increasingly important role in the monetary policy of the central bank.