Many times, when we are short of money, we will ask our friends to help us borrow some money, but every time we borrow money, you will owe your friends a favor. With the popularity of internet finance, many of us will choose different types of loan products to borrow money online, but many people don't know how to distinguish reliable products. Recently, a product is very popular, that is, payment by letter. So how to calculate the interest of happiness loan? Let's take a closer look.

First, how to calculate the interest on happiness loans?

The loan interest rate: 1 -3 years, and the monthly interest rate is about 0.5%-0.55%.

Second, what are the requirements for happiness loans?

Take Beijing as an example:

Age requirements: 23-55 years old;

Marriage requirements: you must be married, and both husband and wife work in Beijing and sign together;

Regional restrictions: only applications from local people are accepted;

Income requirements: the salary of husband and wife is * * * 8,000 yuan, or the salary of civil servants, institutions, large state-owned enterprises, Fortune 500 companies and listed companies is more than 8,000 yuan;

Other requirements: continuous payment of local social security or provident fund 1 year, and the payment base of foreign men is above 5000;

Credit requirements: good credit, no bad overdue, accepting credit blank people.

Third, how to calculate the interest on bank loans?

Calculation formula of equal principal and interest:

[loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]=[( 1+ monthly interest rate) repayment months-1]

Average capital calculation formula:

Monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate, where the symbol represents power.

For example, suppose the principal is 10000 yuan, the bank loan is 10 year, and the benchmark interest rate is 6.65%, and compare the differences between the two loan methods.

To sum up, the monthly interest rate of happiness loan is about 0.5%~0.55%, and the loan interest is generally paid off in 1~3 years. The loan requirement of Happiness Loan is that both husband and wife are married and working locally, and both parties need to sign it. If both husband and wife are civil servants, state-owned enterprises or Fortune 500 enterprises, social security and provident fund should be completed for one year. If it is a foreigner, the male payment base must be above 5,000 yuan, the credit demand is good, and there is no bad expected behavior.