(1) The interest rate conversion formula for RMB business is (note: general deposits and loans): 1, daily interest rate (0/000)= annual interest rate (%)360 = monthly interest rate (‰)÷302, and monthly interest rate (‰) = annual interest rate (%) 654; The interest-bearing formula is: interest = accumulated interest-bearing products × daily interest rate, where accumulated interest-bearing products = total daily balance. 2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term. There are three specific methods: if the interest-bearing period is a whole year (month), the interest-bearing formula is: ① interest = principal × years (months) × interest rate; If the interest-bearing period is a whole year (month) and the number of days is decimal, the interest-bearing formula is: ② Interest = principal. Banks can choose to convert the interest period into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest calculation formula is: ③ Interest = principal × actual days × daily interest rate. These three formulas are essentially the same, but because only 360 days are calculated in one year in interest rate conversion, the results will be slightly different when calculating the actual daily interest rate. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract. (3) compound interest, that is, interest is charged at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest. (4) Penalty interest If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the defaulter according to the contract signed with the parties is called penalty interest. (5) The nature of the liquidated damages in loans overdue is the same as the penalty interest, and the penalty measures for the defaulting party. (6) Formulating and filing the interest-bearing settlement rules and methods for deposit and loan business formulated by national commercial banks as legal persons, and reporting them to the head office of China People's Bank for filing and notifying customers; Regional commercial banks and urban credit cooperatives should be reported to the branches of the People's Bank of China and the central branch of the provincial capital for the record, and inform customers; County rural credit cooperatives as legal persons may, according to the actual situation of the county rural credit cooperatives, formulate the rules for interest calculation and settlement and the interest-bearing measures for deposit and loan business, and report them to the branch of the People's Bank of China and the central branch of the provincial capital for the record, and the rural credit cooperatives as legal persons shall notify the customers. Microfinance is also a formal loan business, and we will not be sentenced if we want to handle microfinance. Small loans were sentenced because the parties refused to repay after borrowing small loans, and only if they constituted the crime of loan fraud would they be sentenced. However, when we choose microfinance business, we must also go to a formal bank. It is not a crime to handle small loans normally, so we will not be sentenced.