Annualized interest rate refers to the interest rate discounted to the whole year through the inherent rate of return of products.
On March 3, 20021March 3 1 day, the People's Bank of China issued an announcement to make relevant provisions on the annualized interest rate of loan products.
Assuming that the yield period of a wealth management product is one year and the total yield is B, then the annualized interest rate is R.
R=( 1+b) minus 1.
When marketing through websites, mobile phone applications, posters and other channels, institutions engaged in loan business should show the annualized interest rate to borrowers in an obvious way. Institutions engaged in loan business include, but are not limited to, deposit-taking financial institutions, auto finance companies, consumer finance companies, microfinance companies and Internet platforms that provide advertising or display platforms for loan business.
The annualized loan interest rate is calculated according to the ratio of all loan fees charged by the borrower to the actual loan principal, and converted into annualized form. The annualized loan interest rate can be calculated by compound interest or simple interest method: compound interest is calculated by internal rate of return; If the simple interest calculation method is adopted, it should be explained that it is simple interest.
Discount is a commercial term, which refers to the unexpired commercial acceptance bill or bank acceptance bill issued by the payer, accepted by the acceptor and then transferred to the transferee (holder). The transferee (holder) applies to a financial institution such as a bank to realize the bill, and the bank and other financial institutions deduct the interest from the discount date to the maturity date of the bill according to the par value, and pay the balance to the holder (payee). When a commercial bill expires, the ultimate holder will collect money from the acceptor according to the bill.
After a forward bill is issued, the holder transfers it in the discount market before the bill expires, and the transferee pays the money to the transferor after deducting the discount interest, or the bank purchases the unexpired bill.
(1) An enterprise legal person or other economic organization that has opened a settlement account at present;
(2) Having a real commodity trading relationship with the drawer or immediate predecessor;
(3) It can provide the VAT invoice between it and its immediate predecessor (except that VAT invoices cannot be issued according to regulations) and a copy of the cargo shipping documents.
Commercial application conditions
1, the bill is true, and the record conforms to the provisions of the Payment and Settlement Measures;
2. There is a real commodity trading relationship between the ticket-holding enterprise and the original enterprise;
3. To apply for the discount of commercial acceptance bills, the issuing enterprise shall meet the credit conditions for the discount of commercial bills of our bank;
4. Ticket-holding enterprises sign discount repurchase business with banks (regular or irregular agreements);
5. The ticket-holding enterprise opens a deposit account in the bank.