For a bank loan of RMB 300,000, if you apply for a consumer credit loan, the annual interest rate will generally be around 7.8%, calculated based on the periodic interest repayment method.

The interest for one year is 23,400 yuan.

In addition, if it is a bank mortgage, the repayment method is different, divided into equal amounts of principal and interest and equal amounts of principal. The loan is 300,000 yuan. Based on an annual interest rate of 5.39% and a loan period of 10 years, the equal amount of principal and interest is 88,735.32 yuan. , the equal principal and interest amount is 81523.75 yuan.

How is bank loan interest rate calculated?

1. What is loan interest rate?

my country's loan interest rates are uniformly managed by the People's Bank of China, and the interest rates determined by the People's Bank of China are implemented after approval by the State Council.

The level of loan interest rates directly determines the distribution ratio of profits between borrowing companies and banks, thus affecting the economic interests of both borrowers and lenders. Loan interest rates vary depending on the type and term of the loan, and are also linked to the scarcity of borrowed funds.

(1) Legal interest rates:

The various interest rates approved by the State Council and set by the People's Bank of China authorized by the State Council are legal interest rates. The head office of the People's Bank of China is responsible for the announcement and implementation of legal interest rates.

(2) Benchmark interest rate:

The deposit and loan interest rates of the People's Bank of China for commercial banks and other financial institutions are the benchmark interest rates. The base interest rate is determined by the Head Office of the People's Bank of China.

(3) Contract interest rate:

The lender shall agree with the borrower in accordance with the legal loan interest rate and the floating range stipulated by the People's Bank of China, and shall state in the loan contract The interest rate for a specific loan stated in the loan.

2. How to calculate the loan interest rate?

Loan interest rate is a type of bank interest rate, which is generally higher than deposit interest rate. The difference between the two is the main source of bank profits.

3. How to calculate the monthly interest rate of bank loans? How is monthly interest calculated?

According to the editor’s understanding, the monthly interest rate for bank loans is the annual interest rate divided by 12. For example, the current benchmark interest rate for loans over five years is 4.90%. If you divide this by 12 months, the monthly interest rate is approximately 0.41%.

Take the ICBC loan interest rate as an example. Assume that Mr. Sun takes a loan of 100,000 yuan with a term of 6 months. The repayment method is monthly interest payment and principal repayment upon maturity. The annual interest rate is 9.00%. Then:

Monthly interest rate: 9.00%÷12＝0.75%

Monthly interest rate: 100000×0.75%＝750 (yuan)

Monthly interest rate is 750 yuan , which is 4,500 yuan for 6 months. In other words, Mr. Sun needs to pay interest of 750 yuan per month, which is 4,500 yuan per month, and the principal and interest total is 104,500 yuan. What needs to be understood is that the repayment method has a direct impact on the monthly interest. Different repayment methods require different monthly interest.

3. Calculation method of mortgage interest rate

Mortgage interest is a kind of principal interest paid by home buyers according to the interest rate specified by the bank when they borrow money from the bank.

Interest calculation formula: Interest = principal × interest rate × deposit term (time).

The calculation of mortgage interest will vary depending on the loan method and mortgage repayment method. According to different mortgage repayment methods, mortgage interest calculation can be divided into two calculation methods: equal principal and interest and equal principal.

1. Calculation formula for equal amounts of principal and interest

Calculation principle: The bank first collects the interest on the remaining principal from the monthly payment, and then the principal; the interest is included in the monthly payment. The proportion of the principal in the monthly payment decreases as the remaining principal decreases, and the proportion of the principal in the monthly payment increases due to the increase, but the total monthly payment remains unchanged.

Note: The maximum amount of provident fund loans in various cities should be considered based on local conditions. For residents who have purchased a house with a loan but the per capita area is lower than the local average and then apply to buy a second ordinary self-owned house, the preferential policies for purchasing an ordinary self-owned house with a first loan will be implemented accordingly.

2. Calculation formula for equal amounts of principal

Monthly repayment = monthly principal + monthly principal and interest; monthly principal = principal/month of repayment;

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Monthly principal and interest = (principal - total accumulated repayment) X monthly interest rate.

Calculation principle: The principal amount returned every month remains unchanged, and the interest will decrease as the remaining principal decreases