Installment loan is a loan that the bank allows the borrower to repay in installments within a certain period of time. When issuing such loans, banks must investigate the borrower's financial situation and repayment ability, and at the same time, they must determine the time of repayment in installments, the amount of repayment in each installment and the calculation method of interest in the loan contract. For example, a bank issues an installment loan of 6.5438+0.2 million yuan, which is paid at the beginning of the year, recovered at the end of the month, and settled at the end of the year.
For the borrower, this method not only meets the demand for a large sum of money, but also reduces the interest burden of installment repayment. For banks, it not only provides loans, increases income, but also speeds up the turnover of loans and reduces the risk of installment repayment. In the past, only a small part of loans in China were granted in this form. With the reform of the credit system, this kind of loan will be popularized in a proper range.
According to the specific repayment methods, installment loans can be divided into complete installment repayment methods and partial installment repayment methods.
1. Full installment repayment means to pay the principal and interest of the loan regularly according to a certain amount, instead of paying the principal and interest in one lump sum on the maturity date; It can make the lender reduce the risk caused by the borrower's inability to repay the loan at maturity.
Two, the partial installment repayment method refers to the equal installment repayment of part of the loan, the rest of the loan installment payment, one-time payment.
Calculation of annual repayment amount R: principal = R×(N-year annuity present value coefficient), where R= principal /(N-year annuity present value coefficient).
Determination of principal part and interest part in annual repayment: interest part = principal balance at the beginning of the year × interest rate, principal part = annual repayment-interest part.
Installment loan is one of the financial management projects in official website. Huiyoufang installment loan series products refer to the factoring company's short-term transfer of its accounts receivable creditor's rights to large-scale housing enterprises through foreign exchange financing platform. After the buyer pays the down payment, he applies to the developer for installment loan to buy the house, forming accounts receivable.
This kind of debt receivable has a stable repayment rate and a very low default rate. Factoring companies buy back creditor's rights at maturity, and large housing enterprises provide guarantees for creditor's rights, which makes the series of products of Huiyoufang installment loans more secure. The source of repayment is guaranteed, and the purchaser needs to be audited and scored by the personal credit information system, and the accounts receivable information and transaction data are true and transparent.