Loans can be mortgaged (real estate, etc.). ), or through secured loans, the latter loan amount is smaller. Generally, the interest of bank loans is compounded monthly. There are two ways to repay by installments, one is equal principal and interest, and the other is average capital. In the short term, you can also repay the principal and interest in one lump sum, 60,000 yuan for one year (12 months). According to the current one-year loan annual interest rate of 5.3 1% (monthly interest rate: 5.31%12 = 0.4425%), the principal and interest will be repaid in one lump sum, and the total principal and interest will be 0,000 (10.4425%)1. The calculation is as follows: ten thousand yuan 1 year (12 months), and the monthly repayment amount: [600000.4425% (10.4425%)12]/[(10.4444). 1 year (12), the monthly repayment principal remains unchanged: 60000/ 12=5000 yuan, the first month repayment = the first month principal, and the first month interest: the repayment amount: 500060000.4225% = 5253.50. 0.4225%=5232.38 Third month repayment: 5000 (60000-50002) 0.4225% = 5211.25, and so on. Nth month repayment: 5000 [60000-5000 (n-65438+) 5265.5 months, 5243.38 months, 522 1.25 months, 5 199. 13 months.
How to calculate the loan interest rate?
The simplest way to calculate the interest rate is to calculate the total repayment amount first, and the monthly repayment period is 12 months, and then subtract the total repayment amount from the total loan amount to get the interest. Interest = principal interest rate. So the interest rate equals the total interest/loan.
Interest rates of different loan channels
1, credit card cash installment or cash-out: credit card holders often think of borrowing money or cash-out with their own credit cards. First of all, cashing is brushed out by some methods and requires a handling fee. Ten thousand yuan is about 60 yuan to 80 yuan. If the interest rate is calculated by stages, it will be at least above 10%.
2. Mortgage loan: At present, the interest rate of bank mortgage loan is basically between 6% and 8% according to local policies and bank policies. However, we still need collateral that meets the requirements, and we need to go through various procedures, which is more troublesome.
3. Bank credit loans: At present, many banks also provide various mobile phone credit loans, with annual interest rates ranging from 8% to 14%, which will be slightly different according to product attributes. In addition, with some repayment methods, the interest is about 15%.
4. Our company: There are already many loan companies with extremely low thresholds in the market. They only need to provide basic personal information, and they can provide loans ranging from thousands to hundreds of thousands. Low threshold will inevitably lead to high interest, and interest plus various handling fees is basically around 24%.
5. Small loan platforms: JD.COM Gold Bar, Bai Jie, Microfinance, Wanda Loan and other formal and reliable platforms all bear interest on a daily basis. The daily interest rate is about 0.05%, and the calculated annual interest rate is about 18%. There are also some mobile phone loan platforms with even higher interest rates, mostly around 36%, and the annual interest rate of some illegal online loans can even be as high as 200%.
Simple interest and compound interest
Single interest rate means that the principal is generally fixed, and the interest is settled at one time when it expires, and the interest generated by the principal is not included in the next principal. The calculation formula of single interest rate is: principal (1 interest rate term). Simple interest is different from compound interest. Compound interest is actually a kind of interest-bearing deposit, which uses the principal and interest of the previous period as the principal of the next period, and then calculates the interest circularly. The formula of compound interest is: principal (1 interest rate) _, and n is the deposit term. For example, if the principal is 1 0,000 yuan and the monthly deposit interest rate is 1%, the calculation formula of one-year simple interest and compound interest is:10,000× (1%×12). The formula of compound interest is10000× (11%)12 =11268 yuan.
How to calculate the bank loan interest rate?
Bank loans, everyone is most concerned about the interest rate of bank loans. Do you know the conversion formula of bank interest rate? Let's take a look at the relevant information of Hualv.com Bian Xiao. If you want to know more about the conversion formula of bank interest rate, you can look at Hualv.com.
1. What is the conversion formula of bank interest rate?
The interest rate conversion formula is (note: general for deposits and loans):
1. daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two. Calculation formula of annual interest rate of bank loans
Banks can use the cumulative interest method and the transaction interest method to calculate interest.
1. product number interest method
The accumulated interest method accumulates the account balance daily according to the actual number of days, and the accumulated amount is multiplied by the daily interest rate to calculate the interest. The interest calculation formula is:
Interest = accumulated interest × daily interest rate, where accumulated interest = total daily balance.
2. Interest calculation method based on 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 × annual (monthly )× annual (monthly) interest rate.
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × fractional days × daily interest rate.
At the same time, banks can choose to convert the interest period into actual days to calculate interest, that is, the calendar days of each year (366 days in leap years) and the calendar days of each month. The interest-bearing formula is:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion only takes 360 days a year. However, when calculating the actual daily interest rate, one year will be used as a calendar day, and the result will be slightly biased. According to which formula, 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. What are the precautions for applying for a bank loan?
1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room for it and not affecting your normal life. 2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month following the initiation of the loan, the lending time of the next month is usually the repayment date. Don't default on the penalty interest because of your negligence, so that the bank can't approve the loan application again.
4. Take care of your contract and receipt, read the terms of the contract carefully, and know your rights and obligations.
How to calculate the loan interest rate?
The calculation formula of loan interest is loan interest = principal x time x interest rate.
Loan interest refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds.
Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China.
If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease.
There are three factors that determine loan interest: loan amount, loan term and loan interest rate.
How to calculate the loan interest rate
Interest rate = interest/principal/time × 100%
For example: deposit 100 yuan,
The bank promised to pay an annual interest rate of 4.2%
Then the bank will pay 4.2 yuan interest in the second year.
The calculation formula is 100×4.2%=4.2 yuan.
The formula is: interest rate = interest ÷ principal ÷ time × 100%.
Interest = principal × interest rate× time
= 100×4.2%=4.2 yuan.
The final withdrawal 104.2= 104.2 yuan.
Extended data
Matters needing attention
1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room for it and not affecting your normal life.
2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month following the initiation of the loan, the lending time of the next month is usually the repayment date. Don't default on the penalty interest because of your negligence, so that the bank can't approve the loan application again.
4. Take care of your contract and receipt, read the terms of the contract carefully, and know your rights and obligations.
How to calculate the loan interest rate?
Calculation formula of loan interest rate
1, daily interest rate = monthly interest rate /30 days = annual interest rate /360 days;
2. Monthly interest rate = daily interest rate for 30 days = annual interest rate/12 months;
3. Annual interest rate = monthly interest rate 12 months = daily interest rate of 360 days;
4. Interest = loan principal loan interest rate loan term;
5. Under the average capital method, interest = the loan interest rate of the remaining principal to be repaid;
6. Under the equal principal and interest method,
Monthly interest = the monthly interest rate of the remaining loan principal.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 interest rate) repayment months ]≤[( 1 interest rate) repayment months-1],
If the repayment period is 6 and the monthly interest rate is 1%, then (11%) 6 =1.01.0165438.