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How much is the interest on the loan?
it is generally more than 2% of the benchmark interest rate. Interest = [loan principal × monthly interest rate ×(1+ monthly interest rate) repayment months] ÷ [(1+monthly interest rate) repayment months-1]

mortgage loan refers to a repayment mode in which the sum of loan principal and interest is evenly distributed to the monthly repayment amount according to the repayment period, and then deducted by wages or provident fund, which usually appears in provident fund housing loans.

in addition, in order to achieve the loan target, banks sometimes charge off the loan target at the end of the month, the end of the season and the end of the year to ensure the target is completed. During the loan rush period, the loan review is relatively loose, and it is easier to apply for a loan.

The loan rush business mainly controls the risks of the business. Before lending, microfinance companies need to conduct bank surveys to check the authenticity of the credit approval, the conditions for approving the loan amount, the flow of funds and the guarantee conditions. Bank loan-rushing salesmen need to inquire about and observe the production site of the enterprise, as well as check the business qualifications and relevant materials of the enterprise, and also need the area and value of the appropriate business premises. The credit rush business also needs to check the credit information and judicial situation of the enterprise. Lending by a small loan company requires the company's financial personnel to provide the borrower's name, bank, account number and loan amount, as well as to know the company's transfer time and the enterprise's arrival time. When the borrower repays the bank loan, the bank will give the relevant enterprise repayment voucher, return the original enterprise collateral and issue the enterprise loan calculation certificate. Loan rush means that in a specific period of time, banks or loan companies provide loans for enterprises in a centralized manner. Generally, most banks lend money, and part of the funds of microfinance companies also come from banks. During the bank loan rush, enterprises only need to provide real and effective materials.

How to calculate the interest of personal credit loan

How to calculate the interest is related to the repayment method chosen. The common repayment methods are equal principal and interest and average capital. The calculation formula is as follows:

1. Equal principal and interest:

Monthly repayment amount = loan principal × [monthly interest rate× (1+monthly interest rate) repayment months ]÷{[(1+ monthly interest rate) repayment months ]-1}

Total interest = monthly repayment amount * loan months-principal <