The annual interest rate of bank loans is 3.85%. If the calculation method of one-time repayment of principal and interest is adopted, the loan interest is the loan principal *3.85%* loan term (year). However, if you use equal principal and interest or equal principal repayment, because the formula is complicated, we will not write the formula here for the time being, and users can use the calculator provided online to calculate the corresponding interest.
In short, the loan interest rate of 3.85% is a low loan interest rate, and the bank loan can be obtained at this interest rate, which shows that the credit qualification conditions of users are excellent.
The calculation method of annual interest rate is: interest = annual interest rate * deposit amount * years. If you deposit 654.38+00000 yuan in the bank for two years with an annual interest rate of 3.85%, the interest after two years will be 770 yuan, and the total principal and interest will be 654.38+00770. However, if you deposit for a fixed period of one year, you can enjoy compound interest, with the interest of 385 yuan in the first year and 399.8 yuan in the second year, and the principal plus interest 10784.8. The daily interest rate is usually expressed as a few ten thousandths of the principal, calculated on a daily basis. The specific calculation formula is: daily interest rate = annual interest rate +360= monthly interest rate+30; The monthly interest rate is expressed as a few thousandths of the principal, and the interest is calculated monthly. The specific calculation formula is: monthly interest rate = annual interest rate+12= daily interest rate *30.
For example, the daily interest rate of a loan product is five ten thousandths, which means the daily interest rate is 0.05%. If it is calculated as 30 days a month and 360 days a year. Then, its monthly interest rate is 0.05%*30= 1.5%, and its annual interest rate is1.5% *12 =18%.
For most people, interest rate is not only the cost of loan, but also the reference of deposit income. So, whether it's a loan or a deposit. Users must know its daily, monthly and annual interest rates. Then, according to your own judgment, decide whether to borrow or deposit.
In addition, some private lending interests also need users' attention. Some interest here refers to the monthly interest. For example, the interest of 2 cents means the monthly interest rate is 2%, and the annual interest rate is 2%* 12= 24%. The user borrows 10000 yuan, and the interest is 2400 yuan a year.
China people's bank loan benchmark interest rate:
(1) Short-term loan: within one year (including one year), and the adjusted interest rate is 4.35.
(2) Medium and long-term loans: the adjusted interest rate is 4.75 for one to five years (including five years); The adjusted interest rate for more than five years is 4.90.
(3) Personal housing provident fund loan: the adjusted interest rate is 2.75 for less than five years (including five years); The adjusted interest rate for more than five years is 3.25.
On the loan interest rates of the six major banks:
1. Industrial and Commercial Bank of China
ICBC, the interest rate of short-term loans (within six months, including six months) is 4.35%; The loan interest rate for half a year to one year (including one year) is 4.35%. The loan interest rate for one year to three years (including three years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
If it is a provident fund loan, the loan interest rate for less than five years (including five years) is 2.75%; The loan interest rate for more than five years is 3.25%.
2 Agricultural Bank of China
The short-term loan interest rate of ABC (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%. For individual housing provident fund loans, the loan interest rate for five years and below is 2.75%, and the loan interest rate for five years and above is 3.25%.
3. China People's Bank
The loan interest rate of China Mingren Bank is 4.35% within one year (including one year), 4.75% for one to five years (including five years) and 4.9% for loans over five years. For individual housing provident fund loans, the loan interest rate for five years and below is 2.75%, and the loan interest rate for five years and above is 3.25%.
4. Bank of Communications
The loan interest rate of Bank of Communications is 4.35% within one year (including one year), 4.75% for one to five years (including five years) and 4.9% for loans over five years.
5. China Construction Bank
The short-term loan interest rate of CCB (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%.
6. Postal Savings Bank
Postal savings bank, the loan interest rate (within six months, including six months) is 4.35%; The loan interest rate for one year to five years (including five years) is 4.75%, and the loan interest rate for more than five years is 4.9%.