What aspects should microfinance pay attention to:
1. The fee is charged before the loan is issued. This situation is very unreliable. Don't be deceived if you don't know or understand.
2. Direct lending without audit. Some lawless elements take advantage of the borrower's urgent need for money to deceive the borrower with false information, and lend directly without any information, such as income sources and credit information. Be wary of such institutions and beware of being deceived.
3. Does the lending institution have a business license? If not, it may be an illegal business organization, personal lending, not regulated by the industrial and commercial departments. Therefore, in order to avoid risks, borrowers must go to formal institutions, do not blindly borrow money, and must be vigilant.
1. What is the normal loan interest in the country?
1. The loan interest rate of any lending institution is not arbitrary and needs to be determined according to the benchmark interest rate issued by the central bank. 202 1 the benchmark interest rate of the central bank's one-year loan is 3.85%, and the benchmark interest rate of the five-year loan is 4.65%. Except for mortgage loans and some special loans, few loans have a loan range of five years. According to the national regulations, if the loan interest rate of lending institutions does not exceed 24% of the benchmark interest rate, it is absolutely protected by law. If it exceeds 24% but does not exceed 36%, it shall be decided by the debtor through consultation with the mortgage institution. If the benchmark interest rate exceeds 36%, the excess is not protected by law.
2. Most formal lending institutions will set the loan interest rate between 4.2% and 4.7%, and some lending institutions will set the loan interest rate between 4.2% and 5.2%. That is to say, at 202 1, the normal loan interest of the country will not exceed these two ranges. If the user applies for mortgage or other long-term loans, then it needs to be calculated according to the five-year benchmark interest rate. Finally, I need to remind you that no matter what kind of loan you apply for, you must maintain good repayment habits to avoid overdue and personal credit damage.
2. How to calculate the loan interest formula:
Different loan types have different interest calculation methods. For example, we are familiar with online loans, some products pay interest on a daily basis, and some pay interest on a monthly basis. Common loan interest calculation formula:
Interest = principal × year (month )× year (month) interest rate
Interest = principal × actual days × daily interest rate
Personal loan interest calculation formula: equal principal and interest calculation formula: monthly repayment amount = [loan principal × monthly expected annualized interest rate ×( 1+ monthly expected annualized interest rate) repayment months ]=[( 1+ monthly expected annualized interest rate) repayment months-1] (where the symbol indicates the multiplier).
Calculation formula of average fund: monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly expected annualized interest rate.