There are two repayment methods, interest and principal are calculated separately.
(a) equal principal and interest repayment method:
Matching principal and interest means that the monthly repayment amount is the same, and average capital means that the principal paid to the bank every month during the loan period is the same. Because the interest is decreasing month by month, the monthly repayment amount will be less and less.
1. Monthly repayment amount = [loan principal× monthly interest rate× (1interest rate )× repayment months ]=[( 1 interest rate )× repayment months]
2. Monthly interest payable = loan principal × monthly interest rate × [( 1 interest rate )× repayment months -( 1 interest rate )× (repayment month serial number-1)] ÷ [(1interest rate )× repayment months-650.
3. Monthly repayment of principal = loan principal × monthly interest rate ×( 1 interest rate) ÷ (repayment month serial number-1) ÷ [( 1 interest rate) repayment months-1]
4. Total interest = repayment months × monthly repayment amount-loan principal
(2) the average capital repayment method:
1. Monthly payment = (loan principal ÷ repayment months) (loan principal-accumulated amount of repaid principal) × monthly interest rate.
2. Monthly repayable principal = loan principal ÷ repayment months.
3. Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment amount) × monthly interest rate.
4. Declining monthly payment = monthly payable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate.
5. Total interest = [(total loans ÷ repayment months ÷ total loans × monthly interest rate) total loans ÷ repayment months ×(65438+ monthly interest rate)] ÷ 2
6. Description of repayment months-total loan amount: monthly interest rate = annual interest rate ÷12154 =15×15 to the fourth power, that is,
Extended data:
O During the loan period, the borrower repays the principal and interest of the bank loan with the same monthly repayment amount.
O Borrowers can choose two ways: automatic deduction by computer or repayment by networked savings offices of loan banks, and repayment of loan principal and interest on a monthly basis;
5. Alteration or termination of the loan contract
O If the loan contract needs to be changed, it must be agreed by the loan handling bank, the borrower and relevant parties through consultation, and a change contract shall be signed according to law.
O If the borrower dies, is declared missing or loses capacity for civil conduct, and his heirs, guardians or legatees continue to perform the loan contract signed by the borrower, they shall sign a new loan contract and go through relevant formalities.
O After the borrower repays all the loan principal and interest as agreed in this contract, the collateral or pledge is returned to the mortgagor or pledger, and the loan contract is terminated.
China Agricultural Bank Personal Housing Mortgage Loan
Refers to the consumer loan business in which the borrower purchases the affordable housing designated by the Agricultural Bank of China, and uses the purchased housing as collateral to apply for a loan from the Agricultural Bank of China to pay part of the purchase price and repay the principal and interest on a monthly basis. The loan amount can reach 70% of the house price, the longest term can reach 20 years, and the interest rate is fixed for one year.