The calculation of bank loan interest, except for 360 days, is not 365 days: for the convenience of calculation;

There are 12 months every year, and there are only 30 days in a month according to 360 days.

The calculation of bank loan interest, except for 360 days, is not 365 days: for the convenience of calculation; There are 12 months every year, and there are only 30 days in a month according to 360 days.

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There are two algorithms for bank loan interest: 360 days and 365 days;

The annual interest rate of general loans is converted into daily interest rate according to 360 days; The daily loan interest rate is converted into the annual loan interest rate by 365 days.

Article 3 of the Notice of the People's Bank of China on the Calculation and Settlement of RMB Deposit and Loan Interest stipulates that the daily interest rate shall be calculated at the annual interest rate of /360.

The Notice of the People's Bank of China on Adjusting the Conversion Standard of Daily Interest Rate of Bond Repurchase stipulates: "The daily interest rate shall be uniformly converted by dividing the annual interest rate by 365 days. If it is not divisible, four digits shall be reserved after the decimal point, and the fifth digit shall be rounded off. "

The Standard for People's Courts to Handle Enforcement Cases published by the Supreme People's Court Executive Board on 20 17 stipulates in Item (3) of Article 161: "If the non-performance period exceeds 1 year, the interest shall be calculated at the annual rate of the benchmark interest rate for the same period every full year, and the interest shall be calculated at the daily rate of the benchmark interest rate for the remaining period.

The daily interest rate is calculated by dividing the annual interest rate of the benchmark loan interest rate by 365 days. "The two notices of the People's Bank of China have two ways to calculate daily interest, which lies in the way of interest settlement.

In the Notice of the People's Bank of China on the Calculation and Settlement of Interest on RMB Deposits and Loans, the businesses specified in the notice are settled quarterly. In the Notice of the People's Bank of China on Adjusting the Conversion Standard of Interest Rate on Bond Repurchase Day, for the inter-bank bond market, the interest period is calculated according to the actual days of bond repurchase.

What is the difference? According to the quarterly interest settlement method, there are four quarters every year. The quarterly interest rate is calculated by multiplying the monthly interest rate by 3, and the monthly interest rate is calculated by the annual interest rate/12. The interest rate is the same every month and quarter, but we know that the number of days in each quarter is different.

If the daily interest rate is calculated according to the annual interest rate /365, then the monthly interest rates of 28, 29, 30, 3 1 are different, and the interest rates of each quarter are different, which will lead to confusion in interest rate calculation.

After calculating the daily interest rate with an annual interest rate of /360 and the monthly interest rate with an annual interest rate of/12, the interest rate can be guaranteed to be the same every quarter and every month, thus avoiding the confusion visible to the naked eye. However, the method of calculating interest according to the actual number of days does not have the above problems. In order to ensure that the annual interest rate is the same as the daily interest rate, the interest rate is calculated at the annual interest rate of /365.

After comparison, we found it difficult to say whether to divide by 365 or 360. Whether it is correct or not depends on the interest settlement method, and the calculation method that matches the real transaction can be said to be correct. In business execution, interest is calculated on a daily basis, so the daily interest rate is calculated by dividing the annual interest rate by 365.