According to the benchmark interest rate of the central bank, the annual interest rate of commercial loans over five years is 4.90%; The annual interest rate of provident fund loans for more than five years is 3.25%, and the monthly mortgage of 550,000 yuan is calculated as follows:

I. Commercial loans

1, the repayment method of equal principal and interest is 550,000 yuan, and the monthly loan for 20 years is 3,599.44 yuan.

2. Average principal repayment method The first monthly payment of 550,000 yuan for the mortgage in 20 years is 4,537.50 yuan, and then it will decrease month by month.

Second, provident fund loans.

1, the repayment method of equal principal and interest is 550,000 yuan, and the monthly payment for 20 years is 3 1 19.88 yuan.

2. The average repayment method is 550,000 yuan, which is 37,865,438 yuan +0.25 yuan in the first month of 20 years, and then decreases month by month.

There are two repayment methods of mortgage: equal principal and interest repayment method and average principal repayment method. Different repayment methods lead to different monthly payments after loan. The calculation method of monthly payment for the two loan methods is as follows:

1, equal principal and interest repayment method monthly payment = [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]=[( 1+ monthly interest rate) repayment months-1], equal principal and interest repayment method means that the principal and interest are the same every month and are repaid every month.

2. Average repayment method: monthly repayment amount = (loan principal ÷ repayment months)+(loan principal-accumulated repaid principal) × monthly interest rate. Matching principal repayment means that the principal repaid every month is unchanged and the interest is decreasing by stages.