Generally speaking, the credit loan limit in the banking system is relatively high, within 1 million. However, different people apply for different credit loan amounts. The better the personal credit record, the more loans they can get. In addition, the amount of loans they can get is related to their economic conditions. The stronger their economic strength, the more they can get. The limit will be higher, and if the economy is strong enough, the limit may exceed 1 million.

Common sense about loan interest

(1) The interest rate conversion formula for RMB business is (Note: common for deposits and loans):

1. Daily interest rate (0/000 )=annual interest rate (%)÷360=monthly interest rate (‰)÷30

2. Monthly interest rate (‰)=annual interest rate (%)÷12

(2) Bank Interest can be calculated using the cumulative interest calculation method and the transaction interest calculation method.

1. The accumulation interest calculation method is based on the daily accumulated account balance based on the actual number of days, and interest is calculated by multiplying the accumulated accumulation number by the daily interest rate. The interest accrual formula is:

Interest = cumulative interest accrual amount × daily interest rate, where cumulative interest accrual amount = total daily balance.

2. The interest calculation method calculates interest on a case-by-case basis according to the predetermined interest calculation formula: interest = principal × interest rate × loan term. There are three specific methods:

The interest calculation period is the entire Years (months), the interest calculation formula is:

①Interest = principal × number of years (months) × year (months) interest rate

The interest calculation period lasts for a whole year (months) ) If there are fractional days, the interest calculation formula is:

②Interest = principal × number of years (months) × interest rate per year (months) + principal × number of fractional days × daily interest rate

< p>At the same time, the bank can choose to convert all interest calculation periods into actual days to calculate interest, that is, each year is 365 days (366 days in leap years), and each month is the actual number of days in the Gregorian calendar in that month. The interest calculation formula is:

③Interest = principal × actual number of days × daily interest rate

These three calculation formulas are essentially the same, but since there are only 360 days in a year in interest rate conversion, when actually calculated based on daily interest rates, one year will be 360 ??days. Calculated over 365 days, the results will be slightly biased. Which formula is used to calculate the specific formula? The central bank gives financial institutions the right to choose independently. Therefore, the parties and the financial institution can agree on this in the contract.

(3) Compound interest: Compound interest means charging interest at a certain rate. According to the regulations of the central bank, if the borrower fails to repay the interest within the time stipulated in the contract, compound interest will be charged.

(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the bank's penalty interest on the defaulter according to the contract signed with the party is called bank penalty interest.

(5) Overdue loan liquidated damages: The nature is the same as penalty interest, and it is a punitive measure against the party who defaults on the contract.