The so-called "5%" means that the monthly interest rate of the loan is 0.5%, not how much money is borrowed. The monthly interest rate is calculated at 1 month.
Take the loan of 6,543,800 yuan and the loan period of 654.38+0 years as an example:
If the loan is made for one month, the interest generated is 50 yuan, and the interest for one year is:10000× 0.5 %×12 = 600 yuan. Most private loans are calculated by "points" or "points". Usually, if there is no special explanation, such as borrowing 100 yuan, the monthly interest is 50 cents. This 5% monthly interest rate is converted into annual interest rate, which is 0.5%× 12=6%.
Definition of annual interest rate:
The annual interest rate refers to the deposit interest rate for one year. The so-called interest rate is the abbreviation of "interest rate", which refers to the ratio of interest amount to deposit principal or loan principal in a certain period of time. Usually divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage of the principal, the monthly interest rate as a percentage, and the daily interest rate as a percentage.
When the economic development is in the growth stage, the investment opportunities of banks increase, the demand in loanable funds increases and the interest rate rises; On the other hand, when the economy is in a downturn and the society is in a depression, banks' willingness to invest will decrease, so will the demand for loanable funds, and the market interest rate will generally be lower.
Definition of loan:
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
Introduction to private lending:
Private lending is a kind of private financial activity with a long history and widespread worldwide, which mainly refers to the financing behavior between natural persons, between natural persons and legal persons or other organizations, and between legal persons or other organizations with money or other securities as the target. Financial institutions engaged in loan business and their branches established with the approval of financial supervision departments, and related financial businesses such as issuing loans do not belong to the category of private lending.
Interest introduction:
Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
How much is the interest of 5%?
Interest of 5% means that the loan interest rate is 0.5%, which is generally a monthly interest rate. Then 5% interest, loan 654.38+ten thousand yuan, loan time 1 year, resulting in interest of 654.38+ten thousand *0.5%* 12=6000 yuan. In addition, the general interest rate of 5% generally occurs in private lending, and bank loans will directly tell borrowers the specific interest rate.
If the monthly interest rate is 5%, it means that the monthly interest rate is 0.5%. At this time, the annual interest rate is 0.5%* 12=6%, and the interest to be repaid in one year = loan amount * loan interest rate * time =100000 * 6% *1= 6000 yuan.
If the annual interest rate is 5%, it means that the annual interest rate is 5%, and the annual interest is repaid = 100000*5%=5000 yuan.
The annual interest difference in the above calculation process is 1 1,000 yuan, so be sure to see clearly whether the loan contract stipulates the annual interest rate or the monthly interest rate before 5%. If there is no specific agreement, the monthly interest rate will be adopted according to folk customs. That is, you have to pay interest of 6000 yuan a year.
Centimeter is the unit of interest rate. For the annual interest rate, one percent is one percent, and for the monthly interest rate, one percent is one thousandth. If it is annual interest rate, 5% interest is 5% interest rate; If it is a monthly interest rate, 5% interest is 0.5% interest rate.
When you use miles and minutes, you must pay attention to the days, months and years ahead. Different time backgrounds have different percentages! I'd like to remind you that in the IOUs, the place where disputes are likely to occur is just "interest 1 minute", and it is not indicated whether the monthly interest rate is 10%, and the monthly interest rate is10% (converted into annual interest rate 12%), with a difference of 2%.
The relationship between points and cents
On-off and on-off is a simple name for interest rate, which is generally a few cents or a few cents. Many users often say that interest is a few cents or a few cents. In fact, this is a wrong statement, but after all, it is special that although the statement of interest is incorrect, users can understand each other, because in many users' concepts, interest rate and interest are "fixed" and equally understood.
The point is the monthly interest rate. Take monthly interest 1% as an example, which can be described as monthly interest 1 minute.
Cents is the monthly interest rate. Taking the monthly interest rate of 2‰ as an example, it can be described as the monthly interest rate of 2%.
The conversion relationship between minutes and centimeters is 1 minute = 10 cm.
So the percentage can also be expressed as a percentage, that is, taking the monthly interest rate of 0.2% as an example, it can also be expressed as a monthly interest rate of 2%.
Interest = loan amount × loan interest rate × loan time.
What's the interest on the loan of 5%?
The loan principal is 654.38 million yuan, with interest of 5%. The monthly interest is 500 yuan, and after one year, the interest is 6000 yuan. Usually 5% is used to express the monthly interest rate, that is, the loan interest rate is 0.5%/ month. Convert the monthly interest rate into annual interest rate, 0.5%* 12=6%, that is, the annual interest rate is 6%. The loan is 654.38 million yuan, the loan term is 654.38+0 years, and the annual interest of 654.38 million yuan calculated by 5% is 6.5438 million yuan * 6% = 6,000 yuan, which is a relatively moderate loan interest rate level. This interest rate is neither too high nor too low.
What about loans overdue?
There are different cases of overdue, and the consequences and treatment methods of overdue under different circumstances are also different, mainly in the following aspects:
1, overdue due to negligence
Neglect and overdue are phenomena that many people will appear. Most people don't intend to default on loans, and this kind of overdue is also the easiest to solve.
First, find the overdue money as soon as possible, and then call the bank to explain the reasons. Generally, there is a grace period within 3 days, and the bank can issue a non-malicious overdue certificate after 3 days.
2. The credit card has expired.
If the bank credit card is overdue, the first thing to do is to pay off the debt. Need to be reminded, never cancel the card immediately, you should continue to use it.
Because in the credit report, the credit card repayment record is a rolling record of the last 24 months. Continued use will clear the expired record, but if the card is cancelled immediately after expiration, the record will be permanently stored there.
3. Overdue loans
If someone borrows money in your name and it is overdue, you only need to file an objection application at the local people's bank, which usually takes 15 working days. The overdue records will be eliminated immediately after the audit, and your personal credit information will not be affected.
4. Bad records have been generated.
If your overdue record has been shown in your personal credit report, don't give up on yourself. The first thing to do is to pay off the loan, and then maintain good credit habits. The automatic repair time of personal credit information is 5 years. After the bad records are generated, as long as the good records are kept for 5 years, the bad records will be automatically eliminated.
How much is a 5% loan?
When private lending institutions handle loan business, they often hear that interest is a few cents or a few cents. Generally, private lending is calculated by points or points. Usually, 5% means that the monthly interest rate of the loan is 0.5%. However, some institutions refer to the daily interest rate. Therefore, when handling private lending, if the interest rate is 5%, then the borrower must see clearly whether the interest rate agreed in the loan contract is the monthly interest rate or the daily interest rate. The interest rate under different circumstances is quite different from the interest that the borrower needs to pay.
Take the loan 1 000 yuan and the loan term 1 year as an example. Usually, 5% is the monthly interest rate, with one month's interest in 50 yuan and one year's interest in:10000 * 0.5% *12 = 600 yuan. 5% monthly interest is converted into annual interest rate, which is 0.5% * 65433.
If 5% is the daily interest rate, it means that the daily interest rate is 0.5%. If you borrow 1 10,000 yuan, one day's interest will be 50 yuan, and 5% of the daily interest rate will be converted into annual interest rate 180%, and the interest to be paid for one year will be 18000 yuan, and the repayment interest will be higher than the principal. This interest rate is already usury, which is illegal. Therefore, borrowers should pay attention to see clearly that if they borrow usury, the interest that users need to pay is not small.