Loan interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks. The calculation formula of interest is:

Interest = principal × interest rate× deposit period (i.e. time).

The calculation of mortgage interest will be different because of the different loan methods and mortgage repayment methods.

According to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average principal.

How to calculate the mortgage interest? First of all, we should understand the basic knowledge of interest.

I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):

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

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

Two, banks can use product interest method and transaction interest method to calculate interest.

1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:

Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.

2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:

If the interest-bearing period is a whole year (month), the interest-bearing formula is:

① Interest = principal × year (month )× year (month) interest rate

If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:

② Interest = principal × annual (monthly) × annual (monthly) interest rate+principal × odd days × daily interest rate.

At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:

③ Interest = principal × actual days × daily interest rate

These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.

Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.

Extended data:

Calculation method

Tool description

1, operation steps:

Step 1: First, choose whether your repayment method is average capital or equal principal and interest, and fill in the commercial loan term, loan amount and actual loan interest rate;

Step 2: Select whether to display repayment details, and click "Calculate" to get detailed information such as monthly repayment amount, total loan interest, total repayment amount, etc.

point out

1. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans.

2. Calculate the monthly payment, total interest and total repayment of commercial loans when choosing the repayment method of average capital and equal principal and interest.

According to the repayment formula of general mortgage loans, it can be divided into two types:

I. Calculation formula of equal principal and interest:

Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.

It should be pointed out that:

1, the maximum amount of urban provident fund loans should be combined with local conditions;

2. For residents who have borrowed money to buy a house but whose per capita area is lower than the local average, and then apply for buying a second set of ordinary self-occupied housing, the preferential policies for buying ordinary self-occupied housing with the first set of loans shall be implemented mutatis mutandis.

Second, the average capital calculation formula:

Monthly repayment amount = monthly principal+monthly principal and interest

Monthly principal = principal/repayment months

Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate

Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.

Formula description

According to the above formula

Principal: total loan amount

Number of repayment months: loan term X 12. For example, for a loan of 10 years, the repayment period is 10X 12= 120 months.

Monthly interest rate: monthly interest rate = annual interest rate/12.

Annual interest rate: that is, in the hot topic of mortgage discussion, the figure obtained after the base interest rate is 30% off and 8.5% off.

Cumulative repayment amount: the cumulative repayment amount in the first month of average capital repayment law is 0.

For example: 2009 annual interest rate table

Basic annual interest rate: 5.94%

15% annual interest rate: 5.05%

30% annual interest rate: 4. 16%

Annual interest rate of provident fund: 3.87%

explain

Mr. Wang borrowed 400,000 yuan from the bank to buy a house and paid it off in 20 years. The bank gave Mr. Wang a 30% interest rate.

If the annual interest rate is changed to monthly interest rate, the monthly interest rate is 4.16%/12 = 0.00347.

Average capital repayment method:

Monthly principal = 400,000/240 =1666.67

Monthly principal and interest = 400,000× 0.00347 =1388.

Repayment in the first month =1666.67+1388 = 3054.67 (yuan)

How is the monthly repayment principal and interest of mortgage calculated?

First, determine the loan interest rate. At present, the benchmark loan interest rate is 5.9% and the monthly interest rate is 0.49%.

2. The formula for calculating the monthly payment of equal principal and interest: [loan principal× monthly interest rate× (1+monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months]

3. Substitute the formula to get the monthly payment of 2 173.52 yuan, multiply the monthly payment by 240 months to get the total principal and interest of 52 1644.37 yuan, and then subtract the principal of 305,839 yuan to get the total interest of 2 15805.37 yuan.

Extended data:

Loan interest refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds. ? Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period.

The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease. There are three factors that determine loan interest: loan amount, loan term and loan interest rate.

state rate

The interest rate set by the People's Bank of China approved by the State Council and authorized by the State Council is the legal interest rate. The announcement and implementation of the statutory interest rate shall be the responsibility of the head office of the People's Bank of China.

benchmark interest rate

The deposit and loan interest rates of the People's Bank of China to commercial banks and other financial institutions are the benchmark interest rates. The benchmark interest rate is determined by the head office of the People's Bank of China.

contractual rate of interest

The lender shall make an agreement with the borrower according to the statutory loan interest rate and the floating collusion range stipulated by the People's Bank of China, and specify the interest rate of the specific loan in the loan contract.

Loan interest rate and interest

The General Rules for Loans stipulates that:

(1) Determination of loan interest rate: The lender determines the interest rate of each loan according to the upper and lower limits of loan interest rate stipulated by the People's Bank of China, and specifies it in the loan contract;

(II) Collection of loan interest: Lenders and borrowers shall collect or pay interest on schedule in accordance with the loan contract and relevant interest-bearing provisions of the People's Bank of China. When the loan extension period plus the original term reaches the new interest rate grade, it will be charged at the new term grade interest rate from the date of extension. Penalty interest is charged for overdue loans according to regulations.

(3) Loan interest subsidy: According to the national policy, in order to promote the economic development of certain industries and regions, the relevant departments may subsidize the loan interest. Loans subsidized by relevant departments shall be independently examined and issued by the undertaking bank, and strictly managed in accordance with the relevant provisions of the General Rules for Loans.

(4) Stop, interest and interest loan: Except as stipulated by the State Council, no unit or individual has the right to decide to stop, interest and interest. The Lender shall, according to the decision of the State Council, specifically handle the cessation, interest reduction and interest-free according to the scope of duties and authority.

Loan interest settlement

Small farmers' loans from rural commercial banks will be repaid with profits. If it is a cross-year loan, the interest must be settled in one lump sum before the end of the year. The interest settlement date is 65438+ February 20th every year.

Except for small-scale farmers' loans, short-term loans (with a term of less than one year, including one year) bear interest according to the legal loan interest rate of the corresponding grade on the signing date of the loan contract. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by installments.

Short-term loans are settled quarterly, and the 20th day of the last month of each quarter is the settlement date; If the interest is settled on a monthly basis, the 20th of each month is the interest settlement date. The specific interest settlement method shall be determined by the borrower and the lender through consultation. Interest that cannot be paid on schedule during the loan period shall be compounded quarterly or monthly according to the loan contract interest rate, and after loans overdue, at the default interest rate. When the last loan is paid off, the profit will be paid off with the principal.

The interest rate of medium and long-term loans (with a term of more than one year) should be fixed at one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) shall bear interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract within the time limit stipulated in the loan contract. After one year (installment payment shall be subject to the first loan issuance date),

Then determine the interest rate for the next year according to the legal loan interest rate of the corresponding grade at that time. Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate.

How is the mortgage deducted?

Mortgage repayment is automatically deducted by the banking system. The lender will deposit the monthly payment of the current month into the bank card. When the repayment date arrives, the banking system will retrieve the account balance of the bank card repaid that day. If the amount is enough, the monthly payment will be deducted. If not, the fee will be deducted several times at other times until the fee is deducted successfully. If the deduction is unsuccessful that day, it will be overdue. The process of buying a house with a loan

1. Understand the credit information. First of all, if you want to borrow money to buy a house, buyers must first check whether their personal credit information meets the loan conditions, and the exempted house is also optimistic. When they are ready to buy, they find that their credit information is unqualified and they are in a passive position.

2. Know the bank. Before applying for a loan, buyers can go to the bank for consultation, asking about the loan application conditions, interest rate, approval time and lending time, and then comparing them and choosing a bank with high cost performance.

3, prepare the information needed for the loan

(1) ID card. If you are married, you need the ID cards of both husband and wife. Of course, if it is a joint name, you need more ID cards.

(2) household registration book. Note that in some banks, if you are not the head of the household, you should copy the information page and registration card of the head of the household;

(3) Marriage certificate, i.e. marriage certificate, divorce certificate, etc.

(4) The work certificate shows that some banks have certain formats or certain elements, so you should ask the banks clearly;

(5) proof of income, the average bank will require that the monthly income is more than twice the monthly payment.

Some banks need customers to apply for loans again. After the loan is finished, remember to ask the bank for a loan contract and loan note of your own. There are also two copies of the real estate license, remember to stamp the official seal of the bank, because some organs and departments need to do things.

Legal basis: Article 670 of the Civil Code of People's Republic of China (PRC) stipulates that the loan interest shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated. Article 677 Where the borrower repays the loan in advance, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan period.