At present, banks mainly adopt two mortgage repayment methods: equal principal and interest repayment and average capital repayment. First, the explanation of matching principal and interest repayment means that the loan principal and interest are repaid with the same amount every month, and the monthly contribution amount is fixed, so that the revenue and expenditure budget can be accurately grasped. O Decreasing repayment method is to repay the principal in equal amount every month, and the interest is settled monthly according to the remaining principal. The initial contribution amount is slightly higher than the matching principal and interest repayment method, but it can save the overall interest expenditure. 2. Monthly principal and interest repayment amount calculated by equal principal and interest method = [monthly interest rate of principal (1 interest rate) loan months ]/[( 1 interest rate) repayment months-1]. The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases, but the total monthly payment remains unchanged. The calculation method of monthly payment by equal repayment method can be simplified as: loan amount × repayment coefficient = monthly payment amount. 3. Calculation method of monthly repayment by diminishing method: monthly principal and interest amount = (principal/repayment months) (principal _ accumulated repaid principal) monthly interest rate Monthly principal = total principal/repayment months interest = (principal _ accumulated repaid principal) Monthly interest rate calculation principle: the principal amount returned every month is always the same, with interest.
Second, how much interest is the decoration loan of 200,000?
What's the interest rate for the renovation loan? The interest rate of decoration loan products of banks generally fluctuates on the basis of the benchmark interest rate of the central bank, and different banks set interest according to this system. The annual interest rate of the loan term is about one year or less. The loan interest rate of decoration loan will also depend on the loan amount and repayment time. Interest rate of bank decoration loan: 6% for short-term loans and medium-and long-term loans from six months (inclusive) to one year (inclusive); Three to five years (inclusive) 6%; Renovation loans for more than five years are loans provided by banks or other financial institutions to individuals for housing renovation, and generally do not require mortgage. Compared with other consumer loans, its amount can be given very high. /kloc-how much interest does a decoration loan of 0/00000 have for one year? Assuming that the loan is calculated according to the above loan interest rate, and the repayment method of equal principal and interest is adopted, the loan is 654.38 million yuan, and the repayment period is one year, so the total interest is 5600 yuan. In addition, we need to remind everyone that according to the regulations of the bank, renovation loans are not allowed to be withdrawn. The bank either directly transfers the money to the account of the decoration company, or the borrower can only spend it at some hardware stores. The special requirements in the house decoration loan are: to have the house renovation contract, decoration budget and related materials signed with the decoration enterprises recognized by the relevant departments. The above is the sharing of "how much is the interest rate of decoration loan", and I hope it will help everyone! Before, I also needed business turnover. I used several products. In fact, every small loan platform has an internal application entrance, with low interest, convenient payment and high quota! Scan the code below to enter the QR code!
3. The monthly interest rate of the renovation loan of Qinnong Bank is 4.85‰. How is it calculated? Borrow 200,000 yuan with a term of one year. How much was it before each month?
A: The renovation loan is 200,000 yuan, with a term of 1 year (12) and a monthly interest rate of 0.485%.
(1) If the matching method (etc.
Monthly payment = [loan principal × monthly interest rate ×(65438+ monthly interest rate)] [(65438+ monthly interest rate) Repayment 2000000.485% (10.485%)12)/((kloc-0/0.485%)
(2) If repayment is made by decreasing method (average capital).
The monthly repayment of the principal is 200,000/65,438+02 = 65,438+06,666.67 yuan, and the contribution in the first month is = (loan principal ÷ repayment months) (principal-accumulated repayment amount) 0000/65,438+02) (200) Total interest to be paid in 1 year * * = principal × monthly interest rate × (loan months ÷ 20.5) = 2000000.485% (12/20.5) = 6305 yuan.