What is the benchmark loan interest rate in May 2020?

2023-0 1- 15 Common sense Author: Jin _

In May 2020, the benchmark loan interest rate of China People's Bank was:

1. 4.35% each; One to five years (including five years) 4.75%; More than five years, 4.90%.

2. Interest rate of provident fund loan: 2.25% for less than five years (including five years).

2. What is the annual interest of 200,000 yuan in rural credit cooperatives?

The annual interest is more than 3300 yuan.

The one-year interest rate of rural credit cooperatives is 1.65%. Just like any other bank. Every time you deposit 200,000 yuan, you can get more than 3,300 yuan of interest a year.

3. What is the interest on the loan for 20 years?

Hello, landlord

The latest interest rate of commercial mortgage loan: 10 and 7.05% for 20 years.

There are two repayment methods, namely equal principal and interest method and average capital method, which are explained as follows:

I. The loan is 250,000 yuan with a term of 20 years:

1. Equal principal and interest method: the monthly repayment amount is 1945.76 yuan (the same every month), and the total interest is 2 1698 1.82 yuan.

2. Average capital method: the monthly repayment amount is different. The repayment amount in the first month is 25 10.42 yuan (it will be reduced month by month by 6. 12 yuan), and the repayment amount in the last month is 1047.79 yuan, and the total interest is 176984.38 yuan.

Compared with the above two methods, the average capital method is 39,997.45 yuan less than the equal principal and interest method.

The specific repayment method can be selected when the bank handles the loan procedures.

Two. The loan is 654.38 million yuan with a term of 654.38+00 years;

1. Equal principal and interest method: the monthly repayment amount is 1 163.66 yuan (the same every month), and the total interest is 39,639.60 yuan.

2. Average capital method: the monthly repayment amount is different. The repayment amount in the first month was 1420.83 yuan (and then decreased monthly by 4.90 yuan), and the repayment amount in the last month was 838.23 yuan, with a total interest of 35,543.75 yuan.

Compared with the above two methods, the average capital method is 4095.85 yuan less than the equal principal and interest method.

Generally speaking, 1, principal and interest method and principal method are two repayment methods. First, the central bank stipulates that lenders can choose; Second, the principal method is that the monthly payment in the first half of the year is greater than the principal and interest method. Take 20 years as an example: the monthly payment in the principal and interest method is 65,438+0,945.76 yuan, while the first monthly payment in the principal method is 2,565,438+0.42 yuan, a difference of 564.66 yuan. For banks, the principal method can recover funds faster than the principal and interest method, and the recovered funds can continue to lend and charge interest, which has no impact on the profits of banks.

2. The calculation method of interest, the principal and interest method is more complicated, and there is a simple calculation method (but there is a little error). The monthly payment multiplied by the number of loan months minus the principal is still 20 years, for example:1945.76240-250000 = 216982.40 yuan. When I calculated, I compiled a program with a spreadsheet.

Total interest of principal method = monthly interest rate of principal (loan months /20.5), still taking 20 years as an example:

2500007.05%/12 (240/20.5) =176984.38 yuan. I hope you are satisfied with this answer.

How much is the interest on the 42,000 loan for 20 years?

If you borrow from China Merchants Bank, the specific monthly payment depends on your loan execution interest rate and repayment method. You can borrow money from China Merchants Bank official website or Mobile Banking for trial calculation. The trial results are for reference only.

Mobile banking: log in to mobile banking and click My-All-Assistant-Financial Calculator-Loan Calculator;

China Merchants Bank Home Page: Financial Tools-Personal Loan Calculator is in the middle of the home page.

Enter information such as loan amount, annual interest rate, loan term and repayment method, and try to calculate monthly loan amount and interest.