Bank loans are mainly divided into two repayment methods, namely equal principal and interest and average capital. According to the different repayment methods, the final loan interest will be different.
If the repayment method of matching principal and interest is 6,543,800 yuan, the loan time is 300,000 yuan, and the loan interest rate is 5.35% and 5.29% respectively, what is the interest difference between them?
Total interest 1, mortgage interest rate 5.35%
As shown in the above figure, the loan is 6,543,800 yuan, the loan time is 30 years, the loan interest rate is LPR+70 basis points, and the actual loan interest rate is 5.35%, so equal principal and interest repayment is selected.
As shown above, this is the result calculated according to the above loan situation. The loan is 6,543,800 yuan, with a loan interest rate of 5.35% for 30 years. After 30 years, the total loan interest is 654.38+0.010200 yuan, the total repayment amount is about 2065438+0200 yuan, and the monthly repayment amount is 55845438.
2. Total interest with mortgage interest rate of 5.29%
The loan is 6,543,800 yuan, and the loan period is 30 years. According to the loan interest rate of LPR+64 basis points, the actual loan interest rate is 5.29%. What is the total interest of the loan if you choose to repay the principal in equal amount?
As shown above, this is the loan information with an annual interest rate of 5.29%, in which the total loan amount is about 996,800 yuan, the actual repayment amount is 1.9968 million yuan, the monthly payment amount is 5,546.84 yuan, and the highest monthly interest payment amount is 4,408.33 yuan.
Comprehensive calculation shows that the loan interest rate is 5.35% and the interest rate is 5.29%, and the interest difference between them is: 1.0 1.02 million yuan-996,800 yuan = 1.34 million yuan, which is not small money. The interest rate is a little different, but the loan interest is very different.
If the repayment method in average capital is based on the above loan amount, loan time and loan interest rate, the only difference is that the repayment method is different. The above is the choice of equal principal and interest. Let's take a look at the choice of equal principal repayment. What is the difference between the interests of the two?
1. Interest situation of 5.35% mortgage interest rate.
As shown below, this is a loan of RMB 6,543,800+0,000, and the repayment method of equal principal is selected. The total loan amount is 804,700 yuan, the total repayment amount is 6.5438+0.8047 million yuan, the maximum monthly repayment amount is 72.36 1 1 yuan, and the maximum monthly interest payment is 445,833 yuan.
The same loan interest rate is 5.35%. If the repayment method of equal principal and interest is selected, the total loan interest is 10 10200 yuan, but if the repayment method of equal principal is selected, the total interest is 804,700 yuan, and the interest difference between them is:1kloc-0/0200 yuan-804,700 yuan = 205,500 yuan.
2. The rate in mortgage interest rates is 5.29%.
As shown below, this is a loan of RMB 6,543,800+0,000, and the repayment method of equal principal is selected. The total loan amount is 795,700 yuan, the total repayment amount is 6,543.8+0,795.7 million yuan, the maximum monthly repayment amount is 765.438+0,364.38+0,654.38 0 yuan, and the maximum monthly interest payment is 4,408.33 yuan.
The same loan interest rate is 5.29%. If the repayment method of equal principal and interest is selected, the total interest of the loan is 996,800 yuan, but if the repayment method of equal principal is selected, the total interest is 795,700 yuan. The interest difference between them is: 996,800 yuan-795,700 yuan = 20 1 1 000 yuan. Choosing different repayment methods can save 2065438 yuan.
Summarize and analyze
Through the above calculation, we can draw two conclusions. First, with the same loan amount, loan time and different loan interest rates, the final interest varies greatly. Secondly, the same loan amount, loan time, loan interest rate, different repayment methods, the final interest is very different.
Therefore, if we want to consider from the perspective of loan interest, the best way is to choose low loan interest rate, followed by the average capital loan method, so going to the bank for loan is the lowest interest rate and the most cost-effective.