Now loans have become more and more popular, because it allows people to spend in advance and repay in installments later, greatly reducing the economic burden. In this process, only some loan costs need to be properly paid, and the amount of this loan cost needs to be calculated by the loan interest rate. So, what is the formula for calculating the loan interest rate? Let's take a look together.
I. Calculation formula of loan interest rate
1, daily interest rate = monthly interest rate /30 days = annual interest rate /360 days;
2. Monthly interest rate = daily interest rate for 30 days = annual interest rate/12 months;
3. Annual interest rate = monthly interest rate 12 months = daily interest rate of 360 days;
4. Interest = loan principal loan interest rate loan term;
5. Under the average capital method, interest = the loan interest rate of the remaining principal to be repaid;
6. Under the equal principal and interest method,
Monthly interest = the monthly interest rate of the remaining loan principal.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 interest rate) repayment months ]≤[( 1 interest rate) repayment months-1],
If the repayment period is 6 and the monthly interest rate is 1%, then (11%) 6 =1.01.0165438.
Second, for example.
Assuming that the loan principal is 6000 yuan, the loan term is 6 months, and the monthly interest rate is 1%, then:
1, average capital model
Monthly repayment amount =6000/6= 1000 yuan,
The first month loan interest =6000 1%=60 yuan;
The loan interest of the next month = (6000-1000)1%= 50 yuan;
Third month interest =(6000-2000) 1%=40 yuan;
The fourth month interest =(6000-3000) 1%=30 yuan;
The fifth month interest =(6000-4000) 1%=20 yuan;
Interest of the 6th month = (6000-5000)1%=10 yuan.
2. Under the equal principal and interest method
Monthly repayment amount = (60001%1.06)/(1.06-1) =1035.29 yuan,
The first month loan interest =6000 1%=60 yuan, and the remaining loan principal = 6000-(1035.29-60) = 5024.71yuan;
The loan interest of the next month is 5024.711%= 50.25 yuan, and the remaining loan principal is 5024.71-(1035.29-50.25) = 4039.67 yuan;
Conversely, the interest of the sixth month = 10.25 yuan.
The above is about the "loan interest rate calculation formula", I hope it can help you.
Calculation formula of loan interest rate
Interest rate = interest/principal/time × 100%
For example: deposit 100 yuan,
The bank promised to pay an annual interest rate of 4.2%
Then the bank will pay 4.2 yuan interest next year.
The calculation formula is 100×4.2%=4.2 yuan.
The formula is: interest rate = interest ÷ principal ÷ time × 100%.
Interest = principal × interest rate× time
= 100×4.2%=4.2 yuan.
Final withdrawal 1004.2= 104.2 yuan.
Extended data
Matters needing attention
1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room appropriately, without affecting your normal life.
2. Choose the appropriate repayment method. Matching repayment method and matching principal repayment method are all known. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month following the initiation of the loan, it is generally the repayment date of the next month. Don't touch the liquidated damages because of your negligence, so that the bank can't apply for a loan again.
4. Take good care of your contracts and IOUs, read the terms of the contracts carefully, and know your rights and obligations.
How to calculate the loan interest rate
1. Monthly interest rate: that is, the interest calculated on a monthly basis. The calculation method is: monthly interest rate = annual interest rate ÷ 12 (month).
2. Daily interest rate: The daily interest rate is called the daily interest rate and is calculated on a daily basis. The calculation method is: daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
3. Annual interest rate: usually in the form of percentage of principal, interest is calculated annually. Calculation method: annual interest rate = interest ÷ principal ÷ time × 100%.
4. Annualized interest rate: refers to the interest rate at which the inherent rate of return of products is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the yield of a wealth management product is one year and the yield is B, the annualized interest rate R is calculated as R=( 1B)A- 1.
5. Calculation formula of equal principal and interest: [loan principal × monthly interest rate× (1interest rate) repayment months] ÷ repayment months [( 1 interest rate) repayment months-1]
6. Calculation formula of average fund: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.
Extended information:
Bank loan refers to an economic behavior in which banks lend funds to people in need at a certain interest rate according to national policies and agree to return them within a specified time limit. Generally, you need a guarantee, a house mortgage, or proof of income, and your personal credit information is good before you can apply.
Moreover, in different countries and different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan quotas, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans are mostly in the form of discounted bills, credit accounts and overdraft accounts.
According to different classification standards, there are different types of bank loans. For example:
1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;
2. According to different repayment methods, it can be divided into demand loans, term loans and overdrafts;
3. According to the purpose or object of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans and securities broker loans.
4. According to the different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan and credit loan.
5. According to the loan amount, it can be divided into wholesale loans and retail loans;
6. According to the different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.
Short-term loans refer to loans with a loan term of 1 year (inclusive). Short-term loans are generally used for the liquidity needs of the borrower's production and operation.
The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of short-term working capital loans is generally about half a year, and the longest is no more than one year; Short-term loans can only be extended once, and the extension period cannot exceed the original period.
The loan interest rate is determined according to the interest rate policy formulated by the People's Bank of China and the floating range of the loan interest rate, as well as the nature, currency, use, method, term and risk of the loan, among which the foreign exchange loan interest rate is divided into floating interest rate and fixed interest rate. The loan interest rate is indicated in the loan contract, which customers can check when applying for a loan. Overdue loans will be punished according to regulations.
The advantages of short-term loans are relatively low interest rates and relatively stable capital supply and repayment. The disadvantage is that it cannot meet the long-term capital needs of enterprises. At the same time, because short-term loans use fixed interest rates, the interests of enterprises may be affected by interest rate fluctuations.
How to calculate the annualized interest rate of loans?
The latest benchmark interest rates for bank loans are respectively 4.35% within one year; 4.75% for one to five years; The loan interest rate for more than five years is 4.9%. The annual interest rate of bank loans is low, but the threshold is high, so now many people will lend on the online lending platform, but this lending platform generally gives the daily interest rate or monthly interest rate. The calculation formula of annual interest rate is: monthly interest rate × 12 months = daily interest rate ×360 days (calculated according to 360 days per year) = annual interest rate.
Calculated at the daily interest rate of 0.05%, the annualized interest rate =0.05%×360 days = 18%. Loan 10000 yuan, annual interest rate 18%× 10000 yuan = 1800 yuan. It is worth noting that the annual interest rate given by most lending platforms is between 14%- 18%. If the annualized interest rate calculated by the online lending platform is not within this range, or even exceeds the national statutory 24% or 36%, it is necessary to pay attention. Yes, the interest to be repaid in the end is very high, so even if you are short of money, you can't borrow money on this online lending platform.
1, it is safer to borrow in the following places, first of all, banks: the most common loan channels can be divided into central banks, policy banks, commercial banks, investment banks, the World Bank and so on. Among them, commercial banks have more contacts, such as Industrial and Commercial Bank, Agricultural Bank, Bank of China, China Construction Bank, Bank of Communications and China Merchants Bank. And some private banks, such as Weizhong Bank and E-commerce Bank. In every city,
2. Consumer finance companies: companies established with the approval of the CBRC. Their borrowing funds are their own funds and do not absorb user deposits. This is not the same as a bank. They are non-bank financial institutions, and their loans are relatively formal and safe. But the interest rate is higher and better than that of banks. The next payment is fast and the threshold is low. Regular licensee: Now the loan industry has been standardized a lot. You must hold a general loan license to engage in loan business. Therefore, before applying for a loan, you must carefully check whether you have relevant qualifications, so as to ensure your own safety.
In addition to the above, there are some places where loans can be obtained. Private lending company: As long as it is a formal company with a business license and engages in credit business, the loan process and expenses conform to the state regulations and are protected by law. Compared with banks and financial institutions, the threshold of private lending companies is too low. Users with average personal qualifications can be considered comprehensively.
How to calculate the loan interest rate
When funds are tight, many people will think of looking for bank loans, especially some enterprises or factories often use this method to solve the capital problem. Many people also choose loans when buying a house, which can reduce the economic burden. So how to calculate the loan interest rate? What should I pay attention to in bank loans? Next, Bian Xiao will introduce relevant contents to you. Let's have a look.
How to calculate the loan interest rate
Annual interest rate. Take the loan term of one to five years as an example. The benchmark interest rate of the central bank is 4.9%. If the loan is 1 10,000 yuan and the annual interest is 49,000 yuan, that is, the monthly interest is 4,083.3 yuan, then the monthly interest is 0.4 1%. Monthly interest is generally some loan products, and its calculation method is the same as the annual interest rate. Everyone must carefully calculate the loan interest rate before lending, so as not to be fooled.
What should I pay attention to in bank loans?
1. First of all, we should know the loan interest rates and loan conditions of banks, and choose banks with lower loan interest rates. Then, we must find a suitable loan method. At present, there are many forms of bank loans, and each form has different requirements for borrowers. In this case, before going through the loan formalities, the borrower should make a comparison to see which one best meets his own conditions.
2. Prepare loan procedures in advance. When applying for a loan, the borrower needs to provide complete loan procedures and make preparations in advance, because incomplete materials will affect the loan progress. Borrowers should understand the loan procedures and required materials before applying for loans.
3, according to their actual situation to determine the loan amount and duration. Applying for a loan is not as high as possible. All loans need to be repaid with interest. The higher the loan amount, the longer the loan term and the higher the interest generated. Therefore, we must choose the corresponding loan amount and term according to our actual situation.
Summary: The above is how to calculate the loan interest rate and what should be paid attention to in bank loans. I hope I can help some friends in need.
The introduction of how to calculate the interest rate of the loan company and how to calculate the annual interest rate of the loan company ends here. I wonder if you have found the information you need?