How much is the monthly repayment of a 500,000 house loan for 30 years?
The first monthly monthly payment for a 30-year equal principal repayment of a 500,000 house loan is 3,430.56 yuan, and then decreases monthly.
Equal principal amount refers to a loan repayment method, which is to divide the total amount of the loan into equal parts during the repayment period, and repay the same amount of principal and the remaining loan amount in that month. Since the monthly principal repayment amount is fixed and the interest is getting less and less, the borrower has greater repayment pressure at first, but as time goes by, the monthly repayment amount becomes less and less.
Calculation method:
It is also convenient to determine your loan repayment ability based on your income.
The total expenditure of this repayment model may be reduced compared to equal amounts of principal and interest, but the repayment pressure is greater at the beginning.
If used for housing loans, this method is more suitable for people who are at their peak working stage, or who are about to retire.
Equal principal loan calculation formula:
Monthly repayment amount = (loan principal/number of repayment months) (principal - cumulative amount of principal repaid) × each monthly interest rate, and when the interest rate is low.
Examples:
1. Loan of 120,000 yuan, annual interest rate 4.86%, repayment period 10 years;
Equal principal and interest: repayment after 10 years 151,750.84 yuan, total interest 31,750.84 yuan;
Equal principal amount: repayment after 10 years is 149,403.00 yuan, total interest 29,403.00 yuan;
The difference between the two: 2,347.84 yuan/10 years, one The difference is only 235 yuan per year.
2. Loan of 120,000 yuan, annual interest rate 4.86%, repayment period 20 years;
Equal principal and interest: repayment after 20 years is 187,846.98 yuan, total interest 67,846.98 yuan;
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Equal principal amount: repayment after 20 years is 178,563.00 yuan, with total interest of 58,563.00 yuan;
The difference between the two is: 9,283.98 yuan/20 years, a difference of only 465 yuan in one year.
3. Loan of 3 million yuan, annual interest rate 4.86%, repayment period 30 years;
Equal principal and interest: repayment after 30 years is 5705618.40 yuan, total interest 2705618.40 yuan;
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Equal principal amount: repayment after 30 years is 5,193,073.80 yuan, total interest is 2,193,075.00 yuan;
The difference between the two is nearly 510,000 yuan. The more loans, the longer the term, and the equal principal and interest ratio is 2193,075.00 yuan. The greater the gold repayment.
How much is the monthly payment for a 10-year mortgage of RMB 500,000?
The benchmark interest rate stipulated by the People's Bank of China for loans over 5 years in 2018 is 4.9%, and the monthly payment will vary depending on the repayment method. When a 10-year loan of 500,000 is repaid according to the repayment method of equal principal and interest, the monthly payment is 5,278.87 yuan, and the monthly repayment amount is the same; when the loan of 500,000 is repaid according to the repayment method of equal principal and interest for 10 years, the first month payment is required The payment is 6208.33 yuan, the second month's repayment is 6191.32 yuan, and the last month's repayment is 4183.64 yuan. The principal is reduced monthly by equal amounts.
Applying for a home loan generally requires the borrower to have a good income, the ability to repay the loan on time, and the borrower must have good credit. At the same time, the borrower must be over 18 years old. Generally, the loan period increases with the borrower The age cannot exceed 65 years, and there are differences between individual banks.
It usually takes about a month to apply for a mortgage. If the bank refuses, the borrower will be notified by phone. At this time, the borrower may need to supplement some materials or try another bank. When the bank refuses, the borrower must Figure out why and make improvements.
Before applying for a loan, it is best for borrowers to evaluate their repayment ability, whether they can repay on time in the future, and whether they have any important expenses, such as marriage, car purchase, etc. These consumptions may affect normal life. If you have difficulty repaying the loan, you can reduce the loan amount.
The interest rate on loans is really high. Why is the interest rate on deposits not so high?
How much is the monthly payment for an Agricultural Bank of China loan of RMB 500,000 for 20 years?
According to Bank of China The latest loan interest rate table in 2020, the annual interest rate within 6 months (including 6 months) is 4, and the annual interest rate is 35%, from 6 months to 1 year (including 1 year). The annual interest rate for one to three years (three to five years (including five years)) is 35%.75%, and the annual interest rate for more than 5 years is 4.90%.
The 20-year loan interest rate is 4.90%, and the monthly repayment for a 20-year loan of 500,000 yuan is 3,272.22 yuan.
Bank loan application process:
1. Loan application: The borrower applies for a loan to the lending bank;
2. Credit rating evaluation: The bank’s evaluation of the borrower Evaluate the credit rating;
3. Loan investigation: The bank investigates the legality, safety and profitability of the borrower;
4. Loan approval: The bank divides the loan into batches , the loan management system for graded approval is used for loan approval;
5. Contract signing: the bank signs a loan contract with the borrower;
6. Lending: the bank lends money on schedule according to the loan contract;< /p>
7. Post-loan inspection: The bank conducts follow-up investigations to check the performance of the borrower's loan contract and the borrower's operating conditions.
Note: The bank mainly examines two aspects of the lender: one is the credit status of the lender, and the other is the income status of the lender. The bank will check the credit status of the borrower through the credit report from the Credit Reference Center of the People's Bank of China. Banks will review the lender's salary income, fixed assets and family background.
For a loan of 500,000 yuan with a term of 10 years, what is the monthly payment?
The loan is NT$500,000, with a term of 10 years. The current benchmark interest rate for more than 5 years is 4.9%. The equal principal and interest repayment method is adopted. The monthly payment is 5,278.87 yuan.
If you repay in equal amounts of principal, the monthly payment in the first month is 6208.33 yuan, and then the monthly payment gradually decreases.
Equal principal and interest refers to a loan repayment method, which means that the same amount of loan (including principal and interest) is repaid every month during the repayment period.
Equal installments of principal and interest and equal installments of principal are different concepts. Although the monthly repayment amount may be lower than the amount of equal installments of principal repayment at the beginning, the interest paid in the end will be higher. This method is often used by banks for equal principal repayment.
Repayment method:
That is, add the total principal and total interest of the mortgage loan, and then divide it evenly into each month of the repayment period. The amount is fixed, but the proportion of principal in the monthly repayment increases month by month and the proportion of interest decreases month by month. This method is the most common and has long been recommended by most banks.
The equal principal and interest repayment method means that the borrower repays the loan principal and interest in equal amounts every month, in which the monthly loan interest is calculated based on the remaining loan principal at the beginning of the month and is settled month by month.
The equal principal repayment method means that the borrower repays the loan principal in an equal amount (loan amount/number of loan months) every month. The monthly loan interest is calculated based on the remaining loan principal at the beginning of the month and is settled month by month. The total of the two is the monthly repayment amount.
Calculation formula
Monthly repayment amount = [Loan principal × monthly interest rate × (1-month interest rate) ^ number of repayment months] ÷ [(1-month interest rate) ^ repayment Number of months of payment - 1]
Derivation of repayment formula
Suppose the total loan amount is A, the bank’s monthly interest rate is β, the total number of periods is m (months), and the monthly repayment amount Assuming it is 1β)-X=A(1β)^2-X[1(1β)]
The third month [A(1β)-X)(1β)-X](1β)-X= A(1β)^3-X[1(1β)(1β)^2]
Thus, the bank loan owed after the nth month is A(1β)^n_X[1(1β) )(1β)^2(1β)^(n-1)]=A(1β)^n_X[(1β)^n-1]/β
Since the total number of repayment periods is m, That is to say, all bank loans have just been repaid in the mth month,
Therefore, A(1β)^m_X[(1β)^m-1]/β=0
This is obtained We get Amount:
Monthly repayment amount: a[i(1i)^n]/[(1i)^n-1]
(Note: a: loan principal, i: monthly loan interest rate, n: number of loan months)
2. Repayment amount with equal principal repayment method:
Monthly principal repayment: a/n
p>Monthly interest repayment: ani/30dn
Total monthly repayment amount: a/nani/30dn
(Note: a: loan principal, i : monthly loan interest rate, n: number of loan months, an: remaining principal of the loan in the nth month, a1=a, a2=a-a/n, a3=a-2a/n...and so on for the nth month of dn The actual number of days, such as February is 28, March is 31, April is 30, and so on)
Repayment method interest calculation
Equal principal and interest repayment method Interest calculation:
If you repay the loan in equal amounts of principal and interest, calculate the monthly loan principal and interest first: BX=ai(1i)^N/[(1i)^N-1]
Provide fund loan How much is the monthly payment of 500,000 in 30 years
To know how much the monthly payment of a loan is, the borrower first needs to determine the principal of the loan, the loan term, the repayment method and the loan interest rate.
The annual interest rate of provident fund loans generally starts at 3.25%. Assuming that the borrower takes a loan of 500,000 yuan and repays the loan in 30 years, the repayment methods are generally equal principal and equal principal and interest.
If the borrower repays the loan in equal amounts of principal and interest, then based on the annual interest rate of 3.25%, the monthly payment = 2,176.03 yuan, and the total interest = 283,371.37 yuan.
If the borrower repays with equal amounts of principal, calculated based on an annual interest rate of 3.25%, the first month's monthly payment = 2,743.06 yuan, the last month's monthly payment = 1,392.65 yuan, and the total interest = 244,427.08 yuan.
Online loan users can also check their credit qualifications by connecting to third-party big data risk control platforms, such as Xiaoqixincha, Zhima Credit, etc. The former has cooperated with more than 98% of online loans on the market. The agency has established data cooperation, so its query results are very accurate. Intuitively, you can not only understand your own big data and credit situation, but also obtain various indicator data. Online loan blacklist data is shared on most loan platforms, which means that if a borrower is overdue or fails to repay money on one platform, such bad records will also be disclosed on other loan platforms, so Everyone must carefully maintain their online loan credit, otherwise when we encounter another economic crisis, we will not be able to obtain online loan products with good personal credit.
Extended information:
How much is a monthly loan of 400 provident fund?
If the borrower's monthly provident fund payment is 400 yuan, then the provident fund account amount is 4,800 yuan per year. If the provident fund account amount is less than 20,000 yuan, if the provident fund account is calculated as 20,000 yuan, the provident fund can loan after one year Ten to twenty times the remaining amount.
Normally speaking, the greater the balance remaining in the provident fund account and the longer the deposit period, the larger the loan amount. If both the couple pay enough provident fund for one year, they can borrow about 400,000.
If conditions permit, after applying for a provident fund loan, the borrower can also use the balance in the account to offset the loan repayment, saving a monthly payment for his or her life.
A mortgage of NT$500,000, equal principal and interest for 20 years, how much is the monthly payment?
If the loan principal is: 500,000, the term is: 20 years, and according to the People’s Bank of China’s benchmark annual interest rate for loans with a term of more than 5 years: 4.90% (remaining unchanged), the equal principal and interest repayment method is adopted, and the monthly payment is: 3272.22; Total repayment: 785332.86; Total interest: 285332.86;
Using the equal principal repayment method, the monthly payment is reduced step by step, the first installment: 4125; the amount of each subsequent installment is reduced step by step: 8.51 ; Total repayment: 746020.83; Total interest: 246020.83.
The loan interest rate of general mortgage loans will fluctuate up and down based on the base interest rate of 4.9%, and the floating ratio of each bank will be different. Therefore, different users will eventually repay a loan of 500,000 in 20 years. The amount of the loan is different. Users can directly consult the bank when taking a loan, or search for "loan calculator" on Baidu and enter the term and amount of the loan they want, the loan interest rate, etc. in the calculator. Find out your repayment amount.