The annual interest rate of a bank is the annual interest rate. The calculation formula of one-year term is the sum of principal and interest = principal (1 interest rate).
If the principal is 20000 and the annual interest rate of the bank is 2.0%, the sum of principal and interest =20000( 12%)=20400.
That is interest = 200,000.02 = 400.
Principal and interest = principal interest =20000400=20400
1. interest rate
(Chinese name: interestrate setting unit: central bank, also known as interest rate mbth: interest rate)
Interest rate refers to the ratio of interest amount to loan amount (principal) in a certain period. Interest rate refers to the ratio of the interest amount due in each period to the par value of the borrowed, deposited or borrowed amount (called the total principal). The total interest of the lent or borrowed amount depends on the total principal, interest rate, compound interest frequency and the length of time of lending, deposit or borrowing. Interest rate is a kind of cost that borrowers need to pay for borrowed funds, and it is also the return that lenders get by delaying their own consumption and lending to borrowers. The interest rate is usually calculated as a percentage of one-year interest and principal.
2. Bank interest rate, also known as interest rate, indicates the ratio of interest to principal in a certain period. In most cases, it is expressed as a percentage. Formula: interest rate = interest/principal 100%.
3. Monthly interest rate: interest calculated on a monthly basis. Annual interest rate: the interest calculated on an annual basis.
4. Annual interest rate and its calculation formula: monthly interest rate = annual interest rate/12, annual interest rate = monthly interest rate 1. For example, the annual interest rate is 7.05%, which translates into a monthly interest rate of 7.05%/ 12=5.875%.
5. Failure to repay the bank in time will lead to overdue repayment, bad credit and the formation of black households:
(1) In the national credit information system, there is bad credit and relevant records are left.
(2) The customer needs to bear a high penalty interest.
(3) It is easy to cause legal problems.
Therefore, when the loan to the bank cannot be repaid in time, it must be made up in time and part of the penalty interest paid. Otherwise, bad credit records cannot be cleared. If blacklisted, it will have a serious impact. The blacklist of banks has a bad influence on many things, such as buying a house loan, buying a ticket and running a business.
What's the interest rate for a bank loan in case of eleven thousand?
Take the latest loan interest rate of China Bank in February 20 19 as an example. The loan interest of 1 year 1000 yuan is 430 yuan.
20 19 12 the preferential interest rate for bank loans in China is 4.3%, and the loan interest 100004.3% = 430 yuan.
Extended data
The bank loan interest rate is determined by the loan contract interest rate of banks and other financial institutions as lenders, and both parties can only determine it through consultation within the upper and lower limits of interest rates stipulated by the People's Bank of China. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease. There are three factors that determine loan interest: loan amount, loan term and loan interest rate.
The decisive factors of bank loan interest are:
1, bank cost. Any economic activity needs cost-benefit comparison. There are two types of bank costs: borrowing costs-prepaid interest on borrowed funds; Additional cost-the cost of normal business.
2. Average profit rate. Interest is the subdivision of profit, which must be less than the profit rate, and the average profit rate is the highest limit of interest.
3. Supply and demand of loan funds. If the supply exceeds the demand, the loan interest rate will inevitably fall, and vice versa. In addition, the loan interest rate also needs to consider price changes, securities returns, political factors and so on.