The loan with equal principal and interest is calculated according to compound interest. At the settlement time of each repayment, the interest generated by the remaining principal will be calculated together with the remaining principal (loan balance), which means that the unpaid interest will also be calculated.

The monthly repayment amount is the same, in essence, the proportion of principal increases month by month, the proportion of interest decreases month by month, and the number of monthly repayments remains unchanged, that is, in the distribution proportion of "principal and interest" for monthly payment, the proportion of interest paid in the first half of the year is large, and the proportion of principal is small. After more than half of the repayment period, it gradually turns into a large proportion of principal and a small proportion of interest.

Response time: 2021-08-11. Please refer to the latest business changes announced by Ping An Bank in official website.

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