The provident fund was adjusted from the loan amount of 1 in July this year to the maximum loan of 600,000.
The interest rate of provident fund loans is 4.86, and the interest rate of commercial loans is 7. 2. The preferential interest rate for the first commercial loan is 6. 12.
You are talking about the average principal and equal principal and interest of commercial loans, and provident fund loans are based on the minimum repayment amount and the average monthly repayment amount, not the average principal and equal principal and interest. The minimum repayment amount for you is no less than the minimum repayment amount every month. Pay back as much as you want. The average monthly repayment is to distribute the principal and interest to you equally. Interest on provident fund is calculated on a monthly basis. For example: (You borrow 200,000 yuan, and the minimum repayment is 1 1,000 yuan, but you repay 5000 yuan every month. All the extra principal will be deducted from 200,000 next month, and the interest will be recalculated for the rest. If you borrow 0.2 million/200 thousand and pay it off in 20 years or 5 years, you will only receive interest for 5 years.
Commercial loans:
Matching principal and interest repayment method: that is, the borrower repays the loan principal and interest with the same amount every month.
Average repayment method: that is, the borrower repays the principal in equal amount every month, and the loan interest decreases month by month.
The difference between two repayment methods:
The average capital repayment method keeps the principal unchanged in each repayment amount during the whole repayment period, and the repayment interest decreases month by month; The total principal and interest decreases month by month. This repayment method has great pressure on early repayment and is suitable for people with higher income or who want to repay in advance.
Matching principal and interest repayment method: the principal in each repayment amount is different, the prepayment amount is small, and the total monthly principal and interest is equal. This repayment method takes a long time because the repayment speed of the principal is relatively slow and the total interest of repayment is higher than that of the general principal repayment method with the same term.
At present, there are two main repayment methods for individual housing loans: equal principal and interest repayment method and average principal repayment method. Many people mistakenly think that the average capital repayment method can save interest because they don't understand the principle of bank interest calculation. Actually, that's not the case at all.
1. What factors determine the amount of loan interest?
As we all know, every day you deposit money in the bank, you will get interest. The more money you save, the more interest you will get. Similarly, the same is true for loans. If the bank loan exceeds one day, it will pay interest for one more day. The larger the loan amount, the more interest will be paid to the bank.
The calculation formula of bank interest is: interest = amount of funds × interest rate × occupied time.
Therefore, the amount of interest, under the condition of constant interest rate, can only be determined by the time and amount of funds actually occupied, but not by which repayment method. This is the unchangeable truth!
Different repayment methods are only set to meet the different needs or consumption preferences of people with different incomes, different ages and different consumption concepts. Its essence is nothing more than "chop and change" or "chop and change" to repay the loan principal first, which leads to the long-term use of the loan principal and short-term use, and then affects the increase and decrease of interest with the change of the actual amount of funds occupied and the length of the term.
It can be seen that no matter which repayment method is adopted, banks do not do business at a loss, and customers do not have the benefit of saving interest expenses.
Second, the comparison between the equal principal and interest repayment method and the average capital repayment method.
1, equal repayment method, that is, the borrower repays the loan principal and interest in equal amount every month, in which the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.
Because the monthly repayment amount is equal, in the initial monthly repayment of the loan, after excluding the monthly settlement interest, the loan principal is less; In the later stage of the loan, due to the continuous reduction of the loan principal, the loan interest is continuously reduced in the monthly repayment amount, and the monthly repayment of the loan principal is more.
This repayment method actually takes up more bank loans and takes longer. At the same time, it is also convenient for borrowers to reasonably arrange their monthly life and financial management (such as renting a house, etc.). ). It is undoubtedly the best choice for those who are proficient in investment and are good at "taking Qian Shengqian as their home"!
2. Average capital repayment method, that is, the borrower repays the loan principal with the same amount (loan amount/loan months) every month, calculates the monthly loan interest according to the remaining loan principal at the beginning of the month, and settles it every month, and the sum of the two is the monthly repayment amount.
Because the monthly repayment of the principal is fixed, the monthly loan interest decreases month by month with the decrease of the principal balance, so the average capital repayment method has a large monthly repayment amount at the initial stage of the loan, and then decreases month by month (monthly repayment amount = monthly repayment of the principal × monthly interest rate). For example, 654.38 million yuan, 15-year provident fund loan, the monthly repayment amount of the equal repayment method is 760.40 yuan, while the first month repayment amount of the average capital repayment method is 923.06 yuan (a decrease of 2.04 yuan per month), which is higher than the former 163.34 yuan. Because the latter repaid part of the loan principal in advance, it actually reduced the occupation and shortened the occupation of the bank's money. Of course, the loan interest is generally small (10 year 36 13.55 yuan), which does not mean that the borrower has gained any additional benefits!
This repayment method is suitable for people whose living burden will be heavier and heavier (pension, medical care, children going to school, etc.). ) or income is expected to decrease gradually.
It can be seen that the repayment method in average capital is not an option to save interest. If there is really a good way to save interest, it is to learn to spend rationally, according to one's own economic strength, to live within one's means, to borrow as little as possible and to borrow short money. This is the only feasible way.
In short, the basis of comparison is different, and the comparison itself has no practical significance. If we insist on comparing two different repayment methods and find out which one pays less interest than the other, it will only mislead and confuse borrowers!