If the annual interest rate of the loan is 3.8%, how to calculate the interest?
The annual interest rate of bank loans is 3.8%. Suppose you deposit 10000 yuan with annual interest of 385 yuan.
The annual interest rate of bank loans is 3.85%. If the calculation method of one-time repayment of principal and interest is adopted, the loan interest is 3.85% of the loan principal, and the loan term is (years). However, if you use equal principal and interest or equal principal repayment, because the formula is complicated, we will not write the formula here for the time being, and users can use the calculator provided online to calculate the corresponding interest.
In short, the loan interest rate of 3.85% is a low loan interest rate, and the bank loan can be obtained at this interest rate, which shows that the credit qualification conditions of users are excellent.
The calculation method of annual interest rate is: interest = number of years of deposit. If you deposit 65438+ 100000 yuan in the bank for two years with an annual interest rate of 3.85%, the interest after two years will be 770 yuan, and the total principal and interest will be 10770. However, if you deposit for a fixed period of one year, you can enjoy compound interest, with the interest of 385 yuan in the first year and 399.8 yuan in the second year, and the principal plus interest 10784.8. The daily interest rate is usually expressed as a few ten thousandths of the principal, calculated on a daily basis. The specific calculation formula is: daily interest rate = annual interest rate 360= monthly interest rate 30; The monthly interest rate is expressed as a few thousandths of the principal, and the interest is calculated monthly. The specific calculation formula is: monthly interest rate = annual interest rate 12= daily interest rate 30.
For example, the daily interest rate of a loan product is five ten thousandths, which means the daily interest rate is 0.05%. If it is calculated as 30 days a month and 360 days a year. Then, its monthly interest rate is 0.05%30= 1.5%, and its annual interest rate is1.5%12 =18%.
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What is the highest loan interest rate stipulated by the state?
The state stipulates that the maximum interest rate of private lending is four times the benchmark interest rate of banks, depending on the specific loan period. For example, if your loan is a one-year loan and the benchmark interest rate of the People's Bank of China is 6%, then the interest rate of private lending cannot exceed 24%, otherwise it will be illegal.
7% interest of 500,000 = 5,000,007% = 35,000 yuan, which is one year's interest.
The highest interest rate of personal loans mainly depends on two aspects. The first is what kind of loan the bank you choose has, and the second is the value of your collateral (pledge).
At this stage, all banks are controlling loans because the country has raised the reserve ratio. If you want to make personal consumption loans, it is estimated that few banks can do it, and even if you do, the interest rate is relatively high.
As for the value of collateral, if you are a real estate mortgage, the general procedure is to find an appraisal company to issue an appraisal report first, and then multiply your appraisal price by a certain proportion to calculate your loan amount.