Due to the change of repayment method and the increase of repayment frequency, the total repayment amount of the borrower has been effectively reduced, the repayment period has been significantly shortened, and customers can save a lot of interest during the repayment period.
At present, "biweekly mortgage" is mainly applicable to the mortgage and mortgage loan of future houses, such as mortgage loan and mortgage repayment of first-hand and second-hand buildings.
In the "sub-mortgage" business, if the customer borrows a sum of 500,000 yuan from the bank, according to the loan term of 30 years and the benchmark interest rate of 6. 12%, the traditional monthly repayment method is chosen, and the monthly repayment is 3,036 yuan; If "Biweekly Repayment" is selected, the repayment amount every two weeks is 15 18 yuan, which is equivalent to half of the original monthly payment.
However, due to frequent contributions, the reduction of principal has been accelerated. Finally, the borrower can save interest expenses 1 15 186 yuan, and the interest saved ratio is as high as 19.42%.
At the same time, due to frequent contributions, the reduction of principal is accelerated, and the repayment is about 26 times a year (equivalent to 13 months' monthly payment). The borrower can pay off the loan in only 24.7 years, which is 5.3 years shorter than the ordinary repayment.
The calculation formula is that 24 years is 8766 days (assuming that every 4 years happens to be a leap year), and 644 periods are 90 16 days.
There are still 250 days and 8 months 10 days, 2.5 months more than the monthly payment of 24.5 years.
15 18.52 yuan.
If the bank's daily interest rate is 6. 12%/365, then the biweekly payment for 500,000 years is 1506.52 yuan, while the current daily interest rate is 6. 12%/360, then it is1518.
Monthly mortgage payment
Two-week supply
Save interest
Preservation ratio
gain time
/kloc-0 0 year
558 1
2780
16373
9.65%
12 months
20 years
36 17
18 12
52580
14.36%
33 months
30 years
3036
15 18
1 15 186
19.42%
64 months
Disadvantages of biweekly supply: 1.
Repayment once every two weeks. If you pay weekly or biweekly, I suggest you pay biweekly, otherwise your fund arrangement will be very troublesome. Sometimes you have to pay back the money three times a month. Can you handle it?
2。
Biweekly repayment requires much more money than monthly payment, and those who forget or have no repayment may be much higher than monthly payment.
It is said that the penalty interest paid every two weeks is higher than the average.
I'm confident in my financial arrangement, but I think it's still too difficult to pay every two weeks.
Advantages: 1
It is definitely a good choice for friends whose weekly salary doubles.
2。
Biweekly payment is basically the amount of one year ago 13 months (the difference of one day per year), which is just right for many units with double salary at the end of the year.
This is equivalent to paying back the money in advance at the end of each year.
This is also good for the bank's capital arrangement, otherwise it will be difficult for the bank to repay the loan in advance at the end of each year.
3. Shorten the repayment period
4. Save interest expenses
5. The repayment pressure is basically unchanged.
Benefits of biweekly payment: 1.
With the increase of the real interest rate, the bank's income will definitely increase (the relativity depends on how much the cost increases, because the returned money has to be lent out to obtain income, and biweekly payment is faster than ordinary loan repayment.
Lending requires marketing costs.
)
2。
The acceleration of principal recovery will reduce the loan risk of banks.
3。
Attract more customers through publicity, or our customers will transfer (so there will be a handling fee of two thousandths, and 500,000 is 1000).