After applying for a housing loan from a bank, people usually have to pay a lot of interest. What people are more concerned about is how much interest they need to pay to repay the mortgage. Next, Bian Xiao will briefly introduce to you how much mortgage interest is generally.
1, the interest of mortgage is usually closely related to the bank loan interest rate. According to relevant national regulations, the loan term of our bank is within 1 year, and its loan interest rate is 4.35%; If our loan term is 1-5 years, then the interest rate of the mortgage is 4.75%; If our loan term exceeds 5 years, the interest rate is 4.9%. You can also choose a provident fund loan to buy a house, and its interest rate is usually lower than that of commercial loans. If the term of the provident fund loan is less than 5 years, the interest rate is 2.75%; The loan term is over 5 years and the interest rate is 3.25%.
2. Usually, the bank's mortgage interest rate will rise or fall according to the basic interest rate. Because of the influence of the 20 18 property market regulation policy, the mortgage interest rates of banks all over the country have been raised. According to the statistics of relevant institutions, the average interest rate of the first suite in China reached 5.69% from 2065438 to August 2008, including 5. 16% in Shanghai, 5.39% in Xiamen and 5.47% in Beijing. The average interest rate in Guangzhou is 5.55% and so on.
3. According to the statistics of relevant institutions, the interest rates of most banks in China rose by 15-20%. Among them, 128 banks' interest rates rose by 20%, and 28 banks' interest rates rose by 30%. The interest rates of the first suite of ABC, Bank of Communications and China Construction Bank rose by 15%, and the interest rates of the second suite rose by 20%. The interest rates of the first and second suites of ICBC and Postal Savings Bank rose by 20%.
At present, there are two repayment methods of mortgage: equal principal and interest and average principal. Interest = principal × actual days × daily interest rate or total interest = monthly repayment amount-loan months-principal. If we borrow 6,543,800 yuan, the loan term is 20 years, and the interest rate is 5.47%, and choose the repayment method of equal principal and interest, then the interest we need to repay is 646,865.60 yuan. The average capital repayment interest is 549,278.73 yuan.
Bian Xiao Abstract: What is the general mortgage interest? Bian Xiao introduces it here. I hope that after reading this article, I can provide you with reference. We can also ask the staff of the loan bank to help us calculate the interest on the mortgage.
How to calculate the interest on housing loan?
Loan interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks. The calculation formula of interest is:
Interest = principal × interest rate× deposit period (i.e. time).
The calculation of mortgage interest will be different because of the different loan methods and mortgage repayment methods.
According to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average principal.
How to calculate the mortgage interest? First of all, we should understand the basic knowledge of interest.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
Daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.
Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
Extended data:
Calculation method
Tool description
1, operation steps:
Step 1: First, choose whether your repayment method is average capital or equal principal and interest, and fill in the commercial loan term, loan amount and actual loan interest rate;
Step 2: Select whether to display repayment details, and click "Calculate" to get detailed information such as monthly repayment amount, total loan interest, total repayment amount, etc.
point out
1. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans.
2. Calculate the monthly payment, total interest and total repayment of commercial loans when choosing the repayment method of average capital and equal principal and interest.
According to the repayment formula of general mortgage loans, it can be divided into two types:
I. Calculation formula of equal principal and interest:
Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.
It should be pointed out that:
1, the maximum amount of urban provident fund loans should be combined with local conditions;
2. For residents who have borrowed money to buy a house but whose per capita area is lower than the local average, and then apply for buying a second set of ordinary self-occupied housing, the preferential policies for buying ordinary self-occupied housing with the first set of loans shall be implemented mutatis mutandis.
Second, the average capital calculation formula:
Monthly repayment = monthly principal, monthly principal and interest.
Monthly principal = principal/repayment months
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
Formula description
According to the above formula
Principal: total loan amount
Number of repayment months: loan term X 12. For example, for a loan of 10 years, the repayment period is 10X 12= 120 months.
Monthly interest rate: monthly interest rate = annual interest rate/12.
Annual interest rate: that is, in the hot topic of mortgage discussion, the figure obtained after the base interest rate is 30% off and 8.5% off.
Cumulative repayment amount: the cumulative repayment amount in the first month of average capital repayment law is 0.
For example: 2009 annual interest rate table
Basic annual interest rate: 5.94%
15% annual interest rate: 5.05%
30% annual interest rate: 4. 16%
Annual interest rate of provident fund: 3.87%
explain
Mr. Wang borrowed 400,000 yuan from the bank to buy a house and paid it off in 20 years. The bank gave Mr. Wang a 30% interest rate.
If the annual interest rate is changed to monthly interest rate, the monthly interest rate is 4.16%/12 = 0.00347.
Average capital repayment method:
Monthly principal = 400,000/240 =1666.67
Monthly principal and interest = 400,000× 0.00347 =1388.
Repayment in the first month =1666 438+0388 = 3,054.67 yuan.