Calculation of annualized interest rate of bank loans
1. monthly interest rate: that is, the interest calculated on a monthly basis. The calculation method is: monthly interest rate = annual interest rate ÷ 12 (month).
2. Daily interest rate: The daily interest rate is called the daily interest rate, which is calculated on a daily basis. Its calculation method is: daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).
3. Annual interest rate: usually in the form of a percentage of the principal, the interest is calculated in years. The calculation method is: annual interest rate = interest ÷ principal ÷ time × 100%.
4. Annualized interest rate: refers to the interest rate that the product's inherent rate of return is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the yield of a wealth management product is one year and the yield is B, the annualized interest rate R is calculated as r = (1b) A- 1.
5. Calculation formula of equal principal and interest: [loan principal× monthly interest rate× (1interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months]
6. Average fund calculation formula: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.
Extended data:
Calculation method of bank loan interest:
At present, there are two main repayment methods for buying a house by loan: equal principal and interest and average principal.
Matching principal and interest repayment method:
How to calculate the annual interest rate of loan interest?
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.
Extended data:
The loan interest rate is the interest rate charged by banks and other financial institutions to borrowers when they issue loans. There are roughly three categories: the loan interest rate of the central bank to commercial banks; The loan interest rate of commercial banks to customers; Interbank lending rate
The decisive factors of bank loan interest are:
① Bank cost. Any economic activity needs cost-benefit comparison. There are two types of bank costs: borrowing costs-prepaid interest on borrowed funds; Additional cost-the cost of normal business.
② Average profit rate. Interest is the subdivision of profit, which must be less than the profit rate, and the average profit rate is the highest limit of interest.
(3) the supply and demand of borrowing money and funds. If the supply exceeds the demand, the loan interest rate will inevitably fall, and vice versa.
In addition, the loan interest rate must also consider price changes, securities returns, political factors and so on. However, some scholars believe that the upper limit of interest rate should be the marginal rate of return of funds. The factor that restricts the interest rate is regarded as the comparison between the profit growth rate of enterprises after borrowing bank loans and the loan interest rate. As long as the former is not lower than the latter, it is possible for enterprises to borrow money from banks.