There are usually two methods to calculate interest, namely, product interest method and transaction interest method.
1, the interest method accumulates the daily loan balance according to the actual number of days, and multiplies the accumulated product by the daily interest rate to calculate the interest.
The interest-bearing formula is: interest = accumulated interest-bearing products × daily interest rate, where accumulated interest-bearing products = total daily balance. The product interest method is mainly used to calculate the interest of deposits and loans with frequent principal changes, such as demand deposits. The interest calculation method is to calculate the interest one by one according to the determined principal and the agreed interest rate and the interest calculation formula.
2. The coupon method is generally used to calculate the interest of deposits and loans with relatively fixed principal. Such as time deposits.
If the interest-bearing period is a whole year (month), the interest-bearing formula is: interest = principal × year (month) interest rate × number of years (months). If the interest period has a whole year (month) and odd days, the interest formula is: interest = principal × annual (month) interest rate × number of years (months)+principal × daily interest rate × odd days. You can also convert the interest period into actual days to calculate interest, that is, 365 days per year (366 days in leap year), and each month is the actual number of days in the Gregorian calendar of the current month. The interest calculation formula is: interest = principal × daily interest rate × actual days.
How to calculate the interest of small loans?
Micro-loans adopt the method of daily interest, with the daily interest rate of 0.02%-0.05%, 1 10,000 yuan daily interest rate of 2-5 yuan.
At present, the credit line of micro-credit to users is between 5 million and 300 thousand, which is different according to the individual's comprehensive situation. A single loan can be 500 yuan-40,000 yuan.
On May 20 15, "Micro-loan" was officially launched on mobile QQ, and it was launched on WeChat on September 14.
By the end of 20 16, "micro-loan" has established a cooperative relationship with 25 financial institutions to share benefits and risks.
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Conditions for applying for small loans:
1,18-a natural person aged 65;
2. The borrower's actual age plus the loan application period shall not exceed 70 years old;
3. Have the ability to stabilize employment, income and repay the loan principal and interest on schedule;
4. Good credit information and no bad records;
5. Other conditions stipulated by the bank.
Baidu encyclopedia-micro-credit loans
How to calculate the interest on the loan day?
If the loan bears interest on a daily basis, the user must know the daily interest rate of the loan product. If a monthly interest rate or annual interest rate is given, then the annual interest rate needs to be calculated by the formula of monthly interest rate /30 or annual interest rate /365. Then use the loan amount * daily interest rate * loan days, so that all interest generated during the loan period can be calculated.
Of course, if there is a loan term, the total interest is calculated according to the repayment. The repayment method is generally equal principal and interest or average capital.
How to calculate the interest of 360 IOUs?
At present, 360 IOUs bear interest on a daily basis, and the daily interest rate is between 0.03% and 0.05%. Because 360 IOUs determine the daily interest rate according to the personal qualifications of borrowers, the interest of each borrower is different.
But as long as you use the formula: principal × daily interest rate × loan days, you can calculate your own interest. For example, if you borrow 10000 yuan at 360, the loan period is 3 months, and the daily interest rate is 0.05%, then the final interest to be repaid is 10000×0.05%×90 days =450 yuan.
It is worth mentioning that 360 IOUs support early repayment, but in the loan mode of interest before interest, if you repay in advance, you need to pay an additional penalty of 3% of the repayment principal.
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Is it high to borrow 360 IOUs a month for 10 thousand?
Borrow 360 IOUs a month. Is it 11 thousand high? Need to judge from many aspects:
1, depending on the loan interest rate. After the loan is successful, interest will be charged from the day the loan arrives, and will be charged daily until it is paid off. Because everyone has different qualifications and different interest rates, the minimum annual interest rate is 7.2%, which translates into a daily interest rate of 0.02% and a monthly interest rate of 0.6%, 1. 1 10,000 months minimum interest 60 yuan.
2. According to the target, the annual interest rate of bank loan products is generally not more than 5%, and the monthly interest rate is about 0.4%. 1. 1 10,000 monthly loan interest is about 40 yuan, so compared with the lowest interest rate of bank products, the interest on 360 IOUs is still slightly higher; The daily interest rate of other online loan products is about five ten thousandths, and the monthly interest rate is 1.5%. Borrow 360 loans for 11 thousand a month, which is not high.