Because the total repayment days in the first month are less than one month. The first month is calculated from the day the bank lends money to the date of your first deduction.

how to calculate the monthly repayment amount of mortgage?

method 1: use the formula to calculate. At present, there are two common repayment methods of bank loans: equal principal and interest repayment and equal principal repayment. Their monthly repayment formula is:

equal principal and interest repayment: monthly repayment amount = [loan principal x monthly interest rate (1+ monthly interest rate) months of repayment ]/[(1+ monthly interest rate) months of repayment -1 ]

equal principal repayment: monthly repayment amount = (loan principal/months of repayment)+(principal-accumulated repaid principal) X monthly interest rate

Method 2: Use a loan calculator to calculate

In fact, the loan calculator is the easiest way to calculate the monthly payment. Now all banks and loan websites have related loan calculators. As long as the borrower chooses the repayment method according to the page prompts and inputs the loan amount, loan term and loan interest rate, the monthly payment and interest can be easily calculated.