Calculation formula of bank loan interest:
1. Equal principal and interest:
Add up the loan interest and principal, and then spread it equally to each month of the loan term, and pay back the same money every month.
Calculation formula: monthly repayment amount = [monthly interest rate of principal (1 monthly interest rate) loan months ]/[( 1 monthly interest rate) (repayment months-1)]
Second, the average capital:
Divide the loan principal equally, and calculate the interest of the current month according to the remaining unpaid amount. The principal of each repayment remains unchanged, and the interest is getting less and less.
Calculation formula: monthly repayment amount = (principal/repayment months) (principal-accumulated principal repaid) × monthly interest rate.
Extended data:
Requirements for bank loans:
I. Personal credit loans
Personal credit loan is a popular loan method at present.
Under normal circumstances, the bank requires the borrower to have a second-generation ID card, a certificate of stable work, a certificate of income, and a certificate of loan use; Personal credit status is good; There are also certain restrictions on the income of borrowers. The average monthly income of ordinary borrowers is not less than 4000 yuan. Submit the relevant application materials, and the bank can apply for a loan with a monthly income of 5-8 times after approval.
Second, housing mortgage loan.
The reason why more and more people choose real estate mortgage loan is that the loan interest rate is generally the benchmark interest rate, and there is less pressure to repay the loan.
Generally speaking, in addition to the strong requirements on the income and credit of the lender, the service life of the house should be less than 20 years and the house area should be more than 50 square meters; The house is highly mobile; The amount of mortgage loans shall generally not exceed 70% of the assessed value of the house.
In this way, after the relevant information is submitted to the bank for approval, you can apply for a loan with a maximum of150,000 and a maximum term of 20 years.