It is more convenient to apply for policy loans now. If you have a policy, you can try to apply for a policy loan when you need capital turnover. Many people don't know much about this, so what is the interest on the policy loan? Let's take a look.

A policy loan is a loan secured by the cash value of the policy. The interest of Ping An Bank's policy loan mainly depends on the loan interest rate, loan amount and loan term applied by the borrower. Expressed by the calculation formula: loan interest = loan amount × loan interest rate × loan term.

The policy loan interest of different platforms is different. Suppose someone goes to Ping An Bank to apply for a policy loan, the annual interest rate is 4.25%, the loan amount is 20,000 yuan, and the loan term is one year, so the total interest generated is 20,000× 4.25 %×1= 850 yuan.