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Second, what is the interest on the renovation loan of 65438+100000 yuan per year?
Decoration loan is a loan with relatively low interest rate. Usually, the monthly interest rate fluctuates around 0.25%. The lowest may be as low as 0.2 1%, that is, the loan 1 ten thousand yuan, and the monthly interest is 2 10 yuan. The annual interest rate is 2520 yuan, and the annual interest rate is about 6%, but many people can't get the low interest rate of 0.2 1%.
If the monthly interest rate is 0.25% and the loan is 6,543,800 yuan, what is the interest for five years? I believe many people are concerned about this issue, and I will focus on it below.
There are two repayment methods for decoration loans, one is equal principal and interest repayment, and the other is equal principal and interest repayment. The interest calculation methods of the two repayment methods are different.
1. Waiting for interest repayment. Decoration loans are mostly repaid with equal interest, and the principal and interest paid each month are fixed. In other words, the interest will not decrease with the decrease of the loan principal.
The loan is 6,543,800 yuan, with a monthly interest rate of 0.25%, which will be repaid in five years (60 installments) with the same principal and interest each month.
The monthly interest is 65438+ 10,000× 0.25% = 250 yuan; The annual interest is 250× 65438+February =3000 yuan; The interest for five years is 3000 yuan × 5 =1.5000 yuan.
The repayment principal in June is 654.38+ ten thousand ≈ 654.38+0666.67 yuan; The principal to be repaid in one year is1666.67× 65438+February ≈ 20,000 yuan; The principal to be repaid in five years is 20000.04×5≈65438+ ten thousand yuan.
Monthly principal interest =1666.67250 =1916.67 yuan; The principal interest to be repaid every year =1916.67×12 = 23,000.04 yuan; The principal interest to be repaid in five years = 23,000.04× 5 ≈11.5 million yuan.
Therefore, if the loan is 6,543,800 yuan and the monthly interest rate is 0.25, the interest is 6,543,800 yuan, the principal is 6,543,800 yuan, and the total repayment amount is 6,543,800 yuan+0.10.5 million yuan.
3. What is the interest rate of the renovation loan and how long can it be used?
The decoration loan amount is appropriate and the interest rate is relatively low. The renovation loan interest rate of ICBC and CCB is generally around 0.3 1-0.37. If the monthly interest rate is 0.3 1, the monthly repayment amount is = 3 10 10000/60 =
Decoration loans can generally have a loan term of 1-5 years, but they can also be repaid in installments according to personal circumstances. I hope my answer can help you.