If calculated according to the benchmark interest rate of 5.90%: equal principal repayment: the total loan amount is 300,000.00 yuan, and the repayment amount in the first month of April 240 is 2,725.00 yuan, with a monthly decrease of 6. 15 yuan, the total interest paid is177,737.50 yuan, and the total principal and interest is 477.

Extended data:

Interest calculation

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

1. daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.

2. Monthly interest rate (‰) = annual interest rate (%)÷ 12

(two) banks can use the product interest method and the transaction interest method to calculate interest.

1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:

Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.

2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:

If the interest-bearing period is a whole year (month), the interest-bearing formula is:

① Interest = principal × year (month )× year (month) interest rate

If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:

② Interest = principal × annual (monthly) × annual (monthly) interest rate+principal × odd days × daily interest rate.

At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:

③ Interest = principal × actual days × daily interest rate

These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year. However, when calculating the actual daily interest rate, it will be calculated according to 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.

(3) Compound interest: Compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.

(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the defaulter according to the contract signed with the parties is called bank penalty interest.

(V) loans overdue liquidated damages: penalties for the defaulting party with the same nature as penalty interest.

(six) the formulation and filing of interest calculation methods

The interest-bearing settlement rules and methods for deposit and loan business formulated by national commercial banks as legal persons shall be reported to the head office of the People's Bank of China for the record, and the customers shall be informed; Regional commercial banks and urban credit cooperatives should be reported to the branches of the People's Bank of China and the central branch of the provincial capital for the record, and inform customers; County rural credit cooperatives as legal persons may, according to the actual situation of the county rural credit cooperatives, formulate the rules for interest calculation and settlement and the interest-bearing measures for deposit and loan business, and report them to the branch of the People's Bank of China and the central branch of the provincial capital for the record, and the rural credit cooperatives as legal persons shall notify the customers.

(7) Reference basis:

1. Provisions on the Administration of RMB Interest Rate (Yinfa 199977).

2. Notice of the People's Bank of China on issues related to the interest rate of RMB loans. 200325 1).

3. Notice of the People's Bank of China on Interest Calculation and Settlement of RMB Deposits and Loans (Yinfa [2004]10/No.. 2005 129).

Bank loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate in China is managed by the People's Bank of China. The bank loan interest rate refers to the benchmark interest rate set by the People's Bank of China, and the actual contract interest rate can fluctuate within a certain range on the basis of the benchmark interest rate. The loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower limits of interest rates stipulated by the Bank of China. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease.

The loan interest rate is the main basis for the parties to the loan contract to calculate the loan interest, and the loan interest rate clause is the main clause of the loan contract. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China. If the loan interest rate agreed by the parties is higher than the interest rate ceiling set by the People's Bank of China, the excess will be invalid; If the interest rate agreed by the parties is lower than the lower limit stipulated by the People's Bank of China, the lowest interest rate stipulated by the People's Bank of China shall prevail. In addition, if the lender charges any other fees except interest in violation of the regulations of the People's Bank of China, it will be punished by the People's Bank of China.

The loan interest rate is generally higher than the deposit interest rate, and the difference between them is the main source of bank profits.