Secondly, the calculation method of overdue interest (compound interest+penalty interest).
For example:
10000 yuan, the monthly interest is 1000 yuan, plus the penalty interest 1000 yuan; It is the principal and interest and 12000 yuan.
One year is10000 (1+10%)12+(10000 (1+10%)/kloc-0
What is overdue loan interest?
Interest on overdue loans: refers to the penalty interest generated by loans overdue, specifically the overdue penalty interest generated by the lender's failure to repay the loan as agreed in the contract. The general operation is to increase the penalty interest by 30%-50% on the basis of the original loan interest rate, and the specific algorithm depends on the different circumstances of each case.
Calculation formula of overdue loan interest
Normal interest = principal * interest rate * years
Overdue interest rate = normal interest rate *( 1+ floating point, for example, 30% overdue is 30%)
Overdue interest = principal * overdue interest * actual overdue days
But in fact, usury such as naked loans will not abide by the above provisions.
What is a naked loan?
Naked loan, also known as naked loan, means that when borrowing money, the borrower holds a nude photo of his ID card instead of an iou. In the event of default, the lender forces the borrower to repay the loan by exposing nude photos and contacting the borrower's parents. Naked photos themselves are not articles and cannot be used as collateral. Even as collateral, such mortgage behavior is invalid because it is illegal.
Some borrowers who have no repayment ability take risks to borrow usury from lending gangs in order to obtain loans. Lending gangs privately negotiate lending rates with borrowers, asking borrowers to "take nude photos" and use some internet finance and social tools as platforms and excuses to complete illegal usury lending.
The transactions of usury gangs are nominally conducted on the Internet platform. In fact, it is a personal agreement, and private transactions are often subject to private agreements and bypass supervision.