Calculation formula of loan interest rate
1, daily interest rate = monthly interest rate /30 days = annual interest rate /360 days;
2. Monthly interest rate = daily interest rate for 30 days = annual interest rate/12 months;
3. Annual interest rate = monthly interest rate 12 months = daily interest rate of 360 days;
4. Interest = loan principal loan interest rate loan term;
5. Under the average capital method, interest = the loan interest rate of the remaining principal to be repaid;
6. Under the equal principal and interest method,
Monthly interest = the monthly interest rate of the remaining loan principal.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 interest rate) repayment months ]≤[( 1 interest rate) repayment months-1],
If the repayment period is 6 and the monthly interest rate is 1%, then (11%) 6 =1.01.0165438.
How to calculate the loan interest rate
Interest rate = interest/principal/time × 100%
For example: deposit 100 yuan,
The bank promised to pay an annual interest rate of 4.2%
Then the bank will pay 4.2 yuan interest in the second year.
The calculation formula is 100×4.2%=4.2 yuan.
The formula is: interest rate = interest ÷ principal ÷ time × 100%.
Interest = principal × interest rate× time
= 100×4.2%=4.2 yuan.
The final withdrawal 104.2= 104.2 yuan.
Extended data
Matters needing attention
1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room for it and not affecting your normal life.
2. Choose the appropriate repayment method. There are two repayment methods: equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.
3. Repay on time every month to avoid penalty interest. From the month following the initiation of the loan, the lending time of the next month is usually the repayment date. Don't default on the penalty interest because of your negligence, so that the bank can't approve the loan application again.
4. Take care of your contract and receipt, read the terms of the contract carefully, and know your rights and obligations.
How to calculate the loan interest rate?
The simplest way to calculate the interest rate is to calculate the total repayment amount first, and the monthly repayment period is 12 months, and then subtract the total repayment amount from the total loan amount to get the interest. Interest = principal interest rate. So the interest rate equals the total interest/loan.
Interest rates of different loan channels
1, credit card cash installment or cash-out: credit card holders often think of borrowing money or cash-out with their own credit cards. First of all, cashing is brushed out by some methods and requires a handling fee. Ten thousand yuan is about 60 yuan to 80 yuan. If the interest rate is calculated by stages, it will be at least above 10%.
2. Mortgage loan: At present, the interest rate of bank mortgage loan is basically between 6% and 8% according to local policies and bank policies. However, we still need collateral that meets the requirements, and we need to go through various procedures, which is more troublesome.
3. Bank credit loans: At present, many banks also provide various mobile phone credit loans, with annual interest rates ranging from 8% to 14%, which will be slightly different according to product attributes. In addition, with some repayment methods, the interest is about 15%.
4. Our company: There are already many loan companies with extremely low thresholds in the market. They only need to provide basic personal information, and they can provide loans ranging from thousands to hundreds of thousands. Low threshold will inevitably lead to high interest, and interest plus various handling fees is basically around 24%.
5. Small loan platforms: JD.COM Gold Bar, Bai Jie, Microfinance, Wanda Loan and other formal and reliable platforms all bear interest on a daily basis. The daily interest rate is about 0.05%, and the calculated annual interest rate is about 18%. There are also some mobile phone loan platforms with even higher interest rates, most of which are around 36%, and the annual interest rate of some illegal online loans can even be as high as 200%.
Simple interest and compound interest
Single interest rate means that the principal is generally fixed, and the interest is settled at one time when it expires, and the interest generated by the principal is not included in the next principal. The calculation formula of single interest rate is: principal (1 interest rate term). Simple interest is different from compound interest. Compound interest is actually a kind of interest-bearing deposit, which uses the principal and interest of the previous period as the principal of the next period, and then calculates the interest circularly. The formula of compound interest is: principal (1 interest rate) _, and n is the deposit term. For example, if the principal is 1 0,000 yuan and the monthly deposit interest rate is 1%, the calculation formula of one-year simple interest and compound interest is:10,000× (1%×12). The formula of compound interest is10000× (11%)12 =11268 yuan.
Calculation formula of real interest rate of loan
1. Calculation formula of interest: principal × annual interest rate (percentage) × deposit period.
2. Equal principal and interest method:
Calculation formula: monthly repayment amount = monthly interest rate of principal [(65438+ 10 interest rate) n/[(65438+ 10 interest rate) n- 1]
Where n represents the number of months of loan, and n represents the power of n, such as 240, representing the power of 240 (20 years and 240 months of loan).
Monthly interest rate = annual interest rate/12
Total interest = monthly repayment amount-loan months-principal
3, the law of average capital:
Calculation formula: monthly repayment amount = principal /n monthly interest rate of remaining principal.
Total interest = monthly interest rate of principal (loan months /20.5)
4. Loan interest is generally divided into annual interest rate, monthly interest rate and daily interest rate.
5. The interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth, and the daily interest rate is expressed as one thousandth.
6. Annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
Extended data:
Classification situation
The interest calculation formula is mainly divided into the following four situations:
First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate;
The second is the conversion of interest rate, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days); Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days). In addition, the use of interest rates should be consistent with the deposit term;
Third, the starting point of the interest calculation formula.
1, the starting point of savings deposit interest is RMB, and interest is not paid for cents below RMB;
2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid;
3. Except for current savings, which are settled on an annual basis and interest can be converted into principal, all other savings deposits, regardless of the duration, are paid with the principal at the time of withdrawal, excluding compound interest;
Fourth, the calculation of the deposit period in the interest calculation formula.
1, and the storage period is calculated by counting the first number and the last number;
2, regardless of the big month, small month, flat month, leap month, every month is calculated as 30 days, and the whole year is calculated as 360 days;
3. The maturity date of all kinds of deposits shall be calculated on an annual and monthly basis. If the account opening date is the missing date of the expiration month, the expiration date should be the last day of the expiration month.
Provisions for calculating the term of deposit:
1. When calculating interest, the number of days of deposit is calculated at the beginning, not at the end, that is, from the date of deposit to the day before withdrawal;
2, regardless of leap year, average year, regardless of the size of the month, 360 days a year, 30 days a month;
3. Calculated by year, month and day, the maturity date of various time deposits shall be subject to year, month and day. That is, from the deposit date to the same day of the following year is a pair of years, and the deposit date to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if you don't work on legal holidays, you can withdraw one day in advance and calculate interest at maturity. The procedure is the same as that of early withdrawal.
The calculation formula of interest: principal × annual interest rate (percentage) × deposit period.
If the interest tax is X (1-5%)
Total principal and interest = principal interest
The calculation formula of accrued interest is: accrued interest = principal × interest rate × time.
Accrued interest shall be accurate to two decimal places, and the number of interest-bearing days shall be calculated according to the actual holding days.
PS: The deposit period should correspond to the interest rate, not necessarily the annual interest rate, but also the daily interest rate and the monthly interest rate.