The monthly payment is 1,043.33 yuan.

A loan of RMB 30,000, with 36 installments, and an annual interest rate of 8.4%. The monthly payment is as follows:

30000/36=833.33 yuan, and the monthly principal repayment is 833.33 yuan;

30000*8.4%=2520 yuan, the interest for one year is 2520 yuan;

The monthly interest is 2520/12=210 yuan;

The monthly repayment is Principal repayment of 833.33 yuan + monthly interest repayment of 210 yuan = monthly payment of 1,043.33 yuan.

The common repayment methods for bank loans are as follows:

1. Repayment of equal principal and interest

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Equal repayment of principal and interest means that the borrower’s monthly repayments are equal. Monthly payment = (loan principal + total loan interest) ÷ loan period (months). Since the remaining balance is not repaid each month The principal is different, so the interest in the monthly payment is different. In the early stage of repayment, the interest in the monthly payment accounts for more and the principal accounts for less. With the monthly repayment, the principal in the monthly payment becomes smaller and larger. If the amount is increased, interest will account for less and less. This repayment method is suitable for people with stable income.

2. Equal principal repayment

Equal principal repayment means that the borrower repays the same principal every month, and the interest in the monthly payment increases with the principal. It decreases month by month, so under the equal principal repayment method, the monthly payment is in a decreasing state. Compared with equal principal and equal principal and interest repayment, the total interest on the loan generated by the equal principal will be less, but the equal principal Under the gold repayment method, the initial repayment pressure is relatively low. This repayment method is suitable for current high-income people.

3. Periodic repayment of principal and interest

Periodic repayment of principal and interest refers to different repayment time units negotiated between the borrower and the bank, such as monthly, quarterly, and annual repayment. Loan actually means that the borrower divides the monthly repayment into several months and repays it together according to different financial situations. This repayment method is suitable for people with unstable income.

4. One-time repayment of principal and interest

One-time repayment of principal and interest means that the borrower repays all the principal and interest of the loan at one time on the loan date. This kind of The repayment method is usually more common among short-term loans, but this repayment method is more stringent in terms of approval.

5. Interest first, principal then and the current month’s interest must be paid off in one lump sum.

The above are several common loan repayment methods. Under different repayment methods, the total loan interest generated is different. It is recommended that you choose the repayment method that suits you according to your own situation.