In other words, after knowing the daily interest rate, you can calculate the daily interest, monthly interest and annual interest. The current interest rate is 0.065% *1000 *1= 0.65 yuan, the monthly interest rate is 0.065% *1000 * 30 =19.5 yuan, and the annual interest rate is 234 yuan.
How high is the daily interest rate of 0.065%? Loan companies generally compare interest rates according to the annual interest rate. Here, if the daily interest rate of 0.065% is converted into annual interest rate, it is 0.065%*360=23.4%. Then compare this interest rate with the general loan interest rate, and the winner can be separated.
1, bank loan interest rate, annual interest rate of short-term loans within 1 year is 4.35%, annual interest rate of short-term loans for 1~5 years is 4.75%, and annual interest rate of long-term loans for 5 years and above is 4.9%. The interest rate of RMB loans from financial institutions will be much lower than 23.4% regardless of the term.
2. According to the law, the interest rate of private loans shall not exceed 4 times the LPR interest rate in the same period. Taking the one-year LPR of 3.7% in August 2022 as an example, the interest rate of private lending should not exceed 14.8%, then the annual interest rate of 23.4% is higher than the interest rate limited by judicial protection.
What should I do if the debt is overdue and stopped by installments? 1. Submit the application
First of all, the borrower must pay attention to submitting an application to the loan application bank. You can choose to go to the loan application bank alone immediately, or you can call the customer service hotline of the loan application bank to tell your economic situation. Negotiate with the relevant person in charge to explain the necessity of stopping staging.
Pay attention to ways and means to show that you are willing to actively repay the loan, otherwise financial institutions will often not agree to the borrower's requirements.
Step 2 clear up debts
After submitting the application, the borrower should also sort out his debts. Arrange all loans and bank debts, including early installment, interest and contract liquidated damages. After combing, according to my own calculation, at least how many issues are acceptable.
3. Give proof of poverty in economic development.
The borrower shall try to sort out a poverty certificate of economic development, which must be stamped by the borrower in the village committee or community neighborhood committee and other areas.
The purpose is to prove that the borrower is really insolvent at this stage. According to the relevant regulations, if the loan amount exceeds the cardholder's repayment ability and the cardholder has repayment ability, he can negotiate with the bank on an equal footing according to Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks.