The conversion formula of annual interest rate and monthly interest rate is: monthly interest rate = annual interest rate/12. Substituting into the calculation formula, 15.4%12 ≈ 1.28%, the annual interest rate is15.4%, and the monthly interest rate is about equal to1.28%. Suppose the loan is 10000 yuan, and the calculation formula is10000 *10/28 yuan.

What conditions does the loan need to meet?

1, at least 18 years old, with full capacity for civil conduct and valid residence certificate and identity certificate;

2. Have a stable legal income and proof, and have the ability to repay interest;

3. When the loan business needs a down payment, it has the ability to pay the full down payment;

4. If the personal loan amount is large, the collateral conditions required by the bank shall be met;

5, such as credit loans, need to have a good reputation;

6. Other conditions meeting the requirements of the bank.

What if the bank loan is not repaid?

1. The bank will take certain collection measures. In the initial phone call, if the loan is really overdue, you can explain your actual situation to the bank and try to apply for an extension, depending on different bank regulations;

1. The extension will be regarded as negative information in the credit report, indicating that there are some problems with your repayment ability, but it is still better than the overdue situation.

2, overdue for more than 90 days, if the circumstances are serious, it can be regarded as malicious overdue, and bank collection may also cause life pressure for yourself and your family, affecting the normal life of individuals and families;

3. In terms of overdue fees, there will be some fees such as liquidated damages and penalty interest, which need to be collected according to the contract. Different institutions and different loan products charge different liquidated damages or penalty interests;

4. It has an impact on personal credit records, and bad credit records become obstacles to future loans such as mortgages and car loans and credit card processing;

5. If the loan has not been sued to the court, and the court still refuses to repay the loan after the execution of the judgment, you can report it to the Supreme People's Court and enter the "list of people who have been executed because of dishonesty", which is also commonly known as the "Lao Lai list", and it will be forbidden to travel by high-speed rail.