How to calculate bank loan interest rate

1. Monthly interest rate: that is, the interest calculated on a monthly basis. The calculation method is: monthly interest rate = annual interest rate ÷ 12 (months).

2. Daily interest rate: The daily interest rate is called the daily interest rate, and is calculated with the day as the interest calculation period. The calculation method is: daily interest rate = annual interest rate ÷ 360 (days) = monthly interest rate ÷ 30 (days).

3. Annual interest rate: interest is usually calculated annually as a percentage of the principal. The calculation method is: annual interest rate = interest ÷ principal ÷ time × 100%.

4. Annualized interest rate: refers to the interest rate that discounts the product’s inherent yield to the whole year, which is quite different from the calculation method of annual interest rate. Assume that the yield period of a financial product is year A and the yield is B, then the annualized interest rate R is calculated as R=(1B)A-1.

5. Calculation formula for equal amounts of principal and interest: [Loan principal × monthly interest rate × (1-month interest rate) number of repayment months] ÷ number of repayment months [(1-month interest rate) number of repayment months - 1]

6. Calculation formula of average funds: monthly repayment amount = (loan principal ÷ number of repayment months) (principal - cumulative amount of principal repaid) × monthly interest rate.

Extended information:

Bank loan refers to a type of bank loan that lends funds to people in need at a certain interest rate in accordance with national policies and agrees to return them within a specified period of time. economic behavior. Generally, a guarantee, house mortgage, or proof of income and good personal credit are required to apply.

Moreover, in different countries and in different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan lines, working capital loans, standby loan commitments, project loans, etc. , and industrial and commercial loans in the UK mostly take the form of bill discounts, credit accounts and overdraft accounts.

There are different types of bank loans based on different classification standards. For example:

1. According to different repayment periods, they can be divided into short-term loans, medium-term loans and long-term loans;

2. According to different repayment methods, they can be divided into demand loans , term loans and overdrafts;

3. According to the purpose or object of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans, securities broker loans, etc.

4. According to different loan guarantee conditions, it can be divided into bill discount loans, bill mortgage loans, commodity mortgage loans, credit loans, etc.

5. According to the loan amount, it can be divided into wholesale loans and retail loans;

6. According to the different interest rate agreement methods, it can be divided into fixed-rate loans and floating-rate loans, etc. .

Short-term loans refer to loans with a loan term within 1 year (including 1 year). Short-term loans are generally used for the borrower's working capital needs for production and operations.

The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of short-term working capital loans is generally about half a year, with the longest term not exceeding one year; short-term loans can only be extended once, and the extension cannot exceed the original term.

The loan interest rate is determined according to the interest rate policy and loan interest rate floating range formulated by the People's Bank of China, and based on factors such as the nature, currency, purpose, method, term and risk of the loan. The foreign exchange loan interest rate is divided into floating interest rate and Fixed interest rate. The loan interest rate is stated in the loan contract, and customers can check it when applying for a loan. Overdue loans are subject to penalty interest as prescribed.

The advantage of short-term loans is that the interest rate is relatively low and the supply and repayment of funds are relatively stable. The disadvantage is that it cannot meet the long-term funding needs of the enterprise. At the same time, since short-term loans have fixed interest rates, corporate interests may be affected by interest rate fluctuations.

Loan annual interest rate calculator formula

The annual interest rate calculation process is as follows: annual interest rate = monthly interest rate × 12 months = daily interest rate × 360 days (calculated as 360 days per year ). Calculated based on the daily interest rate of 0.05%, the annualized interest rate = 0.05% × 360 days = 18%, and the loan is 10,000 yuan, then the interest for one year is 18% × 10,000 yuan = 1,800 yuan.

Bank of China loan interest rate calculator

Please follow the "Bank of China Micro Banking" WeChat official account and select "Micro Finance - Function Hall - Financial Tools and Information Inquiry - in the menu below "Loan Calculator" function, follow the prompts on the page to enter the calculation conditions for query.

The above content is for your reference, please refer to actual business regulations.

What is the formula for calculating loan interest? What is the interest calculator?

The formula for calculating the annual interest rate of a loan is: interest = annual interest rate for the loan amount. If the loan is RMB 100,000, the term is 1 year, and the annual interest rate is 4.35%, then the interest that needs to be repaid is: 10000014.35 = 4350 yuan. It is recommended that you calculate the interest rate yourself before taking out a loan.

Loan means that banks, credit unions and other institutions lend money to units or individuals who use the money, and generally stipulate interest and repayment dates.

Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.

Interest refers to the remuneration paid by the borrower to the lender for the right to use funds. It is the use price of capital (that is, the loaned principal) within a certain period of time. Loan interest can be calculated in detail through the loan interest calculator.

In civil law, interest is the legal interest on principal.

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How to calculate the mortgage calculator

1. Equal principal amount

Total interest = (number of installments 1) × total loan amount × monthly interest rate ÷ 2,

Monthly payment per period = monthly principal repayment, monthly interest repayment,

monthly repayment Principal = total loan amount ÷ number of installments,

Monthly interest repayment = [Total loan amount - monthly principal repayment (current number of installments - 1)] Monthly interest rate,

month Interest rate = annual interest rate ÷ 12 months.

2. Equal principal and interest

Total interest = number of installments, monthly payment per installment - loan principal,

monthly payment per installment = [total loan amount × monthly interest rate × (1-month interest rate)^number of installments]÷[(1-month interest rate)^number of installments-1],

where "^" represents the power, which is an operation method in mathematics, such as 2 ^12 means that the number 2 needs to be multiplied 12 times. You can use calculators and other tools to calculate by yourself.

2. Give an example to illustrate the calculation process

Assume that the total loan amount is 240,000, the loan term is 20 years, that is, it will be repaid in 240 installments, the annual interest rate of the loan is 4.8%, and the principal amount is equal to Then:

1. Monthly interest rate = 4.8% ÷ 12 months = 0.4%,

2. Monthly principal repayment = 240,000 ÷ 240 = 1,000 yuan ,

3. Total interest = (2401) 2400000.4% ÷ 2 = 115680 yuan,

4. First month monthly payment = 1000 (240000-10000) 0.4% = 1960 yuan,

5. Monthly payment for the second month = 1,000 (240,000-10,001) 0.4% = 1,956 yuan,

6. Monthly payment for the third month = 1,000 (240,000-10,002) 0.4%=1952 yuan,

How to use the bank loan interest rate calculator? What is the use of the loan interest rate calculator?

If you want to calculate the interest rate of a bank loan and the interest earned, you can use a general calculator to calculate it. However, friends who have done calculations will find that the calculators we usually use are more complicated to calculate. , sometimes you will make a mistake accidentally and have to calculate it several times. In fact, you may not have noticed that a bank loan interest rate calculator has appeared on the market.

If you want to calculate the interest rate of a bank loan and the interest earned, you can use a general calculator to calculate it. However, friends who have done calculations will find that the calculators we usually use are more complicated to calculate. , sometimes you will make a mistake accidentally and have to calculate it several times. In fact, you may not have noticed that a bank loan interest rate calculator has appeared on the market. So how to use the bank loan interest rate calculator? What is the use of loan interest rate calculator?

How to use the bank loan interest rate calculator

The mortgage interest rate calculator can help users who have completed mortgage procedures before to determine whether the amount deducted by the bank every month is correct; when encountering interest rate adjustments At that time, did the bank implement the new interest rate in accordance with the regulations, and how much did the new monthly repayment amount adjust to? Nowadays, mortgage interest rate calculators can be found on many websites. Mortgage interest rate calculators generally calculate in the following two ways:

Equal principal and interest repayment: Add the total principal and interest of the mortgage loan and then spread it evenly over each month of the repayment period. As a repayer, you pay a fixed amount to the bank every month, but the proportion of principal in the monthly repayment increases month by month, and the proportion of interest decreases month by month.

Equal principal repayment: spread the principal into each month, and pay off the interest between the last trading day and the current repayment date. Compared with equal principal and interest, this repayment method has lower total interest expenses, but more principal and interest are paid in the early stage, and the repayment burden decreases month by month.

What is the use of the loan interest rate calculator?

1. Depending on the loan amount and loan period, there is generally a difference of at least 10,000 yuan. How to choose a mortgage loan method that suits you based on your own income and expenditure conditions, and how to save yourself interest to the maximum extent, is something that many home buyers hesitate to do when applying for a mortgage loan;

2. For users who have completed the mortgage procedures before, is the amount deducted by the bank every month correct? When the interest rate is adjusted, does the bank implement the new interest rate in accordance with regulations, and what is the new monthly repayment amount? When using personal With appropriate settings and selections, the housing mortgage loan calculator can completely and accurately simulate your mortgage repayment situation in the bank;

3. Consumers can have a clearer understanding of the situation by using this type of software. Which method is more suitable for your own mortgage loan (equal principal and interest, equal principal; provident fund loan, commercial loan; mixed loan); every month, you can know the specific deduction amount of the bank for that month (including the principal deducted for that month, Interest repaid in the current month);

4. Users can also set the bank's loan interest rate or discount the bank's interest rate. Of course, they can also be calculated based on the software's default loan interest rate of RMB financial institutions over the years.

The above is how to use the bank loan interest rate calculator? What are the uses of the bank loan interest rate calculator? The usage of the bank loan interest rate calculator is actually very similar to the calculator we usually use. Through my detailed introduction above, I believe everyone also understands the differences, and can also use it in the future. Use the bank loan interest rate calculator correctly. As for the use of this calculator, I believe everyone is already aware of it.