Take the monthly interest rate of 7% as an example, and you need to pay interest of 75,600 yuan in three years.
7% generally refers to monthly interest, so the annualized comprehensive interest is 8.4%, and the interest generated by one-time repayment of principal and interest at maturity is 3,000,008.4% 3 = 75,600 yuan.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development; At the same time, banks can also obtain loan interest income and increase their own accumulation.
Repayment method
(1) Equal principal and interest repayment method: equal repayment every month, the sum of loan principal and interest. Most banks have adopted this method for housing provident fund loans and commercial personal housing loans. So the monthly repayment amount is the same;
(2) average capital repayment method: that is, the borrower distributes the loan amount to each period (month) evenly throughout the repayment period and pays off the loan interest from the previous trading day to the repayment date. In this way, the monthly repayment amount decreases month by month;
(3) Paying interest and principal on a monthly basis: that is, the borrower repays the loan principal in one lump sum on the loan maturity date (applicable to loans with a term of less than one year (including one year)), and the loan bears interest on a daily basis and the interest is repaid on a monthly basis;
(4) Repay part of the loan in advance: that is, the borrower can repay part of the loan amount in advance when applying to the bank, which is generally an integer multiple of 65,438+0,000 or 65,438+0,000. After repayment, the lending bank will issue a new repayment plan, and the repayment amount and repayment period will change, but the repayment method will remain unchanged, and the new repayment period shall not exceed the original loan period.
(5) prepayment of all loans: that is, the borrower can repay all the loan amount in advance when applying to the bank, and the loan bank will terminate the borrower's loan at this time after repayment and handle the corresponding cancellation procedures.
Article 4 of People's Republic of China (PRC) Commercial Bank Law stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and manage themselves by themselves in accordance with the principles of safety, liquidity and efficiency."
The loan of 300,000 yuan will be paid off in three years. How much is the monthly interest?
"According to the information you provided, the loan is 300,000 yuan, the loan term is 3 years, the loan interest rate is 4.75% according to the bank 1-5 years (including 5 years), and the repayment method is calculated according to the repayment method of equal principal and interest. The monthly repayment amount is 8,957.63 yuan, and the total interest is 22,474.84 yuan. "
The simple and popular understanding of loan is to borrow money with interest.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
The "three principles" refer to safety, liquidity and efficiency, and are the fundamental principles of commercial banks' loan operation. Article 4 of People's Republic of China (PRC) Commercial Bank Law stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and manage themselves by themselves in accordance with the principles of safety, liquidity and efficiency."
How much is the interest of the rural credit cooperative loan of 300 thousand for three years?
38,250 yuan.
Rural credit cooperatives belong to regional banks. Because of their small scale and low brand influence, ordinary deposits will be given higher market interest rates in order to compete with the five major banks and other commercial banks.
According to the standards of local rural credit cooperatives, the interest rate of three-year certificates of deposit can reach 4.25%, so the three-year interest of 300,000 yuan is: 30000030.0425 = 38,250 yuan.
How much is the bank's 300 thousand three-year interest?
Bank interest of 300,000 yuan for three years 3 1.500 yuan. According to relevant information, the annual interest rate of the bank is 3.5%, the interest is equal to the principal multiplied by the deposit period multiplied by the interest rate, the three-year interest is 300,000 times 3 times 3.5%, and the interest is 3 1.500 yuan.