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

2. Daily interest rate: The daily interest rate is called the daily interest rate and is calculated on a daily basis. The calculation method is: daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days).

3. Annual interest rate: usually in the form of percentage of principal, interest is calculated annually. Calculation method: annual interest rate = interest ÷ principal ÷ time × 100%.

4. Annualized interest rate: refers to the interest rate at which the inherent rate of return of products is discounted to the whole year, which is quite different from the calculation method of annual interest rate. Assuming that the yield of a wealth management product is one year and the yield is B, the annualized interest rate R is calculated as R=( 1B)A- 1.

5. Calculation formula of equal principal and interest: [loan principal × monthly interest rate× (1interest rate) repayment months] ÷ repayment months [( 1 interest rate) repayment months-1]

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

Extended information:

Bank loan refers to an economic behavior in which banks lend funds to people in need at a certain interest rate according to national policies and agree to return them within a specified time limit. Generally, you need a guarantee, a house mortgage, or proof of income, and your personal credit information is good before you can apply.

Moreover, in different countries and 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 quotas, working capital loans, standby loan commitments, and project loans. In Britain, industrial and commercial loans are mostly in the form of discounted bills, credit accounts and overdraft accounts.

According to different classification standards, there are different types of bank loans. For example:

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

2. According to different repayment methods, it 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 and securities broker loans.

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

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

6. According to the different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.

Short-term loans refer to loans with a loan term of 1 year (inclusive). Short-term loans are generally used for the liquidity needs of the borrower's production and operation.

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, and the longest is no more than one year; Short-term loans can only be extended once, and the extension period cannot exceed the original period.

The loan interest rate is determined according to the interest rate policy formulated by the People's Bank of China and the floating range of the loan interest rate, as well as the nature, currency, use, method, term and risk of the loan, among which the foreign exchange loan interest rate is divided into floating interest rate and fixed interest rate. The loan interest rate is indicated in the loan contract, which customers can check when applying for a loan. Overdue loans will be punished according to regulations.

The advantages of short-term loans are relatively low interest rates and relatively stable capital supply and repayment. The disadvantage is that it cannot meet the long-term capital needs of enterprises. At the same time, because short-term loans use fixed interest rates, the interests of enterprises may be affected by interest rate fluctuations.

How to calculate the loan interest formula

(1) The interest rate conversion formula for RMB business is as follows

1, daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (%) ÷ 30

2. Monthly interest rate (%) = annual interest rate (%)÷ 12.

(two) banks can use the product interest method and the transaction interest method to calculate interest:

1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:

Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.

2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:

If the interest-bearing period is a whole year (month), the interest-bearing formula is:

① Interest = principal × year (month )× year (month) interest rate

If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:

② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.

At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:

③ Interest = principal × actual days × daily interest rate

These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year. However, when calculating the actual daily interest rate, it will be calculated according to 365 days a year, and the result will be slightly biased.

Extended data

The decisive factors of bank loan interest are:

1, bank cost. Any economic activity needs cost-benefit comparison. There are two types of bank costs: borrowing costs-prepaid interest on borrowed funds; Additional cost-the cost of normal business.

2. Average profit rate. Interest is the subdivision of profit, which must be less than the profit rate, and the average profit rate is the highest limit of interest.

3. Supply and demand of loan funds. If the supply exceeds the demand, the loan interest rate will inevitably fall, and vice versa. In addition, the loan interest rate must also consider price changes, securities returns, political factors and so on.

However, some scholars believe that the upper limit of interest rate should be the marginal rate of return of funds. The factor that restricts the interest rate is regarded as the comparison between the profit growth rate of enterprises after borrowing bank loans and the loan interest rate. As long as the former is not lower than the latter, it is possible for enterprises to borrow money from banks.

1, compound interest: compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.

2. Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the non-defaulting party according to the contract signed with the parties is called bank penalty interest.

3. loans overdue liquidated damages: the nature is the same as penalty interest, and it is a punitive measure for the defaulting party.