Edit: Rong 360 finishing
Source: Rong 360
Date: 2014-06-17

Summary:

In private lending, we often hear the idea of 1 point interest and 2 points interest. How is this interest calculated? If the loan of 100,000 yuan is calculated by 2 points of interest, how much will it be paid after one year? 2 points are high? What the folks say is generally referred to as monthly interest. In terms of a few percent, 1 point is the monthly interest rate of 1%, and 2 points is the monthly interest rate of 2%. The so-called 2 points of profit, based on 1 yuan as a reference, that is, every 2 yuan a month to pay 2 cents of interest, converted into an annual interest rate is 2% * 12 = 24%. That loan is 100,000 yuan, according to

In private lending, we often hear the saying of “1 point interest” and “2 points interest”. How is this “several interest” calculated? If the loan of 100,000 yuan is calculated by 2 points of interest, how much will it be paid after one year?

The "several profit" that the people say is generally referred to as "monthly interest." In terms of a few percent, 1 point is the monthly interest rate of 1%, and 2 points is the monthly interest rate of 2%. The so-called 2 points of profit, based on 1 yuan as a reference, that is, every 2 yuan a month to pay 2 cents of interest, converted into an annual interest rate is 2% * 12 = 24%. The loan is 100,000 yuan, according to the single profit, the interest for one year is 10000*24%*1=2400 yuan; and according to compound interest, the profit after one year and 100,000*(1+2%)^12=126824.2 yuan The interest is 26824.2 yuan.

The comparison found that the interest generated by compound interest is so much, it is really called "profit, snowballing." However, in general, loans are calculated on compound interest, so "2 points interest" is indeed very high.

According to the laws of our country, the interest rate of private lending can be appropriately higher than the bank's interest rate, but the maximum can not exceed four times the bank's similar lending rate. The benchmark annual interest rate of RMB loans for financial institutions specified by the People's Bank of China for 6 months to 1 year (including 1 year) is 6.12%, which means that the annual interest rate that can be protected by private loans is 24.48%, and the monthly interest rate that can be protected is 2.04%. .

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