How is a commercial loan calculated?
Commercial loans (commercial loans) are a common financing method for home purchase, business or other commercial purposes. The calculation method involves many factors such as interest rate, repayment method, loan term, etc. This article will combine recent hot financial topics to provide you with a detailed analysis of the calculation method of commercial loans and provide structured data reference.
1. Core elements of commercial loan calculation
The calculation of commercial loans is mainly based on the following three core elements:
| elements | Description |
|---|---|
| Loan principal | The initial loan amount requested by the borrower |
| loan interest rate | Annual interest rate (LPR floating or fixed interest rate) |
| repayment period | Repayment period calculated monthly or annually |
2. Recent hot topics: The impact of LPR changes on commercial loans
In the past 10 days, the loan prime rate (LPR) announced by the People's Bank of China has triggered widespread discussion. Take October 2023 as an example:
| term | LPR interest rate | Changes from last month |
|---|---|---|
| 1 year term | 3.45% | flat |
| More than 5 years | 4.20% | down 0.1% |
The reduction in LPR means that commercial loan interest rates may be reduced. Take a 1 million loan as an example:
| Interest rate changes | Monthly payment difference (equal principal and interest) | Total Interest Difference (30 Years) |
|---|---|---|
| 4.30%→4.20% | About 58 yuan/month | About 21,000 yuan |
3. Specific calculation methods for commercial loans
1. Equal principal and interest repayment method
The monthly repayment is fixed and calculated as:
Monthly payment = [Loan principal×monthly interest rate×(1+monthly interest rate)^number of repayment months] ÷[(1+monthly interest rate)^number of repayment months-1]
| loan amount | interest rate | term | monthly payment |
|---|---|---|---|
| 1 million yuan | 4.2% | 30 years | 4890.79 yuan |
2. Equal principal repayment method
The fixed principal + interest on the remaining principal are returned every month, with the first month’s monthly payment being the highest and decreasing month by month.
First month’s monthly payment = (loan principal ÷ number of repayment months) + (loan principal × monthly interest rate)
| loan amount | interest rate | term | First month monthly payment |
|---|---|---|---|
| 1 million yuan | 4.2% | 30 years | 6277.78 yuan |
4. Things to note when calculating commercial loans
1.Early repayment calculation: Some banks charge liquidated damages (usually 1-3 months interest)
2.interest rate floating cycle: LPR interest rate is adjusted every January 1 or the loan date
3.Actual cost calculation: Need to include additional costs such as evaluation fees, insurance premiums, etc.
| Additional charges | reference standard |
|---|---|
| Appraisal fee | 0.1%-0.5% loan amount |
| Mortgage registration fee | 80-500 yuan/item |
5. New developments in commercial loan policies in 2023
In light of recent hot topics, attention should be paid to the following policy changes:
1. Many places have canceled the "house subscription and loan subscription" policy, and the interest rate for first-time home commercial loans can be as low as 3.8%
2. The interest rate adjustment for existing mortgage loans has been launched on September 25.
3. Supervision of business loans and consumer loans has been strengthened, and risks of illegal operations need to be prevented
Through the above structured data and analysis, you can have a clearer grasp of the commercial loan calculation method. It is recommended to use the bank's official calculator to make accurate calculations before taking out a loan, and choose an appropriate loan plan based on your repayment ability.
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