Do you use provident fund or commercial loan for your loan?
Provident funds are now easier to borrow,
It is difficult to borrow commercial loans now \
The current interest rate of provident fund loans is about five points.
The interest rate of commercial loans is around 8 points.
There are also two repayment methods, namely, matching principal and interest repayment method and average capital repayment method.
Matching principal and interest repayment method is to repay the same amount of loans (including principal and interest) every month during the repayment period, so that because the monthly repayment amount is fixed, the expenditure of family income can be controlled in a planned way, and it is also convenient for each family to determine the repayment ability according to their own income.
The repayment method of equal principal is to repay the principal in equal amount every month, and then calculate the interest according to the remaining principal. So at the beginning, because the principal is large, interest will be paid more, so the repayment amount will be large at the beginning, and then it will be reduced every month. The advantage of this method is that because the initial repayment amount is large, the interest expense will be reduced, which is more suitable for families with strong repayment ability. 、
General commercial loans pay interest first,
So I can't calculate your monthly payment for you.