Generally when it comes to borrowing money, loans will be involved in the issue of interest rates, through the agreement of the interest rate, and at the same time in conjunction with the actual situation, such as the amount of the principal, borrowing period, etc., then you can ultimately calculate the amount of interest to be borne. Then what exactly is the meaning of this interest rate? If you are not very clear, you can follow the editor together in the following to understand.
One, what does the interest rate mean
Between natural persons, natural persons and non-financial institutions, legal persons or other organizations, belonging to the private lending. In accordance with the provisions of the Contract Law, the hospitality contract is the borrower to the lender to borrow money, due to return the loan and pay interest on the contract. The purpose of the lender to lend money to the borrower, in general, is to obtain interest. From the borrower's point of view, the interest rate is the unit cost of using money, the price the borrower pays to the lender for using the lender's money. From the lender's point of view, the interest rate is the rate of compensation the lender receives for lending money. In fact, the interest rate is the ratio of interest to principal.
Two, interest is how to calculate
(a) If the interest rate with i, with I that the amount of interest, with P that the principal, then the interest rate can be expressed by the formula: i = I / P. A unit of time interest is equal to the principal multiplied by the interest rate. For example: monthly interest rate of 20 ‰, 10000 yuan monthly interest is 200 yuan. Calculation formula: 10000 yuan × 20 ‰ = 200 yuan. In general, the interest rate according to the measurement of the term of the standard is different, the expression of the annual interest rate, monthly interest rate, daily interest rate.
(ii) According to the industry rules, the daily interest rate is expressed in ten thousandths ( ?) to express, the monthly interest rate is expressed in thousandths (‰), and the annual interest rate is expressed in hundredths (%). If not specified, ? is the daily interest rate, ‰ is the monthly interest rate, and % is the annual interest rate. The conversion formula between the year-month-day interest rate is:
1, daily interest rate (?) = annual interest rate (%)/360.
2, monthly interest rate (‰) = annual interest rate (%)/12.
3, daily interest rate (?) = monthly interest rate (‰) / 30.
(c) people often say "annual (monthly) interest rate how many cent (c)" refers to a dollar of principal a year (month) should pay how many cent (c) interest. For example, "monthly interest 2 points" means that a dollar of interest per month two cents, the monthly interest rate is 0.02 yuan / 1 yuan = 20 ‰, into the annual interest rate is 20 ‰ × 12 = 24%, then, a dollar of interest per year is 24 cents. Calculation formula: 1 yuan × 24% = 0.24 yuan.
(d) calculating interest banks usually have two methods, that is, the cumulative number of interest method and interest method. Accumulation of interest method according to the actual number of days daily accumulated borrowing balance, to the cumulative accumulation multiplied by the daily interest rate to calculate interest. The formula for calculating interest is: interest = cumulative interest accrued x daily interest rate, where cumulative interest accrued = total daily balance. The cumulative accrued interest method is mainly used to calculate interest on deposits and loans where the principal amount changes frequently, such as demand deposits.
(E) the pen-by-pen method is to determine the principal amount and the agreed interest rate, according to the interest formula to calculate interest pen-by-pen. Lump sum method is generally used to calculate the principal amount of relatively fixed interest on deposits and loans. For example, time deposits. Interest-bearing period for the whole year (month), the interest formula: interest = principal × year (month) interest rate × year (month) number. Interest-bearing period of a full year (month) and a fraction of a day, the interest formula is: interest = principal × year (month) interest rate × year (month) number of principal × daily interest rate × fraction of a day. Can also be all the interest period into the actual number of days to calculate interest, that is, 365 days per year (leap year 366 days), monthly for the month of the actual number of days of the calendar, the interest formula: interest = principal × daily interest rate × the actual number of days.
(F) the principal of private lending is relatively certain, the interest rate is also agreed upon in advance, so the interest on private lending is usually calculated using the pen-by-pen method.
After reading the above, you should know what the interest rate means. In the private lending because most are paid lending, that is, the parties will agree on a specific borrowing rate, of course, in order to pursue a high interest rate, the agreed interest rate may be higher, this time to be careful, if the agreed interest rate is too high, it is likely to be recognized as usury, and at present in our country, in fact, for the usury is not protected.
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Court-supported interest rate for the same period of time for the bank What is the meaning of four times the interest rate of the loan
[Lawyer reply]Although in accordance with the principle of fairness, should protect the lender's right to income on the loan. But in accordance with the principle of good faith, since the borrower and lender for interest in the loan contract did not agree, then this personal loan to a certain extent with the nature of gratuitous borrowing. Although not conducive to the protection of the lender's rights and interests, but more emphasis on the principle of fairness. Based on this point, it is recommended that the lender in the signing of loan notes, debentures and other loan contracts must be the interest clearly agreed upon. The lender shall not include interest in the principal to seek compound interest. Although the contract law does not make clear and specific provisions on the issue of compound interest should be protected, but from its recognition of the basic principles of loan contracts, rules, is not recognized compound interest. Therefore, for the implementation of the law after the private lending disputes, should still be handled in accordance with the requirements of the relevant judicial interpretations, compound interest is not recognized and protected. According to the contract agreed period to return the loan is the borrower's main obligation, if the borrower in the contract expires can not return the loan, should bear the default liability. For the form of liability for breach of contract, China's "contract law" relevant provisions of the contract agreement with the liquidated damages, in accordance with the provisions of the contract to pay the liquidated damages, the contract does not agree with the liquidated damages, should be in accordance with the agreement or the relevant provisions of the state to pay the overdue interest.
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The company has encountered some problems this year, it is business problems, so what is the meaning of the interest rate in question? What is the legal significance?
[Lawyer's reply]The ratio of the amount of interest due in each period to the face value of the amount deposited or borrowed (called the total principal amount). The total interest on the amount lent or borrowed depends on the total principal amount, the interest rate, the frequency of compounding, and the length of time for which it is lent, deposited, or borrowed. The interest rate is the price the borrower pays for the money he borrows and the return the lender gets for delaying his spending and lending to the borrower. The interest rate is usually calculated as a percentage of the principal over a one-year period.
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Mortgage Interest Rate Increase of 10% What does it mean
[Lawyer Response]According to your question and answer is as follows, hello, a. 10% is not the future is in the prime rate regardless of the premise of the rise and fall are 1.1 times ah yes, the contract signed what the rate of interest is The level of the contract is what interest rate level, the future implementation of what interest rate level, a contract can not be changed. Second, there is a kind of saying that every year in January to start according to the new interest rate is what is meant by personal housing loan interest rate adjustment time in January 1 each year, different from other loans, other loans is the People's Bank of China announced the interest rate immediately after the adjustment, only personal housing loan interest rate in the second year on January 1, only adjusted, of course, the People's Bank of China has not adjusted the interest rate of the previous year, the second year of the personal loan is also not adjusted. Third, in general, a property will sign a cooperative agreement with several banks, there is no cooperative agreement of the bank can not loan. You can consult the sales staff have several banks, and then compare the interest rate policy of several banks. Sometimes the sales of the building with a good relationship with a bank, so only recommend you on that bank, in fact, as long as the agreement signed by the bank can be processed, so you have to ask a few more.