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What about 2 points of interest?

Edit: Financial 360 finishing Source: Fusion 360 Date: 2014-06-17

Summary:

In private lending, we can often hear 1 point interest and 2 points interest. What is the interest rate? If the loan is worth 100,000 yuan by 2 points, how much will it cost again after one year? 2 What is the high interest rate? The non-governmental interest is generally referred to as monthly interest. Calculated by a few percent, 1 cent is a monthly interest of 1%, and 2 cents is a monthly interest of 2%. The so-called two-part dividends are based on a one-yuan RMB basis, which means that every dollar of interest pays 2 cents a month, and the annualized interest rate is 2%*12=24%. The loan is 100,000 yuan, according to
InPrivate lendingIn the midst of this, we can often hear the phrase “1 point interest” and “2 point interest rate”. How does this “partial interest” count? If the loan is worth 100,000 yuan by 2 points, how much will it cost again after one year?

Are 2 points high?

The "split points" referred to by the people generally refer to "monthly interest rates." Calculated by a few percent, 1 cent is a monthly interest of 1%, and 2 cents is a monthly interest of 2%. The so-called two-point spread is based on a one-yuan RMB base, that is, one cent a month to pay 2 cents of interest.Annual interest rateIt is 2%*12=24%. The loan is 100,000 yuan, according to the single interest, the one-year interest is 10000*24%*1=2400 yuan; and according to the compound interest calculation, one year's equity and = 100000*(1+2%)^12=126824.2 yuan The interest is 26,824.2 yuan.

In contrast, it is found that the interest generated by compound interest is so much that the so-called "benefiting, rolling snowball." However, under normal circumstances, loans are calculated on the basis of compound interest, so “2 points of interest” is indeed very high.

According to the laws of our country, the interest rate of private lending can be appropriately higher than the interest rate of the bank, but the maximum must not exceed that of the bank.Lending ratesFour times. The benchmark annual interest rate for RMB loans from financial institutions set by the People's Bank of China for six months to one year (including one year) is 6.12%, which means that the private interest rate for private lending is 24.48%, and the monthly interest rate for protection is 2.04%. .

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