Information > General article > Raiders channel > Microfinance >  text

500,000 loans, the same amount of principal is equal to the principal and interest?

Time: 2018-01-12         Source: Rong 360 finishing         Author: Li handsome

The same amount of principal, the overall interest is low, the initial repayment pressure is large; the same amount of principal and interest, the overall interest is higher, the monthly repayment is fixed.

At present, there are two ways for banks to repay their mortgages. Equal principal and equal principal and interest. In order to more intuitively compare the difference between the use of equal principal repayment and the equal amount of principal and interest repayment.

We use a set of data to compare. The total price of the house is 1 million, the down payment is 300,000, the loan is 70,700,000, the mortgage interest rate is 4.9, the loan period is 20 years, and the total repayment is 240 months.

        

Equal amount of principal and interest monthly repayment amount fixed: monthly repayment: 4581.11 Total repayment: 1099466 Total interest: 399466

The amount of repayment of the same amount of principal is not fixed: the first month repayment 5775, the second month repayment 5763, the 101 month repayment: 45804.3 Calculated to the 240th month, the repayment is 2928.58 Total repayment: 1044429.17 Total interest: 344429.17

In comparison of the two repayment methods, the first 101 months of the repayment method of the equal principal amount is higher than the equivalent principal and interest repayment amount. In theory, the monthly repayment amount is higher than the equivalent principal and interest. However, after 101 months, the monthly repayment amount will be less than the equivalent principal and interest. Moreover, the interest on the equal principal amount is less than 40,000 yuan less than the interest on the principal and interest. On average, 240 months is about 200 yuan.

In general, under the same loan amount. The method of repayment of equal principal and equal principal and interest is not a big gap during the longer repayment period. At the same time, it depends on the personal economic situation of the individual when choosing a loan. If the economic situation is limited, the method of choosing equal principal and interest can appropriately alleviate the monthly repayment pressure. If the economy is in good condition, it is still good to choose the repayment method of the same amount of principal. The first is the less and the less, the later the repayment pressure is smaller. And it can also save a mortgage interest.

[Exclusive Manuscript and Disclaimer] Any work, such as "360 Original", without the written authorization of 360, may not be reproduced, extracted or otherwise used by any unit, organization or individual. If you have been authorized in writing, please indicate the source of 360. Anyone who violates the above statement and infringes on the legal rights and interests of Rong 360 shall be investigated for legal responsibility according to law. The materials and conclusions in the works are for user's reference only and do not constitute operational recommendations. To obtain written authorization, please send an email to: academy@rong360.com

Comment list (user comments are only for users to express their personal views, does not mean that the site agrees with its views or confirms its description)
you may also like
  • The difference between equal principal and interest and equal principal  For most people, buying a house requires a loan to the bank. If the bank loan is related to the bank loan, the two methods of repayment are the equal principal and interest method and the equal principal method. In fact, many people don't understand the difference between the two, leading to buying a house in a loan...
  • Equal principal and interest and equal principal who fight inflation? Question: Rong 360 loan expert, hello! I am ready to borrow to buy a house. What are the two repayment methods, the equal principal and interest and the equal principal who are more resistant to inflation? Rong 360 loan expert reply: Hello! The same amount of principal and interest and the same amount of principal can resist inflation. Because both are instalments...
  • Loan Notice: The difference between equal principal and interest and the same amount of principal!  For homebuyers, the difference between the two methods can produce very different results. The same amount of principal repayment can quickly reduce the repayment pressure and reduce the money spent by the buyers on interest, but the early repayment is very painful, and more people choose the same amount of principal and interest. If you lend...
  • The difference between equal principal and equal principal and interest  When many people borrow a house to buy a house, they don’t know the difference between the equal-purchase method and the equal-cost method. Which is more suitable for you, the following is a summary of the difference between the two: The equal principal method : It is equal to the total number of loans during the repayment period,...
  • Can the equal principal and interest be converted into the same amount of principal?  For loans to buy a house, the repayment method has two methods: equal principal amount and equal principal and interest. These two methods have their own characteristics and the people they adapt to are different. Relative to the repayment method of equal principal and interest, the equivalent principal is more economical but the prepayment pressure is large, and so on...