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# How to calculate the interest of college student loan? Introduction to calculation method of annual

Now it can be said that there are a lot of young people, many college students are in the loan business, very thoughtful, but also very motivated. But college student loan also needs certain interest, so how to calculate the interest of college student loan? How to calculate the annual interest of student loan.

college students should meet the following conditions when applying for credit student loan:

(1) A natural person with full capacity for civil conduct.

(2) Have permanent residence ID card, detailed address of school and department.

(3) Have the "student card", student status certificate and other relevant certificates issued by the school; students' tuition fees, living expenses and other related learning expenses certificates; loan application form or relevant certificates approved by the introducer.

(4) Students who meet the requirements of the loan bank and their moral performance prove that they have no bad credit behavior.

(5) Other conditions stipulated by the lending bank.

According to the national student loan policy, the students who apply for this loan do not need to pay interest during their normal study in school, but they should bear the loan interest from September 1 of the year of graduation.

The national student loan interest rate shall be implemented in accordance with the legal loan interest rate announced by the people's Bank of China and relevant national interest rate policies, and shall not rise. The current annual interest rate of loans is: one to three years (inclusive): 5.76%; three to five years (inclusive): 5.85%; more than five years: 6.12%.

It is reported that the national student loan is based on the accumulated interest method, with the actual number of days, the annual interest.

The formula of integral interest method: interest = accumulated interest accumulated & times; daily interest rate

Among them, the accumulated interest accumulation = the total daily balance of the account.

The value date is the date when the loan is issued, and the interest settlement date is December 20 of each year (the interest settlement date of the last year of the loan is September 20).

Calculation method of annual interest of student loan:

The national student loan interest rate shall be implemented in accordance with the legal loan interest rate announced by the people's Bank of China and relevant national interest rate policies, and shall not rise. The current annual interest rate of loans is: one to three years (inclusive): 5.76%; three to five years (inclusive): 5.85%; more than five years: 6.12%.

If the loan is repaid in advance, the handling bank shall calculate the interest according to the actual term of the loan, and shall not charge any other expenses except the interest payable. Interest = loan amount * corresponding annual interest rate * loan days / 365

To put it simply, it is not necessary to pay interest when you are still studying until one year after graduation. After one year, the interest rate will be 0.5%, and then pay the loan to the bank or branch.