Calculating loan interest 700 million in 10/15/20 years how much to pay each month? - Insurance Finances

1- Borrowing 700 million, how much interest rate today?

Immediately refer to the loan package of 700 million for 10 years with preferential interest programs of some of the following banks:

• Home loan interest rate Vietcombank 7.29%/year preferential in the first 12 months, interest rate after preferential treatment = 24T interest rate + 4.5%, about 11.8%


• Car loan interest rate Vietinbank 6.8%/year fixed incentive for the first 12 months, interest rate after incentives about 11%


• Mortgage home loan interest rate Sacombank 6.1%/year preferential in the first 3 months, interest after incentives = LSTK 13T + 4.5%


• Bank loan interest rate Agribank preferential interest rate 7.5%/year preferential home loan, interest after preferential interest = LSTK 12T + 3%


• Mortgage home loan interest rate BIDV about 7.2%/year, fixed for the first 12 months, interest rate after incentives = 12T account balance + 4%, about 11.2%


• Mortgage interest rate VIB 8.3% fixed incentive for the first 12 months, interest rate after incentive = LSCS + 4.1%

2- Formula to calculate monthly interest when borrowing 700 million mortgage

• The formula to calculate the monthly principal amount = Total loan amount : Total loan months


• The formula to calculate the monthly interest payable = Outstanding balance at the beginning of the period x interest on an annual basis/12 or = Remaining balance at the beginning of the period x interest on a monthly basis


• Total monthly payment = monthly principal + monthly interest.

3- Table of calculating home loan interest 700 million in 10 years Vietcombank

• Loan package: Loan to buy a house


• Loan amount: 700,000,000 VND


• Loan term: 120 Months (10 years)


• Preferential loan interest rate 7.29%/year for the first 12 months


• Interest rate after incentives: 11.8%/year

How to calculate interest payable for the first period?

• Principal amount to be paid monthly = 700,000,000 : 120 = 5,833,333


• Interest payable for the first month = 700,000,000 x 7.29%/12 = 4,252,500


• Total first month payable = 5,833,333 + 4,252,500 = 10,085,833

….

How to calculate the 13th repayment period with interest after preferential interest rate 11.8%/year

• Principal amount to be paid monthly = 700,000,000 : 120 = 5,833,333


• Interest payable in the 13th month = 630,000,000 x 11.8%/12 = 6,195,000 VND


• Total payable for the 13th month = 5,833,333 + 6,195,000 = 12,028,333

→ View the spreadsheet of interest payable when borrowing 700 million for 10 years in excel HERE

Period	Remaining original number	Principal monthly payment	Interest paid monthly	Total monthly payment
0	700,000,000 VND
first	694.166,667	5,833,333	4,252,500	10,085.833
2	688,333,333	5,833,333	4.217.063	10.050.396
3	682,500,000 VND	5,833,333	4.181,625	10,014.958
4	676,666,667	5,833,333	4.146,188	9,979,521
5	670,833.333	5,833,333	4.110.750	9,944,083
6	665,000,000 VND	5,833,333	4.075.313	9,908.646
7	659.166,667	5,833,333	4.039,875	9,873.208
8	653.333.333	5,833,333	4,004.438	9,837,771
9	647,500.000 VND	5,833,333	3,969,000 won	9.802.333
ten	641.666,667	5,833,333	3,933.563	9,766,896
11	635,833,333	5,833,333	3.898.125	9,731,458
twelfth	630,000,000 VND	5,833,333	3,862,688	9,696,021
13	624.166,667	5,833,333	6,195,000 won	12,028.333
14	…	…	…	…

4- How to calculate loan interest 700 million in 15 years at BIDV?

• Red book mortgage home loan package


• Loan amount: 700,000,000 VND


• Loan term: 180 Months (15 years)


• Preferential loan interest rate 7.2%/year for the first 12 months


• Interest rate after incentive: 12.0%/year

How to calculate the first repayment period?

• Principal amount to be paid monthly = 700,000,000 : 180 = 3,888,889


• Interest payable for the first period = 700,000,000 x 7.2%/12 = 4,200,000 VND


• Total amount payable for the first period = 3,888,889 + 4,200,000 = 8,088,889

….

How to calculate the 13th repayment period with 12% preferential interest rate

• Principal amount to be paid monthly = 700,000,000 : 180 = 3,888,889


• Interest payable for the 13th period = 653,333,333 x 12%/12 = 6,533,333


• Total amount payable for the 13th period = 3,888,889 + 6,533,333 = 10,422,222

→ View the spreadsheet of interest payable when borrowing 700 million for 15 years in excel HERE

Period	Remaining original number	Principal monthly payment	Interest paid monthly	Total monthly payment
0	700,000,000 VND
first	696.111.111	3,888,889	4,200,000 won	8,088.889
2	692,222,222	3,888,889	4,176,667	8,065,556
3	688,333,333	3,888,889	4.153.333	8,042.222
4	684.444.444	3,888,889	4.130,000 won	8,018.889
5	680.555.556	3,888,889	4.106,667	7,995,556
6	676,666,667	3,888,889	4,083.333	7,972,222
7	672,777,778	3,888,889	4.060,000 won	7,948.889
8	668,888,889	3,888,889	4,036.667	7,925.556
9	665,000,000 VND	3,888,889	4.013,333	7,902.222
ten	661,111.111	3,888,889	3,990,000 won	7,878,889
11	657,222,222	3,888,889	3,966.667	7,855.556
twelfth	653.333.333	3,888,889	3,943.333	7.832.222
13	649.444.444	3,888,889	6.533,333	10.422.222
14	…	…	…	…

5- How to calculate loan interest 700 in 20 years Agribank?

• Loan amount: 700,000,000 VND


• Loan term: 240 Months (10 years)


• Preferential loan interest rate 7.5%/year for the first 24 months


• Interest rate after incentives: 11%/year

How to calculate the first period's payables

• Principal amount to be paid monthly = 700,000,000 : 240 = 2,916,667


• Interest payable for the first period = 700,000,000 x 7.5%/12 = 4,375,000 VND


• Total amount payable for the first period = 2,916,667 + 4,375,000 = 7,291,667

….

How to calculate the 25th repayment period with the preferential interest rate of 11%/year

• Principal amount to be paid monthly = 700,000,000 : 240 = 2,916,667


• Interest payable for the 25th period = 630,000,000 VND x 11%/12 = 5.775,000


• Total amount payable for the 25th period = 2,916,667 + 5,775,000 = 8,691,667

→ View the spreadsheet of interest payable when borrowing 700 million in 20 years in excel HERE

Period	Remaining original number	Principal monthly payment	Interest paid monthly	Total monthly payment
0	700,000,000 VND
first	697.083.333	2,916.667	4,375,000 won	7,291,667
2	694.166,667	2,916.667	4,356.771	7,273.438
3	691,250,000 VND	2,916.667	4,338.542	7.255.208
4	688,333,333	2,916.667	4.320.313	7,236,979
5	685,416,667	2,916.667	4,302.083	7.218.750
6	682,500,000 VND	2,916.667	4,283.854	7,200.521
7	679,583.333	2,916.667	4,265.625	7,182,292
8	676,666,667	2,916.667	4.247,396	7.164,063
9	…

So you can easily compare a loan package of 700 million in 10 years, 15 years or 20 years with the amount to be paid in accordance with your financial ability.

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