When you take out a bank loan, you must know the interest on the loan. Generally, they tell you that ○○.○%. Based on the primary financial sector, the loan interest rate seems to be between 4% and 5% these days. Interest rates vary depending on the loan product, so if you want to get a real loan, you should visit the bank for consultation. 대출이자 계산기 네이버
How to calculate loan interest
If the loan interest rate is 4.2%, what is the interest payable? Interest rate is the one-year interest rate. So, if the loan amount is 40 million won and the interest rate is 4.2%, the monthly interest payments are as follows
[In the case of 4.2% interest rate]
Loan interest = 40,000,000 won x 4.2% = 1,680,000 won/year
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This means that you have to pay 1,680,000 won a year as interest. Because you pay interest every month, you have to pay 140,000 won a month to the bank. If the interest is 12%,
[12% interest rate] 
Loan interest = 40,000,000 won x 12% = 4,800,000 won/year
It’s, you have to pay 400,000 won a month in interest. This is how important the interest rate is. That’s why a lot of people go through their main bank when they take out loans or they sell their feet to find cheaper interest rates.
Loan consultation
How much money should I pay the bank a month if I pay it back with the principal? There’s a tool that’s already been done. The Naver Interest Calculator makes it easy to calculate what you’re going to pay each month.
First, type ‘interest calculator’ in the Naver search box.
Naver interest calculator
Then, at the top of the screen, you will see the interest calculator program. Select the “Loan” menu and enter the loan amount, loan period, and interest rate here.
Naver loan interest calculator
Lastly, you’ll choose the repayment method
①Equal repayment of principal and interest is a method in which the sum of principal and interest is paid equally every month
②Equal repayment of principal is a method of repaying a certain amount of principal (= loan origin/loan period(month)) every month and calculating and paying the interest accordingly every month
③The maturity date and time is a method of calculating only interest without paying principal during the loan period.
When I calculated it, the equal repayment method of principal has the lowest interest cost, so I’ll choose this method.
The interest expense of borrowing 40 million won for 3 years at a 4.2% interest rate is 2,590,000 won. (The reason for the difference from the above calculation is that if you use an interest rate calculator, you will pay off the principal.) If you click on the monthly view below, you will calculate the principal and interest expense to be paid each time and inform you.
If you use an interest calculator like this, you can easily judge what you have to pay, so it’s a program that you often use.
I hope you now know how the loan interest amount is calculated according to the loan interest rate.