According to the regulations, the discount interest should be calculated according to the discount amount, discount days (the days from the date when the bank pays the discounted bill to the discount unit to the day before the bill expires) and the discount rate.
One-time discount is expressed by the formula:
One-time discount interest = one-time discount amount × discount days × daily discount rate.
Daily discount rate = monthly discount rate/30 or annual discount rate/360.
If the acceptor is in a different place, the discount, rediscount, rediscount period and discount interest shall be calculated with 3 days' transfer time.
Extended data:
For individuals who meet the requirements of small secured loans, the general process of applying for loans includes voluntary application, review and recommendation, commitment to guarantee and issuance.
Voluntary application. Eligible applicants submit written applications (some of which can be directly submitted to the local human resources and social security departments or microfinance guarantee institutions) to the grassroots employment platform where their household registration is located or where they operate, and submit relevant materials, certificates or relevant certificates.
The human resources and social security departments conduct qualification examination, and those who pass the examination are recommended to microfinance guarantee institutions. A guarantee institution refers to a guarantee institution entrusted to operate a small loan guarantee fund according to relevant regulations.
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