For credit card cash withdrawals, interest will be calculated from the bank’s accounting date at 0.5% per day until repayment. The algorithm is as follows:

Withdrawal interest is 14 yuan. Calculation: ATM cash withdrawal on July 31 1,000 yuan, 28 days from August 27th to August 27th, interest will be generated: 1000*28*0.0005=14 yuan. Therefore, there will be a cash withdrawal interest of 14 yuan on the statement date of August 27.

The algorithm for cash withdrawal interest is 10.64 yuan: the bill is issued on August 27, the sum of consumption and interest is 1000 14 = 1014 yuan, and the period between the repayment and settlement on September 18 is 21 days. The interest generated is 1014*21*0.0005=10.64 yuan.

Extended information:

The overdue interest and withdrawal interest of most bank credit cards are calculated according to the compound interest calculation method. Therefore, when using a credit card, try not to overdue it and repay it in full.

Generally speaking, on the due date of repayment, the cardholder needs to pay off the bill in full at once. If it cannot be paid off at once, it is necessary to repay according to the minimum repayment amount or only repay part of the bill. Interest accrued. The so-called compound interest is the interest generated on the original principal. In the next month (if the repayment is still failed), it will be included in the principal and interest will accrue, with a daily interest rate of 0.5%.

A very important keyword in the calculation of credit card interest is "full penalty interest", which means that if the cardholder fails to repay in full, regardless of the paid part or the unpaid part, They no longer enjoy the interest-free period, and interest is levied from the transaction date to the final repayment date. Specifically, interest will be charged at 0.05% per day starting from the recording date (usually the second day after the card payment is made) for each purchase on the bill (including the unpaid amount of the previous month). until the day when a portion of the loan is repaid; then, interest will continue to be calculated on the remaining unpaid portion until the next repayment.

Reference materials: Agricultural Bank of China credit card? Baidu Encyclopedia_Credit card cash withdrawal