From the date of consumption, the bank will calculate the interest on the outstanding amount at the rate of 0.5 ‰ per day, charge it daily, and compound interest monthly until it is paid off. The calculation formula of interest is: interest = principal × five ten thousandths (interest) × days A (days from consumption date to current repayment date)+(paid principal amount) × five ten thousandths (interest) × days B (days from current repayment date to next billing date).

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Consumers should pay attention to the interest-free period of repayment. If they repay the loan within the interest-free period, they can avoid the loan interest for non-cash transactions, otherwise the bank will charge the loan interest and late fees. It should be noted that if the cardholder only repays part of the loan during the interest-free repayment period, but it is higher than the minimum repayment amount, most banks will charge interest on the overdraft part of the cardholder, rather than the unpaid part of the loan, because the bank thinks that the cardholder has given up the interest-free repayment treatment.

Credit card overdraft only enjoys the interest-free repayment period of the bank, while cash overdraft has no interest-free repayment period. Try to swipe your card for overdraft consumption.

Baidu encyclopedia-minimum repayment amount

Baidu encyclopedia-credit card repayment

People's Daily Online-Choosing the minimum repayment amount for a credit card will still generate interest.