credit card overdraft interest rate

daily rate is also called daily interest rate or daily interest rate. Refers to the ratio of one-day interest amount of deposits and loans to the amount of borrowing currency. Interest calculated on a daily basis.

Credit cards are different from quasi-credit cards. Credit cards can be overdrawn, with a minimum interest-free period of 25 days and a maximum interest-free period of 56 days. Quasi-credit cards have no interest-free period for consumption, and they all have no interest-free period for overdraft and cash withdrawal, and they will charge interest according to five ten thousandths of a day!

the credit card overdraft interest rate mainly refers to the interest rate generated by the credit card holder's current bill amount not being repaid in full on time, and the interest rate payable at present when the cardholder uses the credit card.

for a long time, whether it is a city commercial bank or a state-owned bank, the daily interest rate of credit card overdraft is adjusted between .5% and .35%, with the lower limit of .35% and the upper limit of .5% fixed, and the converted annualized interest rate is about 15-18%.

However, with this notice from the central bank, it means that the overdraft interest rate of credit cards of all banks may change with the market at will, and it is very likely that all banks will reduce the overdraft interest rate of credit cards according to the usage of our accounts in this bank.

so for our cardholders, the overdraft interest rate of each credit card may be different, and the difference may be relatively large. However, at present, the credit card market is basically fixed, and there may not be a bank to initiate a price war in a short time.

In the Notice of the People's Bank of China on Promoting the Market-oriented Reform of Credit Card Overdraft Interest Rate, the central bank also requires credit cards to display the annualized interest rate in an obvious way, not just the daily interest rate and the daily repayment amount.

in addition to the previous requirements for showing the annualized loan interest rate, we can see our actual annualized loan interest rate and the annualized credit card interest rate at a glance when we choose to open a credit card in the future.

when choosing a credit card, we can choose a credit card with a lower overdraft interest rate to register and use according to the comparison of the discounts given to us by various banks.

how to calculate the credit card overdraft interest?

Credit card overdraft interest means that the credit limit in a credit card is used up, but it is still being spent. Generally speaking, credit card overdraft interest is calculated at the rate of five ten thousandths of daily interest within 15 days from the date of signing or the date of bank account entry (including that day), ten thousandths of daily interest for more than 15 days, and fifteen thousandths of daily interest for more than 3 days or the overdraft amount exceeds the prescribed limit. The overdraft interest is not divided into sections, and the interest is calculated according to the highest interest rate grade of the deadline or the highest overdraft amount.

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1: overdraft cash withdrawal is a small cash loan provided by the bank to help you flexibly allocate funds when you are in urgent need. Generally speaking, it is a form of borrowing when you take a credit card from the bank and withdraw cash through the bank counter or ATM machine. If you spend money in a shopping mall, it is called overdraft consumption (interest-free period) to take a credit card directly.

1. The amount of overdraft withdrawal is set according to your card usage, and the withdrawal standard of different banks is different. The lowest is not more than 3% of the credit limit, and 1% of the highest credit limit can be withdrawn.

2. In addition to the withdrawal fee (the withdrawal fee varies from bank to bank), domestic and overseas overdrafts have to pay interest and do not enjoy interest-free treatment. Overdraft can be repaid as you borrow, with daily interest, with a daily interest rate of five ten thousandths; No overdraft, no interest, no interest for repayment on the same day of overdraft, and interest for as many days as overdraft.

3. If the cardholder makes overdue repayment, interest will be calculated at the rate of .5 ‰ per day from the next day of consumption, and the overdue accounting will compound interest, so the longer the overdue time, the higher the daily interest will be.

two: the need for malicious overdraft bears criminal responsibility. Article 196 of the Criminal Law stipulates that malicious overdraft refers to the behavior that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and still refuses to return it after being urged by the issuing bank. Those who maliciously overdraw shall engage in credit card++activities, and if the amount is relatively large, they shall be sentenced to+++for not more than five years or criminal detention, and shall be fined not less than 2, yuan but not more than 2, yuan; If the amount is huge or there are other serious circumstances, it shall be+++for more than five years and less than ten years, and a fine of more than 5, yuan and less than 5, yuan shall be imposed; If the amount is especially huge or there are other particularly serious circumstances, the offender shall be sentenced to+++or+++for more than ten years, and shall also be fined not less than 5, yuan but not more than 5, yuan or confiscated property.

what is the credit card overdraft interest rate?

The credit card overdraft interest shall be calculated at five ten thousandths of the daily interest within 15 days from the date of signing or the date of bank bookkeeping (inclusive), at ten thousandths of the daily interest after 15 days, and at fifteen thousandths of the daily interest after 3 days or when the overdraft amount exceeds the prescribed limit. The overdraft interest is not divided into sections, and the interest is calculated according to the highest interest rate grade of the deadline or the highest overdraft amount.

Take the spending of 5, yuan by credit card as an example. If the period from the billing date to the repayment date is 45 days, and the cardholder has paid back 4, yuan on the repayment date, the remaining 1, yuan has not been paid back on time. If you hold a card of China Construction Bank or China Merchants Bank, you need to pay interest at five ten thousandths per day based on 5, yuan, and you need to pay overdraft interest of 1,125 yuan within 45 days;

a credit card is a credit certificate issued by a commercial bank or a credit card company to a qualified consumer. Consumers with credit cards can go to special commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.

Credit cards are generally special plastic cards with a length of 85.6mm, a width of 53.98mm and a thickness of 1mm. The name of the card issuer, expiration date, number, cardholder's name and other contents are printed on the front, and there are chips, magnetic strips and signature strips on the back. Cardholders can use their credit cards to shop, spend money and deposit and withdraw cash from banks.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards with a certain credit limit within which the cardholder can spend first and then repay. Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the specified credit limit. The credit card generally refers to a credit card.

Harm of credit card overdraft:

1. Bad credit record;

2. Interest: calculated at .5 ‰ per day;

3. Late payment fee: generally calculated as 5% of the unpaid part of the minimum repayment amount (depending on the regulations of each bank);

4. Malicious credit card overdraft may also face criminal punishment;

5. If you are blacklisted by the bank, you can no longer have a credit relationship with the bank within 5 years from the date of paying off the arrears. The credit standing will not be greatly affected if the repayment is delayed by one or two days, but the overdraft interest will be charged, that is, the overdraft interest will be charged for two days according to ten thousandths of the overdraft amount.

after receiving the credit card, the cardholder shall immediately sign the same signature as the application form in the signature column on the back of the credit card, and use the same signature when using the credit card, otherwise, the losses arising therefrom shall be borne by the cardholder, unless otherwise agreed between the cardholder and the card issuing institution or stipulated by the accepting institution or bank card organization.

some specially designed cards do not need to be signed on the back of the credit card, but they can be used normally only after a password is set. The cardholder can set the password through the channel designated by the card issuer.

annualized interest rate corresponding to credit card overdraft interest rate

1. At present, the upper limit of annualized interest rate corresponding to credit card overdraft interest rate is 18.25%, and the lower limit is 12.775%. In fact, banks generally pay interest according to the upper limit. Since January 1, 221, the credit card overdraft interest rate is determined by the card issuer and the cardholder through independent negotiation, and the upper and lower limits of the credit card overdraft interest rate are cancelled (the upper limit is five ten thousandths of the daily interest rate and the lower limit is .7 times of the daily interest rate).

2. This means that the credit card overdraft interest rate will be fully market-oriented, and banks can flexibly set prices according to their own conditions. Market analysts told the reporter of Investment Express that different banks will adopt different overdraft interest rates according to credit resources, development goals and market strategies, and small and medium-sized banks will attract customers through lower interest rates; Secondly, customers with high overdraft frequency and amount and good credit will get more favorable overdraft interest rate. However, with the downward adjustment of interest rates of various consumer loan products, the credit card overdraft interest rate has gradually become a typical representative of high interest rates. After the restrictions are lifted, the credit card overdraft interest rate is likely to go down.

1. The annual interest rate is the annual interest ratio, which is simply the actual ratio of interest to principal after we save money for one year. If your principal is 1, yuan, and the annual interest rate is 4%, the interest will be 4 yuan after one year's deposit.

2. annualized interest rate refers to the interest rate discounted to the whole year through the inherent rate of return of products. The annualized interest rate is an annualized display of short-term benefits. It converts the current interest rate (daily interest rate, monthly interest rate) into annual interest rate, assuming that our investment period is the income we will get in one year. This is an estimated rate of return. The annualized interest rate will be equal to the annual interest rate only if the future income remains unchanged. However, annualized income often fluctuates. The annualized interest rate is the interest rate equivalent to one year. For example, a product lasts for six months. I tell you, if the annualized interest rate is 12%, the interest rate for six months is 6%, that is, the interest rate for each month is 1%, and the annual interest rate is 12%.

so much for the introduction of credit card overdraft rate.