If you repay according to the minimum repayment amount, it may be more than 1,000 yuan per month, but if you make installments, the amount can be limited to 1,000 yuan per month, and the handling fees incurred by installments and the minimum monthly repayment If you compare the interest generated, installment is more cost-effective.
Take the example of CCB credit card. The consumption installment needs to be processed from the time of consumption to 2 days before the latest bill date. You can choose from 3, 6, 12, 18 or 24 issues (monthly for one period), the corresponding handling fees are 0.7%, 0.6%, 0.6%, 0.6%, and 0.6% respectively. (Monthly handling fee = total installment amount * handling rate). If 15,000 is repaid in 18 installments, the monthly principal to be repaid is: 15,000÷18=833.33 yuan, and the monthly handling fee is: 15,000×0.6%=90 yuan, so the total monthly repayment is 923.33 yuan. , you still have 1,000 yuan which is completely enough, the total handling fee incurred in 18 months is: 1,620 yuan.
If you repay according to the minimum repayment amount, the interest will be calculated at a rate of 0.05% every day. Assuming that one month after paying 15,000 is the due date of repayment, then the interest for this month will be It is: 15000×0.0005×30=225 yuan. CCB’s minimum repayment amount is about 10% of the bill consumption amount, but the minimum repayment ratio of some banks is lower. Assume that your monthly payment of 1,000 yuan is enough to deduct the minimum amount. Yes, the interest for the second month is: 14000×0.0005×30=210 yuan; for the third month: 13000×0.0005×30=195. After 18 consecutive months, the interest you paid will definitely be more than 1620 yuan (the above Interest rates are calculated conservatively, and may actually be more than that). So installment is more cost-effective.