The interest of 5/10,000 is 5 cents. Taking the principal of 10,000 yuan as an example, the interest is 5 yuan.

The annual interest rate is generally expressed as % (percent), the monthly interest rate is generally expressed as ‰ (thousandths); the daily interest rate is expressed as a few ten thousandths of the principal, which is usually called a few cents or cents. .

For example, if the daily interest rate is 1%, that is, the principal is 1 yuan, the daily interest rate is 0.001 yuan. (1 cent = 0.001 yuan, one cent = 0.0001 yuan)

Five ten thousandths is 0.0005, that is, five cents, interest rate = 0.05%

With a principal of ten thousand yuan, For example,

According to the formula, interest = principal * interest rate

Substituting the data, the column formula can be obtained:

Interest = 10000*0.05% = 5 (yuan )

Extended information:

The amount of interest depends on three factors: principal, deposit period and interest rate level.

The calculation formula for interest is: Interest = Principal X Interest Rate From now on, personal income tax on savings deposit interest will be temporarily exempted. Therefore, interest on savings deposits is currently exempt from interest tax.

Consequences of overdue credit card repayment 1

Bearing high penalty interest After a credit card defaults, the penalty interest fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and the interest will be charged from the date the consumption is recorded. Calculate interest.

Except for ICBC, which imposes balance penalty interest, the other 12 banks still impose full penalty interest. Full penalty interest means that even if the customer repays part of the amount, the repayment portion will not be deducted when calculating penalty interest, and interest charges are usually calculated at a daily interest rate of 0.5%.

In addition, some banks stipulate that within 15 days from the accounting date, the daily interest rate will be calculated at 0.5%, and if it exceeds 15 days, the daily interest rate will be calculated at 10%. If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, , calculated based on the daily interest rate of 15/10,000. The longer the arrears are, the higher the penalty interest will be.

Consequences of overdue credit card repayments 2

Creating legal disputes Violent credit card collection has become a hot topic. Many bank credit card centers outsource credit card repayment collection to some so-called "debt collection companies". These companies are mixed, and their debt collection methods are rough, causing great trouble to customers.

Not only that, defaulting customers may also face legal disputes. According to the provisions of the "Criminal Law", for malicious overdrafts of more than 5,000 yuan on a credit card, and the bank has not paid back after three months of collection, if the circumstances are serious, criminal liability may also be pursued for fraud.

For defaulting customers, entering the judicial process will not only affect their reputation, but also incur more costs. In addition to paying off the arrears, they will also have to bear litigation costs, which is even worse. .

Three Consequences of Overdue Credit Card Repayment

Leaving "credit stains" in the national credit reporting system. In 2006, the central bank established a national unified basic database of corporate and personal credit information. If you have applied for a card or taken out a loan at a bank,

a "credit report" of your own will be automatically generated in the system. The "stains" in this report cannot be ignored, as it will affect all aspects of the application. Loans, insurance, job hunting, studying abroad, etc. Bad records are generally retained abroad for 7 years.

In November 2012, the central bank’s new version of personal credit report was launched. Overdue credit cards and loans before October 2009 will no longer be displayed, and overdue records will be retained for 5 years thereafter. This move means that citizens’ overdue negative records will no longer remain with them for life. If they can repay their loans in full and on time for five consecutive years, their credit can be restored.

Credit cards, as an emerging payment method, are also the simplest means of daily financial management for consumers. Although overdraft consumption can reduce the financial pressure of cardholders’ daily consumption, if the cardholders do not manage it properly or do not have good financial management, With the concept of financial management, it is easy to become a card slave with a mountain of bills.

When the bill pressure is too heavy, be careful when using credit cards to pay off credit cards. You can apply for installment payment from the bank or apply for deferred repayment, extension of installments, etc. to relieve the pressure. At the same time, you should also reflect on yourself in time. Whether the consumption pattern is healthy and reasonable.

In April 2016, the central bank issued the "Notice on Matters Concerning the Credit Card Business", which increased the market pricing attributes of credit cards and made credit card rights more diversified. The most important point is that liquidated damages are no longer compounded.

Baidu Encyclopedia—Monthly Interest Rate