The annual interest rate is generally% (percentage), and the monthly interest rate is generally expressed as ‰ (one thousandth); The daily interest rate is expressed as a few tenths of the principal, which is usually called a few cents.
If the daily interest rate is 1%, that is, the principal is 1 yuan, and the daily interest rate is 0.005438+0 yuan. (1% =0.00 1 yuan, 10 cents =0.000 1 yuan)
0.05% means 0.0005=5 milli.
According to the formula, daily interest = principal * daily interest rate.
Taking the principal of 10000 yuan as an example, the following formula can be obtained:
Daily interest = 10000*0.05%=5 (yuan)
Extended data:
Consequences of overdue repayment of credit cards 1
After a credit card with high penalty interest defaults, the penalty interest fees usually involved are revolving interest fees and late fees. The essence of revolving credit is a small, unsecured loan with daily interest. If the repayment is not made in full on the last repayment date, revolving credit interest will be generated on the next statement, and the interest needs to be calculated from the date when the consumption is recorded.
Except for ICBC, the other 12 banks still carry out full penalty interest. Full penalty interest means that even if the customer repays the part, the repayment part is not deducted when calculating the penalty interest, and the interest expense is usually calculated at the daily interest rate of five ten thousandths.
In addition, some banks stipulate that interest shall be calculated at five ten thousandths within 15 days from the bookkeeping date, ten thousandths after 15 days, and fifteen thousandths after 30 days or when the overdraft amount exceeds the specified limit. The longer the default time, the higher the penalty interest.
Consequences of late repayment of credit cards II
The violent collection of credit cards that caused legal disputes has become a hot topic. Many bank credit card centers outsource the collection of credit card repayment to some so-called "debt collection companies". These companies are mixed, and the debt collection methods are rough, which brings great trouble to customers.
Not only that, the defaulting customer may also face legal disputes. According to the provisions of the Criminal Law, a credit card with a malicious overdraft of more than 5,000 yuan will not be repaid after three months of collection by the bank. If the circumstances are serious, criminal responsibility may also be investigated for fraud.
For defaulting customers, after entering the judicial process, it will not only affect their reputation, but also lose more costs. In addition to paying off the arrears, it is even worse to bear the litigation costs.
Consequences of late repayment of credit cards 3
Leave a "credit stain" in the national credit information system. In 2006, the central bank established a national unified enterprise and individual credit information basic database. As long as you have done a card and loan in the bank,
Will automatically generate its own "credit report" in the system, and the "stain" in this report can not be ignored, which will affect all kinds of applications for loans, insurance, job hunting, study abroad, etc. Bad records are generally kept abroad for 7 years.
20 12, 1 1, the new personal credit report of the central bank was launched, and the credit card and loans overdue situation before 2009 1 were no longer displayed, and the overdue records were retained for 5 years thereafter. This move means that the public's overdue negative record is no longer accompanied by a lifetime. If you can repay in full and on time within five years, your credit can be cleared.
As a new payment method, credit card is also the simplest financial management method for consumers. Although overdraft consumption can reduce the financial pressure of cardholders' daily consumption, cardholders can easily become house slaves if they are not properly managed or have a good concept of financial management.
When the bill pressure is too high, be careful to pay back the card with the card. You can apply to the bank for installment payment or deferred repayment to extend the installment and relieve the pressure. At the same time, you should reflect on whether your consumption pattern is healthy and reasonable in time.
2065438+April 2006, the central bank issued the Notice on Matters Related to Credit Card Business, which increased the market pricing attributes of credit cards and diversified the rights and interests of credit cards. The most important point is that the liquidated damages no longer bear interest.
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