How much more will you get in the end if you pay 1,400 yuan in 12 installments on Taobao from Bank of China? How much will you have to repay every month? Do you need to go to the bank to handle it? Thank you, what if I pay 1,600 yuan?

For Bank of China credit card installment payment, the handling fee rate for 12 installments is 15%.

The handling fee must be paid in full in the first installment: 1400X15%=210 yuan, and the principal is 15% per Monthly payment is 1400÷12=116.67 yuan.

You don’t need to go to the bank, you can apply for installment business through the Bank of China customer service phone number.

The handling fee of 1,600 yuan is 240 yuan paid in full in the first installment, and the principal payment is 1,600÷12=133.33 yuan every month.

There is no interest.