The overdue interest of ICBC's credit card is the late payment fee. Late payment fee refers to a certain percentage of late payment fee if the tax is not paid according to the tax payment period or the loan is not repaid according to the repayment period. It is a measure for tax authorities or creditors to give economic sanctions to overdue parties. The proportion of overdue fine shall be uniformly stipulated by the People's Bank of China, which is 5% of the unpaid part of the minimum repayment amount. Taking ICBC credit card as an example, the calculation of late payment fee is explained. The agreed late payment fee is 5% of the unpaid part of the minimum repayment amount, and the minimum is 1 RMB. It should be noted that the base of the late payment fee is the unpaid part of the minimum repayment amount. \ ICBC credit card late payment fee calculation formula: late payment fee = (minimum repayment amount-paid amount on due repayment date) ×5%. \ For example, if the user spends 654.38+00000 yuan on credit card, and the minimum repayment amount is 654.38+0000 yuan, and fails to repay before the due repayment date, the credit card late fee charged is 654.38+00005% = 50 yuan. \ For more information on how to calculate overdue interest on ICBC credit cards, please visit: See More.

ICBC credit card, owing 5000 yuan, how much interest will it generate in one month?

One month will generate overdue interest, 75 yuan.

Calculation process:

It is known that the overdue interest is 0.05% and the debt is 5000.

According to the interest calculation formula: interest = principal × interest rate × deposit period.

Then one month will generate overdue interest =5000×0.05%×30=75 yuan.

Extended data

Influence of overdue repayment of ICBC credit card

1. If it is a quasi-credit card, the longest overdraft period is 60 days. If it is not returned for more than 60 days, it shall be deemed as overdue;

2. If it is a credit card, if the minimum repayment amount is not repaid before the due repayment date (inclusive), it will be considered overdue, and corresponding liquidated damages will be generated in addition to interest (liquidated damages = unpaid part of the minimum repayment amount ×5%).

Users are advised to repay in time or sign an automatic repayment agreement before the repayment date, so as not to affect personal credit. Xiao Zhi reminds you: 1. If the repayment is difficult at present, users can pay the minimum repayment amount first, or apply for installment payment.