Minimum repayment amount = 65438+ 00% of the unpaid consumption amount within the credit line+65438+000% of the cash advance transaction amount+65438+000% of the unpaid part of the previous minimum repayment amount+65438+000% of the consumption amount exceeding the credit line+65438+000% of expenses and interest.

At present, in the above formula, some banks adopt the minimum repayment rate 10% for cash advances, that is, 5000* 10%=500 yuan.

Minimum repayment amount

If you repay 5000 yuan according to the minimum repayment amount and pay it off in three months, you can't enjoy the interest-free period. You need to calculate the interest according to the daily interest rate of five ten thousandths of the expected annualized interest rate.

The approximate repayment situation is as follows:

First month: only the minimum repayment amount, 5000* 10%=500 yuan.

The second month:

Principal to be repaid: (5000-500)* 10%=4500 yuan.

Interest: (5000 * 0.05% *18+4500 * 0.05% *12) = 4572 yuan.

Repay 457.2 yuan according to the minimum amount at maturity.

The third month:

Principal: (4572-457.2) yuan+interest 102.87 yuan (4572 * 0.05% *18+(4572-457.2) * 0.05% * 30] = 42130.

Total repayment =42 17.67 yuan +457.2 yuan +500 yuan =5 174.87 yuan.

Total interest 174.87 yuan, which is nearly more than installment repayment in 40 yuan.

This is the situation of paying off all the arrears in March. The more months you need, the higher the interest you need to pay, the more you owe, and the higher the interest, according to the cyclic interest calculation method of bank credit card repayment.

References:

Minimum repayment amount _ Baidu Encyclopedia