What is the bank credit card installment interest rate?

The interest rate for credit card installment payments may vary from bank to bank. Take the four major banks as an example:

1 , Industrial and Commercial Bank of China

The interest rate for ICBC credit card installment payment is: 0.9% for 3 installments, 1.8% for 6 installments, 2.7% for 9 installments, 3.6% for 12 installments , divided into 18 periods, calculated at 5.4%, divided into 24 periods, calculated at 7.2%.

2. China Construction Bank

If you pay in installments with a CCB credit card, you can choose to pay in 3, 6, 12, 18, and 24 installments. In addition to the interest calculated in 3 installments at 0.7% per period, the interest in 6, 12, 18 and 24 periods are calculated at 0.6% per period.

3. Agricultural Bank of China

Agricultural Bank of China credit card installment payment can be divided into 3, 6, 9, 12 and 24 installments. Regardless of the number of installments, Agricultural Bank of China The interest on bank credit card installments is calculated at 0.6% per installment.

IV. Bank of China

Bank of China credit card installments can be divided into 3, 6, 9, 12, 18 and 24 installments, of which the interest in 3 installments is 1.95%, the interest divided into 6 installments is calculated as 3.6%, the interest divided into 9 installments is calculated as 5.4%, the interest divided into 12 installments is calculated as 7.2%, the interest divided into 18 installments is calculated as 11.7%, and the interest divided into 24 installments is calculated as 1.95%. 15% calculation.

There are two loan repayment methods: equal principal and interest and equal principal.

1. Equal amounts of principal and interest. Compared with equal amounts of principal, the total repayment of interest is more, but the monthly repayment amount is the same, which can reduce the early repayment pressure. The interest of this loan interest calculation method is calculated based on the total principal. Although a part of the principal is repaid later, the calculation of interest does not actually decrease with the decrease of the principal. The calculation formula is as follows: [Loan principal] Deposit Although the upfront payment of the loan method is more, the overall interest paid is less than the equal principal and interest. Taking a mortgage as an example, if it is a house that requires a loan of 200,000 yuan and is repaid in 20 years, using the calculation method of equal principal payments, the interest can be saved by about 15,000 yuan. The repayment method of equal principal amounts is to calculate interest based on the actual reduction of your principal. The monthly repayment amount will decrease gradually, and the principal in the monthly repayment will be the same. The specific calculation formula is as follows: monthly repayment amount = (loan principal ÷ number of repayment months) + (principal - cumulative amount of principal repaid) × monthly interest rate.

How much is the credit card installment interest?

The credit card installment interest rate is determined by the card-issuing bank based on a comprehensive assessment of the cardholder's credit conditions. Generally, the monthly interest rate is around 0.75%, which translates into an annual interest rate of 9%. . However, the cardholder only owed the bank 100 million yuan in the first month. With the monthly repayments, the debt became smaller and smaller. In the last month, the debt owed was only 833 yuan, but the monthly interest owed was still Calculated based on the total borrowed amount, the actual interest rate is much higher than 9%.

Extended information:

For example, if the credit card bill is 10,000 yuan, and the monthly installment interest rate is 0.6% after discounting the bank discount, the annual rate is 0.6%12=7.2%, which seems quite good. It is cheap. If divided into 12 installments, the monthly principal to be repaid is 833 yuan and the interest is 60 yuan. The monthly principal plus interest will be a monthly repayment of 893 yuan.

However, many people ignore one point. The interest paid every month is fixed in the equal principal and interest repayment method, while the principal decreases every month. For example, the principal of the first month The gold is 10,000, and the second month is 10,000-833=9167.

By analogy, the principal is 833 yuan in the 12th month of the last period, and the interest is still 60 yuan. The actual interest rate in the last month is 60/833=7.2%, which is 60/833=7.2%. The monthly rate of 0.6 is many times higher.

How to charge handling fees for credit card bill installments?

The installment interest for the Bank of China credit card bill installment is "collected in installments and repaid following the monthly bill".

Interest is collected in installments: 0.65% for 3 periods, 0.6% for 6 periods, 0.6% for 9 periods, 0.6% for 12 periods, 0.65% for 18 periods, and 0.625% for 24 periods.

Interest is charged based on the interest rate displayed during actual processing.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

Credit card installment interest

The interest rate for credit card installment may vary from bank to bank:

ICBC credit card installment interest is: 3 points It is calculated at 0.9% per period, 1.8% for 6 periods, 2.7% for 9 periods, 3.6% for 12 periods, 5.4% for 18 periods, and 7.2% for 24 periods.

China Construction Bank credit card can be divided into 3, 6, 12, 18 and 24 installments. Except for the interest calculated in three installments at 0.7% per installment, the rest of the interest is calculated at 0.6% per installment.

Agricultural Bank of China can divide the loan into 3, 6, 9, 12 and 24 periods. Regardless of the number of periods, the interest is calculated at 0.6% for each period.

Bank of China can issue 3, 6, 9, 12, 18 and 24 tranches.

Credit card bill installment payment is a type of credit card installment payment. This type of installment payment means that the credit card holder requests the credit card center to return the consumption amount to the bank in installments after using the credit card to swipe the card.

Credit card bill installment payment is the simplest method of installment payment. You only need to call the bank's credit card center or log in to personal online banking to apply between the time the card payment is credited and the due date of repayment. You can pay in installments, and generally you can get approval as long as you don't have a bad personal credit record.

The minimum repayment amount is the minimum amount that needs to be repaid in the current month when using revolving credit. The minimum repayment amount is listed on the current bill. The minimum repayment amount for each period of bill is calculated as follows: Minimum repayment amount = 10% of all general transactions on the credit card account + 100% of the single-period amount of all outstanding installment transactions in the account + 100% of the unpaid portion of the minimum repayment amount of the previous period +100% of all funds used in excess of the account credit limit +100% of fees +100% of interest.

Bill installments can generally be applied for by calling the customer service center or telephone banking of the card-issuing bank. ICBC cardholders can apply for installment payment at any ICBC branch, ICBC online banking, telephone banking and mobile banking. China Merchants Bank can apply for installment payment at Apply for the bank's online banking. Relevant personnel from China Construction Bank reminded cardholders that although various banks have launched bill installment payments, it does not mean that every cardholder can pay in installments through credit cards.

Banks generally evaluate the credit status of cardholders based on their credit limit, credit history of cardholder purchases, etc. Only when the assessment is passed can the cardholder successfully make installment payments; if the assessment result is not satisfactory, the bank may reject the cardholder's installment application, or may not be able to grant the cardholder the installment payment amount he wants. Cardholders can apply for installment by phone after fully considering their own financial situation.

The minimum consumption amount applied for installment by various banks is basically between 500 and 1,500 yuan, including 600 yuan for ICBC, 1,000 yuan for China Construction Bank, Bank of China, and China Merchants Bank, and 1,500 yuan for Bank of Communications (Y-power card) (single payment is 500 yuan), CITIC is 1,200 yuan, while Agricultural Bank of China and China Guangfa Bank stipulate that a single payment of 500 yuan or more can apply for installment. China Everbright Bank has no requirement on the amount. As long as the cardholder uses the designated card, the bill will be automatically divided into 12 installments.

What is the typical installment interest rate for Bank of China credit cards?

Bank of China credit card consumption installments, bill installments, and cash installments all require a certain amount of handling fees. The handling fees vary depending on the number of installments. The maximum handling fee standards are: 0.65% for 3 installments and 0.60% for 6 installments. , 0.60% in the 9th period, 0.60% in the 12th period, 0.65% in the 18th period, and 0.625% in the 24th period. The specific handling fee shall be subject to the information displayed at the time of business processing. The specific handling fee shall be subject to the information displayed at the time of business processing.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

That’s it for the introduction to credit card bill installment interest.