How to calculate the minimum credit card repayment interest

The charging standards for the minimum credit card repayment interest are:

1. From the accounting date of each transaction, Interest will be calculated at a daily interest rate of 0.05% until each outstanding debt is paid off.

2. If the cardholder applies for repayment according to the minimum repayment amount, the interest will not be repaid until the second period, and only 10% of the total bill will be repaid in the first period.

3. The amount that cardholders need to pay when applying for the minimum repayment amount is: (current consumption amount + last month’s outstanding amount + this month’s interest and fees) 10% + current overdraft Withdraw the full amount.

If you only pay the minimum repayment amount on a credit card, it is not considered overdue and will not affect your credit record. The relevant content is as follows:

1. The minimum repayment amount of each bank is different. Generally, It is about 10% of the bill amount; but if the minimum repayment this month is not repaid, then the minimum repayment "next month" = the minimum repayment payable "next month" + the late payment fee for the part repaid this month + this month Minimum repayment (about 10% of the total amount).

2. After paying the minimum repayment amount, starting from the due date of repayment, interest will be charged at 5/10,000 per day on the full amount of the monthly bill, and compound interest will be calculated on a monthly basis. It is easy to form a vicious cycle.

3. Generally speaking, every month, bank and credit card bills will be sent with SMS reminders or paper bills. The bill will specify: What is the minimum repayment amount, or how much can be applied for installment payment.

4. There is no need to contact the bank to pay the minimum repayment amount. As long as the bank deduction amount is greater than or equal to the minimum repayment amount, it will not be considered overdue, but interest will be calculated as mentioned above.

5. The minimum repayment amount can also be repaid with cash withdrawals, but the cost of cash withdrawals with credit cards is higher. In addition to the cash withdrawal handling fee, interest will be calculated at 0.5% per day starting from the second day of withdrawal.

6. If you pay the minimum repayment amount, you will not leave any bad records. Bad records are caused by overdue repayments. You only need to pay back the money in each period.

How to calculate interest for CCB credit card that only pays the minimum repayment amount

If you repay according to the minimum repayment amount listed on the CCB credit card statement, it will not have an impact on your credit record. The current statement does not enjoy the interest-free repayment period. Overdraft interest will be accrued on all transaction amounts on the statement from the recording date of each transaction to the repayment date, and compound interest will be accrued on a monthly basis. Unless otherwise specified, the CCB interest rate benchmark is 5/10,000 per day. If there is any adjustment, the upper limit of the daily interest rate is 5/10,000 and the lower limit is 0.7 times of 5/10,000 (approximately converted annualized interest rate upper limit is 18.25% and the lower limit is 18.25%. It is 0.7 times of 18.25%, which is 12.775%. The conversion formula is calculated as annualized interest rate = daily interest rate 365). If the relevant regulations of the People's Bank of China change, the regulations will be followed. Please refer to the bill for actual interest.

(In case of business changes, please refer to the actual situation.)

How to calculate the minimum repayment interest of CCB credit card?

Repayment of the minimum repayment amount of CCB credit card refers to paying off the "minimum repayment amount" listed on the current bill before the specified repayment due date. In this case, the customer will not be affected. Personal credit, but the current statement cannot enjoy the interest-free repayment treatment. All transaction amounts on the current statement will be charged overdraft interest from the recording date of each transaction to the repayment date. The upper limit of daily interest rate is 5/10,000, and the lower limit is 0.7 times of 5/10,000 (approximately converted annualized interest rate upper limit is 18.25%, and the lower limit is 0.7 times of 18.25%, which is 12.775%. The conversion formula is calculated as annual interest rate = daily interest rate 365 ), and earn compound interest on a monthly basis. If there is no special notice, the daily interest rate standard defaults to 0.5%. CCB has the right to adjust credit card interest rate standards in accordance with the interest rate policies of the People's Bank of China and notify customers. The minimum repayment amount is calculated separately for RMB accounts and foreign currency accounts.

(In case of business changes, please refer to the actual situation.)

This is the introduction of the minimum repayment interest of CCB credit card.