What is the interest on installment repayment of Guangfa Credit Card?

overdraft consumption can enjoy an interest-free period of up to 5 days. You can enjoy interest-free treatment from the transaction date to the repayment due date as long as you repay in full before the repayment due date stipulated by the bank. However, the installment fee is generally charged in installments, and the fee is charged according to the number of installments. Generally, the rate of 6 and 12 installments is .7%, and that of 18 and 24 installments is .72%. Credit cards only charge interest when withdrawing cash and applying for minimum repayment, which is generally calculated at a daily interest rate of five ten thousandths.

the credit card interest of guangfa bank is calculated as follows: if the overdraft is RMB 1,2, it will be repaid to 1 yuan in 12 installments, and the handling fee will be .6%/ month, and the actual monthly deduction will be RMB 1,1,2× .6% = 17.2. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. However, the cardholder does not always owe the bank 1,2 yuan. In the last month, he actually owes the bank 1 yuan, but the bank still charges a handling fee of 1,2 yuan. According to the calculation, the real annual interest rate that the cardholder has to pay is about 15.48%. According to the correct calculation formula, it should be 126% (16%) 12/((1b) 12-1) = 13.94 yuan, with an extra 3.2% handling fee for each period.

Full penalty interest and partial penalty interest are two methods for calculating interest. Most banks only pay the repayment amount before the repayment date, but not in full, so they should not only pay the interest on the unpaid part, but also pay the interest generated by five ten thousandths per day from the consumption date to the repayment date.

minimum repayment

annual fee for main card: annual fee for Puka UnionPay card, annual fee for 4 yuan Golden Card UnionPay card, 8 yuan

annual fee-free policy: annual fee-free for the first year, annual fee-free for MasterCard Titanium Card for six times, and annual fee for each card, 48 yuan, for the first year. From the first year, if you spend 8, yuan on credit card every year, you will be exempted from the annual fee for the next half year.

Cash advance limit: 5% of the credit limit.

Interest-free period: 2 days to 5 days.

Consumption verification method: signature and password

Cyclic credit interest (daily interest): .5% interest is charged every day. The minimum charge is 1 yuan

SMS notification fee for consumption: 3 yuan.

guangfa credit card pays by installment, and the repayment on time does not generate interest, only the handling fee. The handling fee for the sixth installment is .7%; So 15, is 15,× .7 %× 6 = 63.

I know how to calculate the interest of installment payment of Guangfa Credit Card in minutes

Usually, many cardholders choose credit card installment after using credit card for large consumption or when the current bill cannot be fully repaid. Let's introduce the interest on installment payment of Guangfa Credit Card to cardholders. In fact, the installment bank of credit card does not charge interest, but it will charge a handling fee, which is equivalent to "interest" in disguise.

application time for installment payment of Guangfa Credit Card

: The time for applying for installment payment of bills must be from the next day of the current billing date to the second day of repayment due;

application method: cardholders can apply through online banking, mobile banking, uplink and downlink SMS, short links, WeChat, Yixin, ATM, CRS, smart banking, Lacarra terminal and 9558 customer service hotline;

installment number and rate: it can be divided into 6, 12, 18 and 24 installments, and the corresponding rates are,,,;

handling fee: the repayable principal of each installment = the installment amount applied by the cardholder ÷ the number of installments, and the handling fee = the number of installments × the installment amount × the installment rate.

Take a chestnut as an example:

Xiaoming holds a credit card of Guangfa Bank, and the bill consumption in this period is 2, yuan. Xiaoming has handled the credit card bill installment business, which is divided into six periods, so the handling fee payable by him in each period is 2,× yuan, and the total handling fee is 14×6=84 yuan. The principal to be repaid in each installment is 2/6= Yuan.

How to calculate the installment interest of Guangfa Credit Card

The algorithm of installment interest of Guangfa Credit Card: 6/12 installments, and the installment fee is .65% of the applied principal; 18 installments, the installment fee is .7% of the application principal; 24 installments, the installment fee is .72% of the application principal; If it is repaid in advance, the unpaid handling fee for the remaining installments will be charged at one time.

guangfa credit card is the first domestic standard credit card issued by guangfa bank in 1995, and it is also the first profitable credit card. The credit line of the card is preset according to international standards, and it is used for overdraft consumption and cash withdrawal transactions without pre-deposit. The interest-free period for overdraft consumption can be as long as 5 days. You can enjoy the interest-free treatment from the transaction date to the repayment due date as long as you repay in full before the repayment due date stipulated by the bank. The repayment method is flexible, you can pay off in full, or you can choose the minimum repayment amount, enjoy revolving credit and manage your finances more freely.