What is the minimum repayment interest of Guangfa Credit Card 18,000?

Arrearage other than the minimum repayment will be charged with interest at an interest rate of 0.05% per day, and will accumulate until the next repayment date. For a bill of 18,000 yuan, the minimum repayment is 1,800, and the remaining 16,200 will be charged every day. Eight yuan of interest will be generated. Calculated based on 30 days, the total interest generated is 240 yuan

How to calculate the minimum repayment amount and interest of Guangfa Credit Card

The lowest payment amount of Guangfa Bank Credit Card Repayment amount calculation method:

1. If you cannot repay in full after consumption or cash withdrawal, you can repay according to the minimum repayment amount

A daily interest rate of 0.05% will be charged

The minimum repayment amount is:

10% of the current consumption amount

10% of the current overdraft cash withdrawal

The balance due last month should be Repayment

Interest and fees this month

2. Repay with the minimum repayment amount

It will not affect your personal credit record

To repay according to the minimum repayment amount, it is best to pay attention to each period's statement

It is listed above

You can also call customer service to inquire

Guangfa Bank customer service phone number

95508

3. Whether you use a credit card for consumption or cash withdrawal

It is required that the last payment day of each month must be repaid with no less than the minimum repayment amount.

Otherwise, a record of late payment fees will be charged

Once a bad credit record occurs

It will be difficult to apply for a credit card and loan at the bank in the future

If If the overdraft withdrawal is overdue, if the overdraft card consumption is overdue and the minimum repayment amount is made, the interest will be calculated at the daily interest rate of 5/10,000, and a late payment penalty of 5% of the principal and interest for the month will be added. This will be carried into the next period, and compound interest will be calculated at the daily interest rate of 5/10,000. , and a late payment penalty of 5% of the second month's principal and interest will be added. By analogy, this is equivalent to a monthly interest rate of 65.75/1000, which is commonly known as 6 cents 5 cents 75. This is how compound interest is calculated

Repaying with the minimum repayment will not affect your personal credit record. When repaying the minimum repayment, it is best to pay attention to each period's statement, above They are all listed, and you can also call customer service for inquiries. Guangfa Bank customer service hotline is 95508.

Whether you use a credit card for consumption or cash withdrawal, you are required to repay at least the minimum payment amount on the last repayment day of each month. Otherwise, you will be charged a late fee. Once a bad credit record occurs, it will be very difficult in the future. It is difficult to apply for credit cards and loans at banks.

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Interest will accrue if you make the minimum repayment on Guangfa Bank credit card.

The minimum repayment interest for Guangfa Bank’s credit card is 0.05% per day.

For example, the amount you should repay is 3,000, and the final payment is on the 22nd. If you pay the minimum repayment amount before the 22nd, the bank will charge you 50,000 of 3,000 every day starting from the 24th, that is You will be charged 1.5 yuan in interest every day.

It can be seen that the interest on the minimum repayment is still quite high, so if conditions permit, it is best to pay it all off and there will be no interest.