Interest expenses are usually calculated based on daily interest rate of 0.5%.

Some banks stipulate that within 15 days from the accounting date, the daily interest rate will be calculated at 0.5%, and if it exceeds 15 days, the daily interest rate will be calculated at 10%. If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, Calculated based on the daily interest rate of 15/10,000, the longer the arrears are, the higher the penalty interest will be.

For example: the billing date is the 10th of each month, the final repayment date is the 28th, and 10,000 yuan was consumed on June 11th, and it is July 28th, then the bill on August 10th will be The recurring interest expense is: 10,000 yuan × 0.5‰ × (July 28 to June 11) × 0.5‰ × (August 10 to July 28) = 293.5 yuan.

If the cardholder fails to repay even the minimum repayment amount, in addition to recurring interest charges, there will also be a late payment fee calculated at 5% of the unpaid portion of the minimum repayment amount. If you repay 500 yuan, the late payment fee is (1,000 yuan ~ 500 yuan) × 5% = 25 yuan.

Extended information:

The main function of the repayment date is for banks to determine whether the cardholder has a malicious overdraft tendency and to determine the cardholder's financial status. Therefore, repayment after the final repayment date will inevitably result in an overdue record.

When a credit card (credit card) holder chooses the minimum repayment method or uses the card beyond the credit limit approved by the card-issuing bank, he will no longer enjoy the interest-free repayment period and must pay the unpaid portion of the loan. Overdraft interest is calculated based on the prescribed interest rate from the bank accounting date.

Baidu Encyclopedia—Credit Card Repayment