How to calculate ICBC credit card installment interest/handling fees?
Credit cards not only have the function of interest-free overdraft consumption, but also can be paid in installments to ease the repayment pressure of cardholders. However, installment payments are not without free lunch, and there are interest/handling fees. Today I would like to introduce to you how to calculate interest/handling fees for ICBC credit card installment payments.
As the principal cardholder of an ICBC credit card, as long as your consumption amount or bill amount is greater than or equal to 600 yuan or equivalent, you can apply for the installment payment business.
The ICBC credit card installment interest/handling fee rates are as follows:
The rate standard for installments of 3 installments, 6 installments, 9 installments, 12 installments, 18 installments, 24 installments and above is: ICBC's benchmark reference value. When different cardholders apply for credit card installment payments, the bank will make appropriate adjustments based on the customer's credit conditions. Everything is subject to the review results.
How to calculate ICBC credit card installment interest/handling fees? It can be calculated according to the following formula:
ICBC credit card installment interest/handling fee = total installment amount, rate per installment, number of installments
For example, if a novice cardholder is buying When buying electrical appliances, the order amount was 2,000 yuan. He chose to ask the salesperson to directly apply for installment payment with an ICBC credit card for him. He chose to pay it off in 6 installments. The installment rate approved by the bank was then. Card friend Xiaobai asked for the total interest/handling fee. The amount is: 2,000 yuan; the interest/handling fee per period is: 75/6= yuan.
How to calculate the interest/handling fees for ICBC credit card installment payment? Through the above introduction, everyone should know how to calculate it. The key lies in the rate determined by the bank. Compared with other banks' credit card installment rates, ICBC is still relatively cost-effective.
How to calculate credit card installment interest?
Credit card installment payments generally have no interest and only charge handling fees. Whether there are points depends on the specific installment purchases. For example, there are generally no points for buying a car with a credit card, but there are generally points for paying with a credit card for restaurants and supermarkets. , In addition, banks often have activities that give points when paying bills in installments.
The following are the installment fee standards of several banks:
1. ICBC credit card installment fee: no fee for 3 periods, 1.8% for 6 periods, 2.7% for 9 periods, 12 3.6% for each period, 5.85% for 18th period, and 15.6% for 24th period. (One-time charge)
2. Agricultural Bank of China credit card installment fee: 0.6% per month (charged every month).
3. Bank of China credit card installment fee: 1.95% for 3 periods, 3.6% for 6 periods, 5.4% for 9 periods, 7.5% for 12 periods, 11.7% for 18 periods, 15% for 24 periods (one-time charge)< /p>
4. CCB credit card installment fee: 0.7% for 3rd period, 0.6% for 6th period and 12th period (charged every month).
5. CITIC Bank credit card installment fee: 1.50% for 1 period, 0.82% for 3 periods, 0.82% for 6 periods, and 0.77% for 12 periods (charged every month).
6. Pudong Development Bank credit card installment fee: 0.72% for 3 periods, 0.7% for 6 periods, 0.66% for 12 periods (charged every month)
7. China Merchants Bank credit card installment fee: 1.0% for 2nd period, 0.9% for 3rd period, 0.75% for 6th period, 0.7% for 10th period, 0.66% for 12th period, 0.68% for 18th period, 0.68% for 24th period (charged every month).
8. Bank of Communications credit card installment fee: 0.72% per month (charged every month).
9. Guangfa Credit Card Installment Fee: 0.65% for 6th and 12th periods, 0.7% for 18th period, and 0.72% for 24th period (charged every month).
How to calculate interest on ICBC credit card installment payment?
If ICBC handles installment payment and repays the bill in full and on time, no interest will be charged, only a handling fee. The current lowest rates for conversion of consumption into installments and bill installments are:
2.25% for 3rd period, 4.2% for 6th period, 6.3% for 9th period, 7.2% for 12th period, 11.25% for 18th period, 14.88% for 24th period , 22.32% in period 36.
Warm reminder:
1. Different regions and different credit card products will be different. There are also marketing activities at different times, so the rates will also change. Please The actual rate displayed by the system during processing shall prevail.
2. You can log in to mobile banking and handle installment business through the "Credit Card - Installment Payment/Bill Installment" function. During the operation, the system will display the handling fee collection method and interest rate, and automatically calculate the handling fee you need to pay.
(Answer time: January 18, 2022. In case of business changes, please refer to the actual situation.)
That’s it for the introduction of how to calculate ICBC credit card installment interest. .