Generally speaking, credit card installment business does not require interest payment, but you need to pay installment fees to the bank. The installment rate is the specific charging standard for the fees.

The installment rate standard needs to be confirmed when applying for installment from the card-issuing bank. Some banks charge a one-time fee, so the installment rate is the standard for the total installment fee; some banks charge each installment. A handling fee is charged, so the installment rate is the monthly handling fee standard.

Extended information:

The credit card installment fee standard is related to the type of installment business selected and the number of installments, but it is generally lower than the daily recurring interest of 0.5%. Therefore, cardholders are more inclined to pay in installments when making large purchases.

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank. The bank will deduct the consumption funds in installments from the cardholder's credit card account based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

Reference material: Credit card installment payment - Baidu Encyclopedia