Many friends who hold credit cards must have applied for credit card installments. So, after the credit card installment, can you still repay the full amount at once? Take Ping An Bank Credit Card as an example, let’s take a look with the editor.

Can I pay off the Ping An Credit Card in one lump sum after installment?

Yes. According to Ping An Bank's regulations, credit card installments can be repaid in full in advance. If you choose to repay in one lump sum immediately before the installment is over, you will need to pay a certain handling fee and liquidated damages, but you do not need to pay the unpaid balance as agreed before. A monthly fee for each payment.

For example, I owe a total of 2,400 yuan in 12-month installments. The monthly repayment is 200 yuan, and the handling fee is 20 yuan. Then when I repay the loan two months in advance, You only need to pay the remaining repayment amount and the 200 yuan handling fee for this month. However, you will need to pay a certain amount of liquidated damages for early one-time repayment. The amount depends on the specific bank regulations.

How to calculate the installment of Ping An Credit Card?

(1) The total interest calculation formula for installment repayment of Ping An Credit Card is interest = installment amount * installment fee * number of installments. For example, if a credit card installment is 3,000 yuan in 12 installments, the handling fee is 0.72%. The handling fee for each period is 3000/12.72%+3000/12.

(2) When applying for bill installments, the minimum application amount for each user must not be less than RMB 300; for US dollar bill installments, the minimum application amount for each time must not be less than RMB 100. .

(3) Generally speaking, the more installments of Ping An Credit Card, the more interest there will be. However, some banks will charge installment fees all at once when repaying the first installment, and then only the principal will be repaid. Gold, Bank of China and China Merchants Bank are like this.

The above are some contents of Ping An Credit Card Installment, I hope it can help everyone.