Is the interest on credit card borrowing high? Interest on credit cards is calculated on a daily basis, with a daily interest rate of 0.05%. After the credit card loan is divided into three installments, the rate is 0.72%, 0.7% for the sixth installment and 0.66% for 12 installment. The loan interest is calculated according to the central bank's benchmark loan interest rate, and the interest rate in 1 year is 4.35%. In addition, the longest interest-free repayment period of credit cards is 56 days, while loans have no interest-free repayment period and must pay interest on time.

How much is a loan of 20,000 12 a month? Different credit cards, different installment rates and different interest rates.

1. ICBC:

ICBC 12' s credit card installment interest rate is 7.2%, so the interest of 12' s credit card installment of 20,000 is: 20,000× 7.2% =1440 yuan.

2. China Merchants Bank:

China Merchants Bank credit cards are divided into 12 installments, and the rate of each installment is 0.53%, so the interest of 12 installment of 20,000 credit cards is: 20,000× 0.53 %×12 =1272 yuan.

3. Bank of Communications:

The Bank of Communications credit card is divided into 12 installments, and the rate of each installment is 0.72%, so the interest of 12 installment of 20,000 credit cards is: 20,000× 0.72% x12 =1728 yuan.

4.Pufa:

Shanghai Pudong Development Bank is divided into 12 installments, and the rate of each installment is 0.8 1%, so the interest of credit card with 20 cents 12 installment is: 20000× 0.81%x12 =1944 yuan. However, it should be noted that the credit card installment rates of major banks are not fixed despite a set of norms. Local banks may adjust the installment rate according to local phenomena and different types of cardholders.

The current deduction standard of China Everbright Bank: 1. Fee standard for withdrawal of installment business: the fee for withdrawal of installment business is equal to the total installment payment multiplied by the corresponding installment payment fee rate, which is deducted in the month when installment payment takes effect, and deducted once in the next period, and the fee for early repayment is non-refundable. At this stage, our bank will start the withdrawal installment business in phases 3, 6 and 9 12, with the calendar period rate.

The details are as follows: 3% for 3rd installment (month), 5% for 6th installment (month), 7% for 9th installment (month),12000 * 9.5% =1140 yuan, and the monthly handling fee.

2. Credit card installment, sales installment, POS installment, optional installment, and smart business credit card installment fee. The rate of 12 installment is: 8.85% for one-time deduction and 0.80% for equal principal and interest in installments. Therefore, one-time deduction is required: 12000 * 8.85 = 1062 yuan+12000/ 12 yuan in the first month, and only 1000 yuan per month from the second month. Repayment of principal and interest in equal installments: 12000 * 0.80% = 96 yuan+12000/ 12, with monthly repayment of 1096 yuan. Looking forward to helping you.