Depending on the card, the one-year installment fee is basically about 0.7%.

The one-year installment interest rate is calculated as 7.2%, then the principal of each installment is: 1666.67 yuan, and the handling fee is 132 yuan.

20000*0.7%*12=about 1680.

The monthly repayment is about 20000/12+140=1807.

Based on the current national interest rates, the base interest rate for overdue credit card repayments and cash withdrawals is 50,000 per day, and the intraday interest rate is 0.05%. Then the interest for borrowing 20,000 yuan for one year is 20,000*0.05 %*360=3600 yuan. It should be noted that installments incur handling fees.

How to quickly calculate the real interest rate

The real interest rate is the interest rate first, then the principal. So how to quickly convert the credit card installment interest rate into the real interest rate? A quick calculation method, Just multiply the equal principal and interest rate by 12, then multiply by 2 and subtract 1 to get the approximate real interest rate. For example, the interest rate for equal principal and interest is 0.6%*12*2-1=13.4%.

The credit card installment we usually refer to refers to the credit card bill installment, which means dividing the credit card overdraft limit into several times and paying it back to the bank. After consumption, apply to the bank to repay the consumption amount in installments. During the bill installment process, banks generally charge handling fees. Generally speaking, you can apply for interest-free installments of 3, 6, 9, 12, 18, and 24 installments. If it is an emergency, a credit card overdraft limit can still play a big role, and repaying it in installments can relieve financial pressure. However, installment fees and interest are required, so please consider carefully.

In fact, you can also pay in installments when buying things online. Let me introduce it to you using Taobao as an example:

(Take ThinkPad X13 Ryzen Edition laptop, Windows 10 as an example)

1. Select a seller that supports credit card installment and click Buy Now.

2. On the order confirmation page, check Credit Card Installment Payment. Combined payment is supported. All combined transactions must support credit card installments. When paying for multiple transactions, as long as the cumulative bank channel payment is greater than 600 yuan.

3. Select the bank, fill in the information and confirm the payment (if you do not want to use a credit card to pay in installments, you can select "Do not use installment payment").

4. Choose to use installment. The default is 12 installments. The number of installments, handling fees, rates and the repayment amount of each installment will also be displayed.

5. Click the drop-down box of the number of installments to modify the number of installments.

6. Click on the installment rules and the specific rules of the installment will be displayed.

7. Enter the payment password to complete the payment.