2. If the credit card bill is not repaid in full on time, interest will be generated. The collection method is that all consumption in this period will be calculated from the day of credit card consumption, and .5% will be charged every day until the day of your repayment. The interest will not be calculated on the repayment part until the repayment day, and the interest will still be calculated at .5% every day after the rest.
3. Cash withdrawal interest: Cash withdrawal does not enjoy interest-free period, and interest is calculated at .5% per day from the cash withdrawal bookkeeping date to the repayment date.
1. At present, the loan interest is mainly calculated by simple interest method, compound interest method, principal and interest installment method, interest first and principal later. If the interest rate is different and the repayment method is different, the loan interest will be different. Then, before handling the loan business, we'd better know the loan interest in advance to see if the loan interest is within our repayment ability, so as to better calculate our financing cost.
2. There are several interest-bearing methods for that loan: Take the loan with a principal of 1, yuan and a loan term of one year as an example. The annual interest of the loan of 1, yuan is related to the loan interest rate and the calculation method of the loan interest.
1. Interest calculation method in simple interest method: At present, commercial banks in China all use simple interest method to calculate the loan interest. Simple interest means that the borrower and the bank have agreed on the loan term, and the lending institution only calculates the interest according to the principal on the interest collection date. If the loan is 1, yuan for one year, the loan interest to be paid for one year will be 1, * 4.35% * 1 according to the benchmark annual interest rate of the central bank. Interest is usually calculated with simple interest after interest, but after interest, interest is paid monthly first, and then the principal is paid in one lump sum at the maturity date of the loan, or the principal and interest are paid in one lump sum at the direct maturity. The calculation formula is: interest = principal × annual interest rate × loan term. 2. Interest calculation method of compound interest method: compound interest method means that when the agreed repayment date is reached, if the repayment interest of the previous period is not received, the interest of the previous period will be included in the principal of the next period as a new interest calculation base to recalculate the loan interest. This calculation method is more common in private lending, and the minimum repayment of credit cards also uses compound interest to calculate interest, that is, there is cyclic interest.