How to calculate credit card installment repayment interest?

Credit card installment repayment in advance. If the installment interest is paid in one installment, then the early repayment will not refund the money already paid. Interest. The installment fee is paid monthly, and the interest on early repayment is calculated until the day the principal and interest are paid off to the bank. In addition, users may be required to pay a portion of liquidated damages.

When a user settles a credit card installment in advance, the bank may also require the bank to pay a one-time payment of the unpaid installment fee for the remaining principal.

Credit card cash installment interest: The cash installment business has 3 to 24 periods to choose from, and the basic handling rate for each period is as follows. 3 periods are 0.95, 6 periods are 0.80, 10 periods are 0.75, 12 periods are 0.75, 18 periods are 0.75, and 24 periods are 0.75.

Extended information:

Regarding this issue, in fact, there are differences in the installment interest rates of different banks. Therefore, it is best for everyone to find out clearly from the card issuer before applying for credit card installment. The general calculation is as follows:

1. Credit card installment interest: If you choose to repay the minimum repayment amount, most banks use the full interest calculation method, starting from the date the consumption is recorded, and charge 10,000 per day. Five (i.e. 0.05) interest, compounded monthly.

Therefore, early repayment in credit card installments is not necessarily cost-effective. When users repay in advance, it is best to calculate it themselves.

After applying for credit card installment repayment, you can repay in advance, but you can only repay the entire amount in advance at one time. Repaying part of the amount in advance is not supported. If you want to repay in advance after the installment, you need to contact the bank to terminate it. For credit card installments, the remaining installment amount after the installment is terminated will be billed in one lump sum on the next billing date, and then all the balance will be paid off before the repayment date.

Most banks have such regulations for credit card installments: even if the loan is repaid in advance, the handling fee will still be charged.

Bank of China

The installment fee will be charged once in the first installment and will not be refunded once collected.

China Construction Bank

The handling fee is collected in installments. The cardholder has successfully applied for the bill installment. If he applies for early repayment, he must pay all the remaining principal and handling fees in one lump sum. , the installment handling fee collected will not be refunded.

China Merchants Bank

The handling fee is collected in installments. If you need to cancel the installment or repay it in advance, you need to apply for installment settlement. The undisbursed installment amount and handling fee must be paid off in one go. , early settlement cannot be revoked.

Bank of Communications

The handling fee is collected in installments. If the installment ends early, the handling fee collected will not be refunded, and the remaining handling fee must be paid in one lump sum.

Guangfa Bank

The handling fee is collected in installments. Early installment repayment can be conveniently processed in online banking. After the early payment is successfully registered, the remaining outstanding handling fees and unpaid principal must be repaid in one go. gold.

Minsheng Bank

The handling fee is charged in installments. For early repayment, the unpaid principal and all handling fees for the remaining periods that have not been paid will be deducted from the account in one go, and Handling fees collected are not refundable.

Hua Xia Bank

The handling fee is collected in installments, and the handling fee for the remaining installments also needs to be paid as usual.

How to calculate credit card installment interest?

There is no interest after the credit card installment. Only the installment fee is charged. The credit card installment fee = the installment balance installment rate. The credit card installment fee rate is generally related to the number of installments. The longer the installment number, the higher the fee rate. The installment fee rates of different banks vary. It is best to find out clearly from the card-issuing bank before applying for a credit card installment.

The annualized interest rate, or "annualized rate of return", is the interest rate discounted by discounting the product's inherent rate of return to the entire year. The annualized interest rate is the theoretical rate of return, not the actual rate of return. Unlike annual yield, which is the ratio of a fund's actual return to that of an investment over a year. Annualized rate of return refers to the annual rate of return in the past 7 days converted into net income per 10,000 fund units.

The annualized rate of return calculation formula is:

Annualized rate of return = [(investment return rate ÷ principal) ÷ ??number of investment days] × 365 × 100;

Annualized income = principal × annualized rate of return;

Actual income = principal × annualized rate of return × number of investment days ÷ 365

: 1: What is a credit card?

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