How to calculate the installment rate?

The algorithm of installment rate: the principal payable in each consumption installment = the total principal amount of consumption installments ÷ the number of installments; the handling fee in each consumption installment = the principal payable in each consumption installment × corresponding period The handling fee rate for each installment is the number; the handling fee for each installment of bill installments = the principal repayable for each installment of bill × the number of corresponding installments; the handling fee rate for monthly installments; the number of installments that can be applied for for bill installments are 3, 6, 9, 12, 18, 24, and 36 installments; once the installment application is successful, it is irrevocable. Even if the installment is terminated early, the handling fee for each installment will still be charged. The installment rates of different banks are different, and you can calculate them based on your specific circumstances.

1. Credit card installments can be repaid in advance in one lump sum: After the cardholder activates installment repayment, once the number and amount of installment repayments are determined, there is no way to change it. It’s okay to have enough spare money to repay in advance but also want to repay in advance. However, it should be noted that you will still have to pay corresponding handling fees for early repayment, including the installment and uninstalled portions. After the credit card installment is paid off in advance, the credit limit of your credit card will be restored to the original fixed limit, and you do not have to worry about overdue repayment, but the handling fee will still have to be borne in full; how to pay off the credit card installment in one go: If the credit card installment business requires a one-time repayment in advance, the cardholder can contact the bank's customer service staff to apply. The bank reserves the right whether the application is approved or not. Once the application is approved, the cardholder can repay the uninstalled principal and the installment fee to the credit card. If you do not contact customer service in advance, even if you deposit all the money into the account, the system will not automatically process it. Deduction.

2. The consequences of not repaying the installment loan after it expires are: late payment fees will be incurred for installment loans, and 1% of the bill amount will be charged as a late fee every day for installment bills; for non-installment bills, there will be a daily late payment fee. Two thousandths of the bill amount will be charged as a late payment fee; after the overdue payment, you will receive collection calls from Fenqile every day. If the amount is large, there will be door-to-door collection; after the payment is overdue, personal credit reports will be negative. records will affect future loan applications on other platforms; if it is not approved by the installment loan platform, the personal property will be frozen for safekeeping. If the platform wins the lawsuit, the borrower must pay off all arrears and pay litigation costs. If it is serious, you will also have to bear corresponding legal liability.

Don’t be fooled again, the annual interest rate calculation formula for installment loans

The calculation formula for installment repayment interest is: rate number of installments 24/number of installments 1. For example, Ping An Puhui Loan has a monthly interest rate of 6%. Applying the formula, it is 0.61224/13=13.29%. For example, the ICBC credit card installment rate is 0.7, and the installment rate is 12 months, and the interest is 0.71224/13=15.51%.

Whenever installment payments are involved, if you want to know the annual interest rate, please apply the above formula and you will never be fooled by financial institutions again.

Ant borrows money with a daily interest rate of RMB 40,000, and the annual interest rate is as high as 26%. The Weili loan has a daily interest rate of RMB 20,000, and the annual interest rate is 13%.

How many people have been deceived because they do not know how to calculate the interest on installment payments. When paying in installments, the principal held every month is decreasing, but the rate remains unchanged. For example, if you borrow 120,000 from the bank at the beginning of the month, each The monthly repayment is 10,000 yuan. In the last month, the bank only owed 10,000 yuan, but the bank still calculated interest on 120,000 yuan. In fact, the borrower suffered a huge loss.

I don’t know who invented this thing. It is used by various financial institutions. Most people want to hold a loan and pay it back to the bank in one lump sum with interest, so that the principal can be Always keep it in hand. Banks don't do this and let you pay in installments.

When you deposit in a bank, the principal is kept for one year, and finally the bank gives you the money with interest. In this way, the bank holds your principal for one year and gives you 4% interest, and you lose a lot. .

No one can play with the bank. When it comes to money, individuals will occasionally suffer losses, but banks never suffer losses, and they never make transactions that suffer losses.

The poor put their hard-earned money into the bank for a year, and the interest is very low. The bank lends the money to the rich at high interest rates, and requires the rich to repay it in installments. Use money to open factories, hire poor people to work, and pay wages to poor people. The poor continue to deposit money in banks after receiving their wages, and banks continue to lend money. The poor work every day and find that prices rise faster than their wages. When their wages rise to 10,000, they find that house prices have risen to 30,000.

The rich use their earned money to invest, such as buying a house. What they bought for 10,000 yuan has now increased to 30,000 yuan. Money makes money much faster than hard work. Then the rich use the money earned from buying houses to continue investing, such as fixed investment and compound interest. After 10 years, 1 million has increased to 10 million, and it continues to rise. The rich can have financial freedom, and their assets will automatically increase in value. They don’t have to work, and passive income has been achieved. More than the monthly expenses. For example, the landlord in Shenzhen reads the electricity meter on the 28th, collects the rent on the 30th, and plays mahjong the rest of the time. He still has income even after sleeping every day. A poor person works for 100,000 yuan a year. If he doesn't work that day, he will have no income. Once he retires, his retirement salary will only be 35% of the working salary. The poor have been working all their lives to pay bills, earn wages and then consume. Once there is no wages, they will fall into panic and have become slaves to money. The rich drive a BMW and want to trade in a Bentley, while the poor drive a Jetta and want to trade in an electric car. The gap is getting wider and wider.

There is a description of the rich and the poor in "A Brief History of Humanity". In ancient times, the stronger the body, the easier it was to survive. In modern society, wise people often occupy the top resources of society, while those with strong bodies Often relegated to the bottom of society.

Which is greater, the value of an outstanding entrepreneur or the value of 10,000 employees in the factory? For example, no matter how hardworking 10,000 express delivery workers are, they will not be able to build a big company. Without Jack Ma’s command, the people below will No matter how busy I am, I can’t do Taobao.

The ancients said that three cobblers are equal to Zhuge Liang, but they are not necessarily right. For example, Chairman Mao proposed the theory of protracted war. Without this theory, the Chinese revolution would not know where it would go. For example, Deng Xiaoping proposed reform and opening up. Without this policy, China would not be what it is today.

In the past, our education was about the people creating history, but when I was in college, my teacher said that social development was created by the elite, and all social services prioritized the needs of the elite, and were finally made available to the masses. Think about airplanes. They used to be used by rich people, but slowly they became popular among ordinary people. How could ordinary people afford the old Big Brother?

I have to admit that in the long history, most of the people are melon-eating people. If you look at historical records, those who can be included in the history books are not ordinary people, and those who can write history books are not ordinary people. In ancient times, Most of the people are illiterate and cannot write at all.

CCTV used to have a program called "Win in China", with guests including Jack Ma, Liu Chuanzhi, Shi Yuzhu, and many more. A guest said something that shocked China. Whether it is studying or starting a business, everything is not as good as life. A person's temperament, appearance, conversation and culture are all closely related to his family. For example, my classmates in primary school who came from rich families are still living a good life, and those who had a hard life in primary school are still having a hard time...

Of course there are also good ones, such as Fifth Brother , now you are very rich, virtuous, good character, have many opportunities, and God is also blessing you. God rewards hard work. For example, I am poor when I am young, but I do not give in to fate, so now I have the opportunity to read a lot of books, go to many places, and write some articles when I have nothing to do. If I didn’t work hard, I would still be herding sheep at home.

When God closes a door for you, he will also open a window for you.

How to calculate the credit card installment interest rate?

Annual interest rate = installment handling rate / (number of installments 1) 24 = single-stage handling rate number of installments / (number of installments 1) 24, the most common handling fee of 12 installments is 7.2%, which is equivalent to 7.2/(121)24=13.29% annual interest rate.

ICBC’s handling fee for 12 installments is 3.58%, with an annualized interest rate of 6.61%, which is equivalent to 1.1 times the one-year loan benchmark interest rate of 6.0%. It is charged in installments of 0.0358/1324=0.06609=6.61% in the first installment. , the annualized interest rate should be divided by (1-installment fee). The first installment charge is 0.0358/1324/(1-0.0358)=0.06854=6.85%

As for this question, the charging standards (high or low) of each bank are different, and the collection method (collection in installments or one-time collection ) are also different, and the collection categories (consumption installments, bill installments, credit card mall installments or physical mall installments) are also different. For details, you have to check on the credit card websites of major banks, or call the credit card center customer service and they will explain it in detail. You listened.

This is divided into two types: nominal interest rate and real interest rate.

Nominal interest rate

Nominal interest rate is relatively simple. There is no need to calculate it at all. It is whatever it is. For example, if you spend an amount of 6,000 yuan with a credit card, you want to divide it. For 12 installments, the bank tells you that the handling fee for each installment is 0.6%, so the annual interest rate is 0.612=7.2%, then the monthly principal needs to be paid back 600012=500, and the monthly interest is 60000.6%=36 yuan, the total** *Need to exchange interest 3612=432 yuan.

Of course, in addition to charging the handling fee in installments, there is also a one-time charging fee, which is slightly higher than the handling fee for analysis, but the entire handling fee needs to be paid back in the first period at once. , decide for yourself which one is suitable.

Actual interest rate

After reading the above example, do you think there is something wrong? It is obvious that the principal owed is getting smaller and smaller, but the interest still has to be paid according to the total amount. By the way, this is a mathematical game. To know what interest rate you pay for each cent of principal, you need to introduce a concept, the actual interest rate.

It sounds complicated, but fortunately both Excel and WPS provide internal formulas for us to use. Below I will teach you how to use the formula to calculate the actual interest rate.

It is still calculated based on 6,000 yuan, divided into 12 installments, and the rate for each installment is 0.6%. Enter the principal of 6,000 in the first line, and enter the monthly repayment of 436 in the second to thirteenth lines. Note that due to the repayment It is the opposite relative to the loan principal, so we have to enter -436, then on the fourteenth line, click the formula in the menu bar, select the IRR function, select the first to thirtieth rows, and you can get each The monthly actual interest rate is 1.0862%. If you multiply 1.0862% by 12 months, the annual actual interest rate is 13.03%.

How is the installment rate of credit card calculated?

1. There are currently two methods for collecting installment fees (interest). One is better for consumers, which is to charge each installment. For example, 0.5%, that is 40000.5%4000/12 = the amount that needs to be repaid every month; another method is good for the bank, such as an interest rate of 6%, and 40006% is collected in full in the first month, and every subsequent month The monthly repayment is only 4000/12 of the principal.

2. Credit card installment payment

(1) Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the cardholder's purchase. The process of using funds for consumption of goods (or services) and then allowing the cardholder to repay the bank in installments and pay handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

(2) Handling fee: Generally speaking, the one-year handling fee for credit card installment payment is lower than the annual cash withdrawal interest of 18% and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

(3) Advantages:

Enjoy it first, pay later.

No guarantor required and the procedure is simple.

Timed and fixed amount, easy payment.

Pay as you please with any monthly repayment amount

More space to choose payment methods.

How to calculate the interest on installment payment

It can be analyzed as follows:

1. There is no interest in mobile phone installment and it is not allowed. Generally In this case, about 5~6% of the total amount is the so-called handling fee. It depends on the store, ranging from 1% to 4.5% per installment depending on the length of the installment period.

2. The monthly payment fee is calculated as follows: transaction amount X (1~4.5)% transaction amount ÷ number of periods = monthly payment amount.

3. When buying a mobile phone in installments, the actual payment is generally about 500 to 600 higher than the price of the mobile phone.

Extended information

1. The bank's installment repayment is a segmented payment introduced in order to avoid penalty interest based on the entire consumption limit when the customer is unable to repay the credit card overdraft amount in one go. Repayment business.

2. Compared with the installment payment business, the application procedures and application scope of installment repayment are different.

For example, if Xiao Li wants to use the installment payment service to buy a mobile phone, he should go to a store that cooperates with credit cards. As for the installment repayment business, there is no need to specify the consumption place and consumption category. If the customer realizes that he cannot repay the loan in full on time after swiping the card, he can call to apply. However, it should be noted that the installment repayment fee is relatively high, which is generally higher than the commercial loan interest rate for the same period.

How to calculate the installment handling fee

The installment handling fee = the installment amount X the monthly installment rate X the number of installments.

1. 1. Credit card installment fee (i.e. consumption installment fee). The consumption installment fee is a fixed fee. Even if the consumption amount is paid off in advance, the borrower must still pay off the installment fee.

2. Loan interest is the cost of borrowing money. This fee is calculated based on the "interest rate". If the borrower pays off the loan early, the interest will be settled until the day of early repayment.

2. Interest Calculation Method

1. Credit card installment interest rates for bank credit card installment payments and consumer installment credit products are calculated based on the principal repaid and the principal to be repaid. Interest is calculated on the total.

2. Interest is calculated and charged on the outstanding principal, and is mostly used in bank loans. Almost all banks' consumer installment products have liquidated damages. Early repayment is only the settlement of the installment loan on the credit report, but all installment fees are still charged. Therefore, the longer the installment period, the earlier the early repayment, and the lower the annual interest rate of early repayment. This is just an illusion in credit card installments.

3. Installment fees of major banks! First, let’s look at the four giants:

1. Bank of China

3 issues, 6 issues, 9 issues, 12 issues, 18 issues, 24 issues

1.95%3.60%5.40 %7.20%11.70%15.00%

2. China Construction Bank 3 Phases 6 Phases 9 Phases 12 Phases 18 Phases 24 Phases

2.60%4.20%—7.20%11.00%15.00%

3. Agricultural Bank of China 3 Phases 6 Phases 9 Phases 12 Phases 18 Phases 24 Phases

1.80%3.60%5.40%7.20%10.80%14.40%

4. Industry and Commerce Bank 3 phases, 6 phases, 9 phases, 12 phases, 18 phases, 24 phases

1.65% 3.60% 5.40% 7.20% 11.70% 15.60%

About how to calculate the loan installment rate and loan installment fee This is the end of the introduction to what rate means. I wonder if you found the information you need?