Interest calculation for revolving credit:

Each consumption amount in the previous statement is the interest-bearing principal, from the date the account is recorded until the account is paid off The end of the day is the number of days for interest accrual, and the daily interest rate is 5/10,000 for the interest accrual rate. Interest on the revolving credit will be shown on your next bill.

Examples of revolving interest:

Mr. Zhang’s bill date is the 10th of each month:

1. The bank printed it for Mr. Zhang on April 10 This bill includes all his transaction accounts from March 11 to April 10;

2. Mr. Zhang only made one purchase in the billing cycle - March 30, the consumption amount is RMB 1,000;

3. Mr. Zhang’s bill for the current period prints the “Amount Due for the Current Period” as RMB 1,000 and the “Minimum Repayment Amount” as RMB 100;

4. Under different repayment situations, Mr. Zhang’s recurring interest is:

① If Mr. Zhang repays 1,000 yuan in full before May 5, it will be included in the statement on the 10th. Revolving interest = 0 yuan;

② If Mr. Zhang only repaid the minimum repayment amount of 100 yuan before May 5, and the 100 yuan was repaid on the 1st, then the recurring interest on the 10th day of the statement will be Interest = 20.50 yuan.

The specific calculation is as follows:

Cyclic interest = 1,000 yuan -100 yuan) "Notice":

Article 18 The maximum overdraft period for credit cards is 60 days.

Article 19 Credit card overdraft interest will be calculated at a daily interest rate of 5/10,000 within 15 days from the date of signature or bank accounting date, and a daily interest rate of 10/10,000 for more than 15 days, and 10/10,000 for more than 30 days. Or if the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Article 20: The overdraft business of each card-issuing bank must be included in its credit scale for management. The overdraft amount is transferred to short-term loan accounting.

Article 21: Malicious overdraft refers to the overdraft behavior of the cardholder for the purpose of illegal possession, exceeding the prescribed limit or prescribed period, and the collection by the card-issuing bank is invalid.

Article 22 The special unit shall not refuse to accept a valid credit card legally held by the cardholder and issued by the contracted bank for any reason, and shall not charge additional fees to the cardholder for using the credit card.

Article 23: Specially contracted entities are not allowed to pay cardholders in cash by pressing cards, signing orders, or returning goods.

Baidu Encyclopedia-Revolving Credit Interest Rate