Question 2: What does the installment rate mean? Credit card installment refers to the process that the bank pays the consumer funds of the goods (or services) purchased by the cardholder in one lump sum when the cardholder uses the credit card to make a large amount of consumption, and then the cardholder repays the money to the bank in installments. According to the cardholder's application, the bank deducts the consumption funds by stages through the cardholder's credit card account, and the cardholder repays according to the monthly amount.
service charge
In the early days of credit card installment business, banks often advertised under the banner of "interest-free", and many citizens were really fooled. In fact, interest-free is not free, just a different name.
Credit card installment payment
Generally speaking, the handling fee of credit card installment 1 year is lower than the annual cash withdrawal interest 18%, and higher than the bank commercial loan interest 1 year 5.3 1%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times since last year, but the standards of credit card installment fees and cash withdrawal interest have rarely changed. Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.
Suppose the installment amount is 1.200 yuan, divided into 12 installments, and each installment (month) repays 1.000 yuan, and the handling fee is 0.6%/ month, and the actual monthly deduction is100+1.200× 0. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. But the cardholder did not always owe the bank 1.200 yuan. In the last month, he actually only owed the bank 1 1,000 yuan, but the bank still charged the handling fee according to 1, 200 yuan. According to the calculation, the actual annual interest rate that the cardholder has to pay is about 15.48%. According to the correct calculation formula, it should be1200 * 6% * (1+6%)12/(1+b)12-1) =/kloc.
superiority
The main benefits of credit card installment payment:
Enjoy first, then pay.
Without a guarantor, the procedure is simple.
Fixed time and easy payment.
Free of payment and monthly repayment.
More room to choose payment methods.
Question 3: What does the installment fee mean in credit card installment? Is it available in every issue? 102.32 yuan is the installment fee, which is paid in one lump sum, and there is no fee for the second installment. The handling fee rate of the sixth installment payment of Industrial Bank is 3.9% (2623.5438+0x3.9% =102.32 yuan).
Question 4: Installment rate: What do you mean? The installment rate of each bank is different, and each bank will organize some activities, and the rate will be lowered during the activities. As for the calculation, you can use the principal * interest rate. For example, the rate of ICBC 12 is 3.6%, and 5000*3.6%= 180 yuan.
Question 5: How much is the installment fee? Do you mean interest? Hello, the installment fee refers to the bank's handling fee for your installment. And interest are different concepts.
The handling fee is charged in one lump sum, and the interest is calculated according to compound interest.
Please know, if you are satisfied, please adopt it. Thank you.
Question 6: What's the difference between interest and handling fee for installment payment?
Many banks claim that there is no interest, but the tricky thing is the handling fee for each period. In recent years, banks are vigorously promoting the consumption mode of credit card installment payment, and in order to alleviate the economic pressure of one-time payment, cardholders have also taken a fancy to the "interest-free" feature of installment payment and opened this function one after another. However, many citizens attracted by the word "interest-free" found that although installment payment is interest-free, the handling fee is extremely high, and the total price after installment payment is usually more than 6% higher than the original price. To this end, experts reminded that citizens need to consider carefully before opening installment payment.
The total price of buying LCD TVs in installments is more than 900 yuan.
A few days ago, Mr. Wang called to report that during the Spring Festival this year, he bought an LCD TV and paid 12000 yuan with a credit card. Prompted by the short message from the issuing bank, Mr. Wang chose 12 month installment. Mr. Wang thinks it's interest-free anyway. Why not? But after the first statement was issued, Mr. Wang was dumbfounded. The repayment amount of 1000 yuan per installment has become 1078 yuan, which means that after 12 months, Mr. Wang has to spend another 936 yuan. After calling the bank's customer service phone, Mr. Wang realized that the extra 78 yuan paid every month is the handling fee for installment payment. "I am completely free, with zero interest. I didn't expect there was a handling fee. " Mr. Wang said.
A few days ago, I interviewed some citizens randomly in the street, and found that more than 70% of the citizens misunderstood "zero interest" and generally thought that "zero interest" was "completely free". Ms. Liu, a citizen, said that the bank rarely specified the expenses involved in the payment in the publicity of credit card installment payment, which misled the majority of credit card consumers.
The installment fee is twice the interest of commercial loans.
Although installment payment can alleviate the short-term financial pressure of consumers to a certain extent, I found in the interview that although the bank is under the banner of "interest-free", the fees charged are not low.
After consulting the industry, I calculated an account: if a consumer swipes a credit card 12000 yuan at one time and then applies for 12 installment payment, he only needs to repay 1000 yuan every month. At first glance, the repayment pressure has been reduced a lot, but what consumers didn't expect is that although installment payment doesn't require extra interest, the bank will deduct an extra handling fee of about 0.6% of the consumption amount every month, that is, the monthly 72 yuan. After calculation, after 12 installment, the total amount actually paid by consumers is12,864 yuan, and the annual interest rate is as high as11.8%-this interest rate is more than twice the annual interest rate of one-year commercial loans (5.3 1%)!
It is worth mentioning that since last year, the loan interest rate of commercial banks has been lowered many times, but the standards of credit card installment fee and current interest rate (18%) have rarely changed.
Banks have the right to set their own fees and interest rates.
There are two main ways to charge by installment-lump sum and installment. At present, the banks that use one-time charges mainly include Industrial and Commercial Bank of China and Industrial Bank. China Merchants Bank, China Construction Bank, Bank of Communications, China Everbright Bank, Shenzhen Development Bank, etc.
According to relevant regulations, commercial banks have the right to decide their own fees and rates. If citizens want to handle the installment payment business, it is best to consult the rates of different amounts in advance. The reporter learned that for cardholders, compared with one-time collection, the handling fee for installment is relatively favorable.
In addition, since it is credit card consumption, late payment is required, and credit card installment payment is no exception, which is often ignored by many consumers. I understand that most credit card installment business will be explained in the detailed rules. In any repayment period, if the installment repayment amount is overdue, a late fee will still be charged.
Question 7: What do you mean by zero commission and zero interest on installment payment? If you cheat them 200 now, will they deposit 4200 a year in the bank with interest? After one year, the money is more than 4200. If you pay in installments, they will get less interest on the money after one year than you pay now. As for zero interest, it means that you pay off all 4200 in 12 months. Zero handling fee means that there is no extra charge for handling the formalities. To put it simply, 1200 buys things, and 12 pays in installments, with zero handling fee and zero interest starting from each month.
Question 8: What does the credit card installment fee mean? The installment fee means that the bank lends you money, and then you can't pay it back once. The bank allows you to pay it back in several months, but there will be a certain interest every month.
Question 9: How to calculate the handling fee for mobile phone installment payment? Now Unicom contract machine chooses installment payment, the handling fee is zero and the interest is zero. You can click on a contract machine in Unicom's online business hall and enter the mall.1001goodsdetail/381212076031. If there is an installment icon on the right side of "Buy Now", the contract machine supports installment payment.
Question 10: My credit card can be repaid in installments. What does the commission rate of 0.53% mean? How long is the installment plan? ? Hello, if it is a credit card of China Merchants Bank, it means that there will be a handling fee for your credit card installment shopping business. For example, if you pay 2000 installments and 3 installments, the handling fee for each installment is 2000 * handling fee rate, and the repayment amount for each installment is the installment principal (2000 divided by 3)+ handling fee for each installment.
Our bank provides interest-free installment payment service and offers preferential interest-free monthly payment to customers. During the repayment period, customers use our credit card account to pay monthly, and they can enjoy the interest-free period as long as they repay in full according to the bill amount before the monthly due repayment date. However, there will be installment fees, and the specific charging standards can be used in shops. You can log on to cc.cmbchina/StepShop/,, our credit card website, and click "Shopping by Stages" to make an inquiry. Even if the installment is settled in advance, the handling fee will not be refunded. If you buy installment goods in the credit card mall through our credit card website, you don't have to pay the handling fee.
If you have any questions about other CMB credit cards, please search for "4008205555" among QQ corporate friends and add "CMB Credit Card Center" as your friend; Or search for "cmb4008205555" on WeChat, and pay attention to China Merchants Bank Credit Card Center for consultation. Thank you for your attention and support to China Merchants Bank!