How to calculate the liquidated damages of ICBC

How to calculate the liquidated damages of ICBC credit cards:

1. Peony Dual Currency Credit Card: According to the minimum repayment amount 5 will be charged for the unpaid portion, with a minimum of 1 RMB or 1 Hong Kong dollar or 1 US dollar or 1 euro and a maximum of 500 yuan or 500 Hong Kong dollars or 100 US dollars or 100 euros.

2. Peony RMB Credit Card: 5% of the unpaid portion of the minimum repayment amount will be charged. The minimum is 1 yuan and the maximum is 500 yuan.

3. ICBC credit card late payment fees are charged monthly, and the proportion charged each time is 5% of the unpaid portion of the minimum repayment amount.

If you fail to repay the minimum repayment amount in full before the due payment date (inclusive) for more than two consecutive times (inclusive), our bank has the right to stop using the card.

1. ICBC Credit Card

ICBC Credit Card is the credit card with the highest circulation in China. The main types of ICBC Credit Card include: Peony International Credit Card, Peony Credit Card, and Peony Credit Card; According to the brand of ICBC credit card, it is divided into: Peony Visa Card, Peony MasterCard and Peony Express Card; according to the credit level, it is divided into: platinum card, gold card and ordinary card; according to the issuing object, it is divided into business card and personal card, among which personal card Cards are divided into main cards and secondary cards.

2. The Peony quasi-credit card is issued by the Industrial and Commercial Bank of China. Cardholders are required to deposit a certain amount of reserve fund. When the reserve account balance is insufficient for payment, they can overdraw within the prescribed credit limit. Quasi-credit card. The Peony quasi-credit card can be used for settlement in RMB at UnionPay acceptance points in China, Hong Kong, China, Macau, Thailand, South Korea, Singapore and other countries, and has functions such as transfer settlement, cash deposits and withdrawals, and credit consumption. This Peony quasi-credit card is a quasi-credit card with Chinese characteristics. There is no precedent in other countries in the world. The emergence of this quasi-credit card is a reflection of China's imperfect credit system. Peony quasi-credit card has been discontinued. Peony credit cards and Peony international credit cards that truly meet the needs of the public are the direction of development.

How to calculate the overdue interest on ICBC credit card?

The overdue interest on ICBC credit card is the overdue fee. The late fee refers to failure to pay taxes according to the tax deadline or failure to repay the loan according to the repayment deadline. Charging a certain percentage of the overdue amount based on the number of days overdue is a measure for the tax authorities or creditors to impose economic sanctions on overdue parties. The proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount.

Take ICBC credit card as an example to illustrate the calculation of late payment fees. It is stipulated that the late payment fee shall be RMB 5 of the unpaid portion of the minimum repayment amount, with a minimum of RMB 1. It should be noted that the basis for late payment fees is the unpaid portion of the minimum repayment amount.

The formula for calculating late payment fees for ICBC credit cards: late payment fees = (minimum repayment amount – repaid amount as of the due payment date) × 5.

For example, if a user spends 10,000 yuan with a credit card and the minimum repayment amount is 1,000 yuan, and the payment is not made before the due payment date, the credit card late payment fee charged is: 10,005 = 50 yuan.

For more information on how to calculate overdue interest on ICBC credit cards, go to: View more content

Is a late payment fee of 4,200 for an ICBC loan of NT$50,000 overdue for 3 months expensive?

Not expensive

Currently, the late payment fee for ICBC credit cards is 5% of the minimum repayment amount of the bill. The minimum repayment for 10,000 yuan is 1,000 yuan, and the late payment fee is 50 yuan. Overdue fees for ICBC credit cards = (minimum repayment amount – amount repaid by the due payment date) × 5.

The calculation formula for credit card overdue interest is as follows: Credit card overdue interest = last month’s consumption × number of overdue days × 0.0005. In other words, the longer the credit card is overdue, the more overdue interest will be generated, and it cannot be deducted, so you must repay it on time.

How to calculate the overdraft interest, late payment penalty and repayment amount of ICBC credit card?

This article introduces to you in detail the calculation method of overdraft interest, late payment penalty for overdue repayment of ICBC credit card, and the minimum payment method. The payment calculation method and the specific amount of money you should pay every day will provide you with a reference during use.

Overdraft interest:

The cardholder’s transactions other than cash and transfers are from the bank recording date to the due repayment date notified on the statement (hereinafter referred to as "due repayment"). The interest-free repayment period ends on the payment date (inclusive). If the cardholder repays all the amount due before the due repayment date (inclusive), there is no need to pay overdraft interest for transactions other than cash and transfers.

If the cardholder repays the minimum repayment amount before the due repayment date (inclusive), the card issuer will only charge the unpaid portion at a rate of 50,000 per day from the bank accounting date to the repayment date. Overdraft interest will be charged until the repayment date, and the overdraft interest will be compounded on a monthly basis. If the minimum repayment amount is not repaid before the due repayment date (inclusive), in addition to the overdraft interest payable according to the above interest calculation method, the minimum repayment amount shall also be paid. A late fee of 5% of the unpaid portion of the repayment amount will be paid.

Overdraft cash withdrawals and transfers do not enjoy the interest-free repayment period and should be paid at a rate of 5/10,000 per day from the bank accounting date. Overdraft interest until the repayment date.

Minimum repayment amount: If the cardholder is unable to repay the entire amount due on the due repayment date (inclusive), the minimum repayment amount can be repaid.

Minimum payment amount calculation method: Minimum payment amount = The unpaid portion of the minimum payment amount of the previous period's bill and the overdraft balance of the current period's bill multiplied by 10.

Late payment fee: The cardholder fails to pay when due. If the minimum repayment amount is paid before the repayment date (inclusive), the late payment penalty shall be paid according to the regulations: late payment penalty = the unpaid portion of the minimum repayment amount multiplied by 5.

Over limit and over limit. Fee: If the cardholder exceeds the credit limit of the account approved by the card issuer, and the excess amount is not repaid on the day the account exceeds the limit, the over limit fee shall be paid according to 5.

Repayment order: repay first. Overdrafts that have passed the interest-free repayment period will be repaid later, and repayment will be based on the bank's accounting order.

About how to calculate overdue fees for ICBC credit cards and credit cards. This concludes the introduction to the 5,000 overdue fee. Did you find the information you need?