How to calculate the handling fee for early installment repayment of China Merchants Bank's credit card

1. How to calculate the handling fee for early repayment of installment of China Merchants Bank's credit card

How to calculate the handling fee for early repayment of China Merchants Bank's credit card by installment The fee rate is related to the number of installments. The longer the installment period, the lower the handling fee. Currently, China Merchants Bank offers seven installments: 2, 3, 6, 10, 12, 18 and 24. The corresponding handling rates for each installment are 1.0%, 0.9%, 0.75% and 0.7% respectively. , 0.66%, 0.68%, 0.68%. Handling fee per period = total installment principal × handling rate per period for the corresponding period. In addition, China Merchants Bank Credit Card charges liquidated damages in lieu of remaining installment fees. That is to say, except for those who previously chose to pay the handling fee in one go, there is no need to pay a handling fee for early repayment collected in installments. You only need to pay 3% of the outstanding principal as an early repayment handling fee.

For example: The cardholder applies for a China Merchants Bank credit card worth 12,000 yuan in 12 installments, with an interest rate of 0.66% for each installment. The credit card will be repaid in advance after 6 installments. You only need to repay 6,000 yuan of principal, 3% = 6,000 yuan, 180 yuan of liquidated damages = 6,180 yuan, and the total repayment amount is 6,180 yuan.

It should be noted that the handling fee for early repayment of China Merchants Bank credit card installments will not be reduced or reduced, and once the handling fee for installment repayment of China Merchants Bank credit card is collected, it will not be refunded. The handling fee cannot be refunded.

2. How to repay the loan in advance?

Different types of loans have different provisions for early repayment. For some types of loans that do not have the "repay at will" function, you can try to apply for early repayment through mobile banking;

Loan processing at the counter You need to check the loan contract or contact the local post-loan service center to confirm the cancellation of early repayment appointment, deduction time, repayment amount/time limit, whether there are liquidated damages/handling fees/penalty interest, etc.

< p>If it is a credit card, after the installment is successfully processed, it cannot be canceled or the installment amount and number of installments can be modified. If you need to repay in advance, you can call the credit card customer service 4008205555, enter the ID number and query password---then select 9 to enter manual service processing.

Are there any handling fees for early repayment of credit card installments?

Early repayment of credit card installments is subject to handling fees. Generally, there are two situations:

1. Credit card installments are repaid in advance, but the remaining handling fees are charged as usual. Bank of Communications, China Merchants Bank, China Guangfa Bank and China Construction Bank all charge the handling fees for credit card installments in advance;

2 , Credit card installment early repayment does not need to charge the remaining handling fee, but an additional early repayment handling fee will be charged. The banks that charge credit card installment early repayment handling fees include CITIC Bank, Shanghai Pudong Development Bank and China Minsheng Bank.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , deposit and withdraw cash, etc., an electronic payment card with all or part of the functions? On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

Credit card is a non-cash payment method and a simple credit service. Credit cards are generally plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. They are issued to cardholders by banks or credit card companies based on the user's creditworthiness and financial resources. Cardholders do not need to pay cash when making purchases with a credit card. Make further repayments.

Except for some credit cards that are combined with debit cards, general credit cards are different from debit cards and cash cards in that credit cards will not directly deduct funds from the user's account.

Credit cards are issued by commercial banks to individuals and organizations. They can use them to shop and consume with special organizations and deposit and withdraw cash from banks. They are special carrier cards with consumer credit. They are in the form of a card with the card issuing number printed on the front. Cards with bank name, validity period, number, cardholder name, etc., and a magnetic stripe and signature strip on the back.

A real credit card has the following characteristics: it is not encouraged to deposit cash in advance, consume first and repay later, enjoys an interest-free payment period, can repay in installments independently (with a minimum repayment amount), join VISA, MASTER Wait for international credit card organizations to make it universally applicable.

How to calculate the handling fee for early repayment of installment payment

1. If the handling fee is charged in full, there is no need to pay any more fees, as long as the unpaid principal is repaid;

2. If the handling fee is charged in installments, the remaining unshared handling fee does not need to be collected, but an early repayment liquidated penalty of 3% of the early repayment amount will be charged.

Handling fee: the fee incurred during the service process. The term "Procedure" (English: ServiceCharge) is explained as "the procedure of doing things". For example, go through "borrowing procedures", "transfer procedures", "securities trading procedures" and so on. Therefore, "handling fee" can be explained as follows: a kind of labor compensation collected for handling related matters on behalf of others; or for the client, it is a corresponding remuneration paid for others to handle related matters on their behalf. Such as: securities transaction fees, air ticket agency fees, withholding and payment fees, treasury bond agency fees, etc.

There are two types of handling fees in the banking system:

1. Interests other than loans are collectively called handling fees. For example: interest arising from credit card installment repayment, interest arising from overdue credit card;

2. Cost of production incurred when handling business at the bank.

1 Industrial and Commercial Bank of China: The card application fee is 5 yuan, the annual fee is 10 yuan/year, and the small account management fee is 3 yuan/quarter if it is less than 300 yuan. There is no handling fee for cash withdrawals with debit cards of the same bank in the same city. , inter-bank withdrawals in the same city are 4 yuan/transaction; credit card deposits in different places are free of charge, and cash withdrawals are charged 1% of the amount, with a minimum of 1 yuan/transaction and a maximum of 50 yuan/transaction

2 Agricultural Bank of China: Card application fee 5 yuan, annual fee is 10 yuan/year, small account management fee is 3 yuan/quarter for less than 300 yuan, inter-bank withdrawals in the same city are 2 yuan/transaction (4 yuan in Guangdong Province); credit card cash withdrawals are charged 1% of the amount, minimum RMB 1 Yuan/transaction, other banks will add an inter-bank fee of RMB 2 , inter-bank withdrawals in the same city are 4 yuan/1% of the withdrawal amount

4 Bank of China: Card application fee is 5 yuan, annual fee is 10 yuan/year, no small account management fee is charged, inter-bank withdrawals in the same city are 4 yuan /transaction

5 Bank of Communications: The card application fee is 5 yuan, the annual fee is 10 yuan/year, the small account management fee is 3 yuan/quarter for less than 500 yuan, and the inter-bank withdrawal in the same city is 2 yuan/transaction

6 Postal Savings: The card application fee is 5 yuan, and inter-bank withdrawals in the same city are 4 or 12 yuan per transaction. Most provinces and cities do not charge annual fees or small account management fees

7 China People's Livelihood Bank: Free to apply for a card, no annual fee, no small account management fee (except Shenzhen), intra-city inter-bank withdrawals are free for the first 3 transactions per month, and then 2 yuan/transaction

Pudong Development Credit Card cash installments can be repaid in advance Payment? How to calculate the handling fee?

The Pudong Development Credit Card cash installment is similar to cash withdrawal, but it can enjoy interest-free and can be repaid in installments. It is more cost-effective than cash withdrawal. If you have money in hand, you can repay in advance after the installment. Cardholders will handle this business when they are in urgent need. What I would like to remind everyone here is that early repayment of Pudong Development Credit Card cash installments will involve a handling and handling fee calculation issue. Let’s learn about it together.

1. How to repay the cash installment of Pudong Development Credit Card in advance

Although Pudong Development Credit Card cash installment supports early repayment, it does not mean that you can just use the remaining unpaid principal. You can just pay it back by yourself. Instead, you need to apply to the Shanghai Pudong Development Credit Card Center, and the bank will handle it for you only after it is approved.

That is to say, if you apply for cash installment and want to repay in advance, you need to call the 24-hour customer service hotline 400-820-8788 on the back of the Shanghai Pudong Development Bank credit card to transfer the manual service application. The bank will tell you after the review is passed. How much money do you need to pay back, and the calculated amount is included in the minimum payment amount of the next bill, and you must repay according to the next bill.

Otherwise, if you deposit money into a credit card without applying, the repayment amount exceeding the current period will be regarded as an overpayment, and the remaining principal or handling fee of the installment will not be paid off in advance.

2. Pudong Development Credit Card Cash Installment Early Repayment Handling Fee

Pudong Development Credit Card Cash Installment Handling Fee provides two methods of installment collection and one-time collection. The early repayment procedures are different for different repayment methods. The fees are different:

1. Collect in installments: If the handling fee is collected in installments, then the handling fee for the remaining unpaid installments does not need to be paid, but you have to pay the bank a one-time payment of the early repayment principal. 3% liquidated damages;

2. One-time charge: the handling fee already paid will not be refunded to you.

The above is the relevant introduction to "Can Pudong Development Credit Card Cash Installment be repaid in advance? How to calculate the handling fee?", I hope it will be helpful to everyone. All in all, you need to apply to the credit card center for early repayment of cash by Pudong Development Credit Card in installments. If the remaining handling fee for early repayment is collected in installments, you do not need to pay it again. However, if it is collected in one time, it will not be refunded to you. It is recommended that you handle it according to your own needs. The method of payment of handling fees during installment will determine whether to repay in advance.

How to calculate the Hua Xia Bank credit card installment early repayment handling fee?

The handling fee is calculated based on 0.7% of the transaction amount. The installment payment time can be divided into 3 installments, 6 installments, 12 installments, 21 installments, and the longest can reach 24 installments.

For Hua Xia Bank Credit Card, the repayment amount and repayment bill are different for everyone, because they will adjust the repayment bill date based on each customer's income and salary payment. We can also go to the bank counter in time Make adjustments,

This concludes the introduction on how to calculate the handling fee for early repayment of a credit card and whether there is a handling fee for early repayment of a credit card. Did you find the information you need?