According to the announcement of the Credit Card Center of Industrial Bank, starting from July 30, the bank will adjust the installment fee collection standards for credit card consumption installment, bill installment and cash installment payment business. Our installment business has six stages, namely, 3, 6, 12, 18, 24 and 36. The corresponding handling fee rates are: 0.85% for the 3rd installment, 0.75% for the 6th-24th installment and 0.72% for the 36th installment. Compared with before adjustment, except for the 36-phase rate, the 3-12 rate increased by 0.05 percentage points; 18-24 increased by 0.03 percentage points.
Huaxia Bank has also adjusted the fee rates for flexible installment, bill installment and automatic installment of credit cards since July 1 day, and the fee rate for each installment has been increased by 0.05-0. 13 percentage points. In addition, China Everbright Bank also raised the credit card installment fee in March this year, while China Construction Bank adjusted the charging method and standard of bill installment service fee as early as last year.
The fees of different banks for installment procedures vary greatly. Take10,000 RMB divided into 12 installments as an example. The nominal annual interest rate of different banks is between 7.2% and 9.0%, and the maximum difference in installment fees is 180 yuan. Among them, the credit card installment rates of the four major banks of workers, peasants and China Construction Postal Savings Office are relatively low, while the rates of national joint-stock commercial banks such as Xingye, CITIC, Huaxia and Pudong Development Bank are relatively high.