If you withdraw cash overdraft, the monthly interest will be calculated at 15‰. If it exceeds 1 month, a late payment penalty of 5% of the principal and interest will be added (with a cap of 500 yuan)

If you use the card overdraft, the credit card will have a certain The interest-free period is different for each bank. If the interest-free period is overdue, the interest-free period will be canceled and the interest will be charged according to the standard for overdraft withdrawals exceeding one month (monthly interest rate 15), and a late payment penalty of 5 principal and interest will be added

Overdraft The fees incurred after withdrawing 10,000 yuan for more than one month are:

Interest = principal * interest rate * overdraft time = 10,000 * 15‰ * 1 = 150 (yuan)

Late payment fee = Principal and interest * 5 = (10000 150) * 5 = 10150 * 5 = 507.5 (yuan), take the cap of 500 yuan.

Total cost = interest late payment fee = 150 500 = 650 (yuan)

Total expense/principal=650/10000=65‰, that is, the monthly interest rate is 6 cents and 5 percent.

The principal of the second month’s interest calculation = the original principal. Total expense = 10000 650=10650( Yuan)

If it is over 2 months, use 10,650 yuan as the principal, and calculate interest according to this method. After one year, the cost will be quite high.

This is what the poster calls interest. If you don’t understand the mysteries of this, you will often step on this landmine. Only practice is the master. What can you do?