Yes.

Equal principal and interest is a repayment method for home loans, but equal principal and interest is a popular repayment method for consumer loans. It is actually the repayment method of credit card installments. Generally speaking, when equal amounts of principal and interest are used for financial management, the income will decrease with the principal, and even if the principal and interest are equal to the last month, the interest will be calculated based on the investment amount.

Essentially, the proportion of principal increases month by month, the proportion of interest decreases month by month, and the monthly repayment amount remains unchanged. That is, in the distribution ratio of monthly principal and interest, the first half During a period of time, the proportion of interest repaid is large and the proportion of principal is small. After half of the repayment period, it gradually changes to a large proportion of principal and a small proportion of interest.

Extended information:

Notes:

1. There is a handling fee for bill installments: the more installments, the lower the installment interest rate, and the installment handling fees vary. Banks are all different. Whether the bill contains a bill that has been issued or a bill that has not been issued, and when applying for bill installment, the installment fee will be calculated based on the installment interest rate. Banks encourage cardholders to make installment payments. If there is no financial pressure, it is best to repay the loan in full.

2. The early repayment fee will still be collected: Most banks stipulate that once the credit card bill is installmentd, if you pay the installment fee on a monthly basis, even if you repay the loan in advance, you still need to pay the remaining balance Pay the monthly handling fee in full.

3. Bill installments do not affect personal credit: Bill installments do not affect personal credit. Only failure to repay or missing the last payment date will affect personal credit.

Baidu Encyclopedia - Credit Card Bill Installment

Baidu Encyclopedia - Equal Payment of Principal and Interest