Do you know about Everbright Credit Card Bill Installment? Many friends don’t know much about the functions of Everbright Credit Card when using Everbright Credit Card, so I would like to popularize the content of Everbright Credit Card Bill Installment. Friends who are also interested in knowing more can read on.

What is Everbright Credit Card Bill Installment?

Everbright credit card bill installment means that customers apply for installment based on the consumption amount shown on the current bill (i.e. the consumption amount that has been billed for the current period). The installment amount must be greater than RMB 500 (inclusive).

For example, regarding the bill amount in installments, the customer's May bill shows an outstanding balance of RMB 10,000, and the bill details are all eligible for installment transactions. Then, customers can apply for IN loan bill installment business before the due date of repayment. The applied installment amount must be greater than (equal to) 500 yuan and not exceed 10,000 yuan.

How much is the handling fee for Everbright Credit Card Bill Installment?

China Everbright Bank offers cardholders the choice of 3, 6, 9 and 12 installments, with corresponding benchmark handling rates of 2.65, 4.65, 6.45 and 8.85 respectively. .

Note: During the actual implementation process, Everbright Bank will fluctuate up or down based on this rate based on your card use and the bank's policies, and the fluctuation range will not exceed 40.

In addition, China Everbright Bank’s credit card installments are available in installments of 3, 6, 9, and 12. The longer the installment period, the more expensive the handling fee will be. You should also pay attention to this.

Taking 12 installments as an example, Everbright’s installment fee is equivalent to an annual interest rate of 16.34.

Here, I will take 12 installments as an example to tell you what the annual interest rate from the installment fee is. How many. The handling fee for 12 periods is ***8.85. According to the interest rate calculation method I introduced before (search for "calculation method of actual annual interest rate for bank credit card installment repayment" on the official website), the actual annual interest rate = 24 * handling rate per period * number of periods / (1 period), finally the actual annual interest rate can be obtained as 16.34.

Finally, overdue repayment will result in late payment fees and interest, and the late payment fees will also turn into principal and continue to be calculated with interest, so I remind everyone to pay attention to timely repayment.