Credit card installment is very popular among the public because of its simple operation. Because of this advantage, many citizens are not particularly concerned about the interest rate of credit card installment. However, some sophisticated people have the final say and don't know it themselves. They were shocked when they calculated. The actual annualized rate of most banks is above 9%.

On March 3, 20265438, the central bank issued an announcement, requiring all institutions engaged in loan business to show the annualized rate to borrowers in an obvious way when marketing through websites, mobile phone applications, posters and other channels, and to indicate it when signing loan contracts. This makes the original credit card installment rate "she still has a face hidden behind her guitar that we can't see" emerge in front of everyone. The reporter found that the annualized rate of credit card installment fees announced by banks mostly exceeded 9%, and some were as high as 15%.

Faced with such a high rate, will consumers still be willing to handle it? In this regard, banks have also launched various preferential activities to attract consumers. Consumers can deal with it rationally according to their needs.

The annualized fee rate of credit card installment mostly exceeds 9%

Recently, it has been found that many banks will clearly indicate the approximate annualized handling fee rate when handling installment business in mobile banking. In fact, the calculation index of approximate annualized service fee rate usually exists in the contracts handled by related businesses. It helps financial consumers to better understand their products and protect their right to know.

Taking a joint-stock bank as an example, the installment rates for the third, sixth, ninth, 12 and twenty-fourth periods are 0.82%, 0.7%, 0.67%, 0.67% and 0.7% respectively, and the annualized conversion fees are 14.7% and1respectively. In a big bank in a certain country, the annualized service fees corresponding to the above periods are 9.34%, 8.59%, 8.98%, 9. 18% and 9.92% respectively.

Compared with the original, consumers have a better understanding of their responsibilities and rights. Many banks will give the amount to be repaid in each period, including the handling fee, the corresponding handling fee rate and the corresponding annualized rate when consumers handle business.

Why is the annualized rate of credit card installment so high?

Why is the annualized conversion rate so much higher than the total installment rate? The reporter learned that the approximate converted annualized fee rate is the annualized internal rate of return calculated according to the cardholder's cash flow, which is for the cardholder's reference when evaluating the cost of capital, not the ratio of the fee paid by the consumer to the transaction amount. Due to the differences in transaction amount, transaction time, repayment time and early repayment, the actual value may be different from the reference value. The actual handling fee that the cardholder needs to pay is still subject to the handling fee rate of each period (month).

"The installment fee stipulated by the bank is calculated according to the user's first installment amount multiplied by a certain rate, not according to the monthly remaining loan amount. For example, 65,438+2,000 yuan is divided into 12 installments, and the handling fee of 0.6% is calculated for each installment, and the handling fee of 72 yuan is paid for each installment. In fact, the cardholder does not always occupy the loan amount of10.2 million yuan, but decreases month by month. In the last month, he actually only borrowed 1 0,000 yuan from the bank, but the handling fee was still calculated as10.2 million yuan. If he owes 1 0,000 yuan, he will also pay the 72 yuan handling fee. " A senior staff member of the credit card department of a state-owned bank in our city explained.

It is worth mentioning that, generally speaking, the installment fee can be paid monthly or in one lump sum. However, in the case of enjoying preferential rates, some banks will require cash installment bills to charge all fees at one time. In addition, if consumers prepay, many banks will still charge fees for the remaining installments, and some banks will also charge liquidated damages for prepayment.

Many banks discount the installment payment business.

Faced with the annualized rate of over 10%, many consumers are a little discouraged from staging business. In this regard, a number of banks have introduced phased business concessions to attract consumers.

From April to June, China Construction Bank launched the "installment discount" activity for credit card consumers. During the activity, the cardholder successfully handles the bill installment and enjoys a 30% discount on the handling fee rate.

"I found that 12, 18 and 24 have a 50% discount on the installment service fee. If I repay the loan in 24 installments, I only need to repay 227.5438+0 yuan each installment, including the discount fee 18. If it is divided into six periods, not only is each period 876.3 1 yuan, but also the handling fee is 40. 13 yuan, and the annualized rate of handling fee is 16.27%. " A credit card holder told the reporter that he had previously drawn interest-free installment coupons from the bank to subsidize the installment fee in 500 yuan.

In addition to preferential rates, some banks have also launched gift-giving activities in installments. As long as customers handle the installment business, they can participate in the lucky draw or directly get rewards such as physical objects, points and red envelopes.