How to calculate interest for a Shanghai Pudong Development Bank credit card if you spend 100,000 yuan and pay it off in 24 installments

A Shanghai Pudong Development Bank credit card charges a handling fee of 0.76 in 24 installments. If you spend 100,000 yuan, you need to pay 760 per month. Yuan handling fee.

The installment number of Pudong Development Credit Card can be selected from 3 months, 6 months, 12 months, 15 months, 18 months or 24 months; each month is one installment;

The following is the installment interest rate of Pudong Development Credit Card:

1. Pudong Development Credit Card is divided into 3 installments, and the handling rate for each installment is 0.9 of the entire principal;

2. It is divided into 6 installments, each installment The handling rate is 0.78 of the entire principal;

3. It is divided into 12 installments, and the handling rate for each installment is 0.74 of the entire principal;

4. It is divided into 15 installments, and each installment The handling rate is 0.75 of the entire principal;

5. It is divided into 18 installments, and the handling rate for each installment is 0.76 of the entire principal;

6. It is divided into 24 installments, each installment The handling fee is 0.76 of the total principal.

Shanghai Pudong Development Bank (referred to as: Pudong Development Bank or Shanghai Pudong Development Bank) was established with the approval of the People's Bank of China on August 28, 1992, opened on January 9, 1993, and was listed on the Shanghai Stock Exchange in 1999. A national joint-stock commercial bank successfully listed on the stock market (stock trading code: 600000), with its head office in Shanghai.

In 2018, Shanghai Pudong Development Bank ranked 70th among the "Top 2000 Global Companies" by Forbes in the United States; 25th among the "Top 1000 Global Banks" in The Banker in the United Kingdom; and ranked among the "World 500" in the U.S. "Fortune" Strong” No. 227. Shanghai Pudong Development Bank is one of the few joint-stock commercial banks in China that has been rated investment grade or above by three major international rating agencies. In July 2019, the 2019 Fortune Global 500 was released: ranking 216th. On September 1, 2019, the list of China's Top 500 Service Enterprises in 2019 was released, with Shanghai Pudong Development Bank Co., Ltd. ranked 29th. In March 2020, it was selected as the 134th among the top 500 global brands in 2020.

The total assets of Shanghai Pudong Development Bank increased from 8.75 billion yuan when it was first established in 1993 to 6,091.759 billion yuan at the end of June 2018, an increase of 696 times; operating income increased from 337 million yuan in late 1993 when the bank was founded. It increased to 168.6 billion yuan at the end of 2017, an increase of 500 times; net profit increased from 130 million yuan in 1993 to 54.24 billion yuan in 2017, an increase of 416 times, with an average annual compound growth rate of nearly 30.

For the whole year of 2018, Shanghai Pudong Development Bank achieved operating income (group caliber) of 171.542 billion yuan, a year-on-year increase of 2.923 billion yuan, an increase of 1.73%; net profit attributable to shareholders of the parent company was 55.914 billion yuan, a year-on-year increase of 1.656% billion, an increase of 3.05%. As of the end of 2018, the total assets of Shanghai Pudong Development Bank Group were 6.289606 billion yuan, an increase of 152.366 billion yuan from the beginning of the year, an increase of 2.48%. The capital adequacy ratio was 13.67, an increase of 1.65 percentage points from the beginning of the year. On June 26, 2019, 8 banks including Shanghai Pudong Development Bank were among the first to launch an online enterprise information verification system.

A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

How much is the handling fee for swiping 100,000 on a credit card?

Starting from September 6, new standards will be implemented for bank card swiping fees. The new handling fee cancels industry classification and reduces the rate level as a whole. However, in order to prevent cash out, the credit card swiping fee has been capped. According to the new rate, if you use a credit card to swipe 100,000 yuan, the handling fee will be more than 500 yuan. The merchant may ask the cardholder to pay the handling fee, or ask the cardholder to use a debit card instead.

_It is understood that the new regulations on bank card swiping fee rates to be implemented have two important changes, namely the cancellation of industry classification and the implementation of differential pricing for debit cards and credit cards.

_Currently, domestic card swiping rates are linked to industry classifications. The card swiping rate for dining and entertainment categories is the highest at 1.25; for general merchants such as department stores, it is 0.78; for supermarkets, gas stations, etc., it is 0.38; for hospitals, education, etc. The public welfare category is zero-rated. After the merchant industry classification pricing is cancelled, the overall card payment fee level will be significantly reduced. According to the new standards, the service fee rate level of the card-issuing bank is reduced to no more than 0.35 of the transaction amount for debit card transactions and no more than 0.45 for credit card transactions. In addition, the network service fee rate charged by the bank card clearing agency is reduced to no more than 0.065 of the transaction amount, and the card issuer and acquirer each bear 50. Earlier, relevant persons in charge of the Central Bank and the National Development and Reform Commission stated in response to reporters’ questions that from a category perspective, the credit card processing fee expenditure of catering enterprises can be reduced by 53 to 63 yuan, and that for merchants in department stores and other industries can be reduced by 23 to 39 yuan. After the implementation of the new policy, public welfare cards such as hospitals and education will still have zero rate.

_Specific to the card type, debit cards are still capped, and the handling fee for a single transaction shall not exceed 13 yuan. In order to prevent malicious cash-out, there is no cap on credit card swiping fees. Industry insiders in Banyan said that the overall reduction in rates is good for merchants, but the removal of the cap on credit card swiping fees may lead to the issue of who pays the fees. Although the rates for credit card transactions were high before, there was a cap on a single transaction. If there was no cap, if a cardholder spent 100,000 yuan using a credit card, a single transaction fee would be more than 500 yuan.

_In the past, the card processing fee was paid by the merchant, and the card issuer, acquirer and UnionPay shared it in a ratio of 7:2:1. After the implementation of the new rates, the charging method will also be adjusted accordingly. The card issuer will charge the service fee to the acquirer, while the UnionPay network service fee will be shared by the card issuer and the acquirer, and the acquirer will negotiate with the merchant to charge it.

How much is the interest rate for a credit card loan of RMB 100,000 per year?

Industrial and Commercial Bank of China, the credit card installment interest rate is 3.6 for 12 periods. The calculated interest is as follows:

Industrial and Commercial Bank of China Credit Card RMB 100,000 Yuan is repaid in 12 installments, the handling fee is 3.6, each repayment is 1,000,003.6 = 3,600 yuan, and the total interest is 3,600 yuan. The interest per period is 3600/12=300 yuan.

Interest, as the use price of funds, plays a very important role in the operation of market interest economy, mainly in the following aspects:

The function of influencing corporate behavior

As the capital occupation cost of enterprises, interest has directly affected the level of economic benefits of enterprises. In order to reduce costs and improve efficiency, enterprises must do everything possible to reduce the amount of funds occupied, and at the same time conduct cost comparisons of various fund-raising methods during the financing process. If enterprises in the whole society regard saving interest expenses as a common behavior pattern, then the efficiency of economic growth will definitely be improved.

Function that affects residents’ asset selection behavior

Under the conditions of the continuous improvement of the actual income level of Chinese residents and the increasing savings ratio, asset selection behavior has emerged, and the increase in financial instruments has Residents' asset selection behavior provides an objective basis, and interest income is the main incentive for residents' asset selection behavior. The residential sector attaches great importance to interest income and spontaneously generates asset selection behavior, which has an impact that cannot be ignored, both on macroeconomic regulation and on the reconstruction of micro-foundation.

Judging from the current situation in China, the high savings rate has become a major feature of the Chinese economy, which provides a solid financial foundation for rapid economic growth, and residents have made various assets under the inducement of interest income. Choice behavior also contributes to the realization of various macro-controls.

The function of influencing government behavior

Since interest income is closely related to the economic interests of the deficit and surplus sectors of the whole society, the government can also use it as an important economic lever to influence the economy. Run implementation adjustments. For example: if the central bank takes measures to lower interest rates, more money will flow to the capital market; when it raises interest rates, money will flow out of the capital market.

If the government uses credit means to raise funds, it can issue government bonds at a higher interest rate than bank deposits of the same term, absorbing private monetary funds into the government's hands for use in various fiscal expenditures.

The amount of interest depends on three factors: principal, deposit period and interest rate level.

The calculation formula for interest is: Interest = Principal X Interest Rate From now on, personal income tax on savings deposit interest will be temporarily exempted. Therefore, the interest on savings deposits is currently exempt from interest tax.

This ends the introduction on how to calculate a 100,000 credit card and how to apply for a 100,000 credit card. Have you found the information you need?