Instalment repayment is more cost-effective, no interest is charged, and interest is charged on the minimum repayment.

Interest rates for installment payments of China Merchants Bank:

1. Installment fees for China Merchants Bank credit cards: 1.0% for 2nd period, 0.9% for 3rd period, 0.75% for 6th period, 0.7% for 10th period, 0.66% for 12 periods, 0.68% for 18 periods, and 0.68% for 24 periods (charged every month);

2. Credit cards generally have a three-day grace period after the repayment date, and repayment within the grace period is deemed to be the same. Repay the loan on time;

1. If you pay it in full, no fees will be incurred;

2. If you pay the minimum repayment amount, the daily interest will be calculated at 0.05%;

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3. If the repayment exceeds the grace period or the repayment amount is less than the minimum repayment amount stipulated by the bank, it will be considered overdue. The daily interest will be 0.05%. The interest will be calculated from the accounting date. In addition, the minimum repayment amount will be calculated. A late payment fee of 5% of the unpaid portion will be charged on a monthly basis.