First, the recruitment of credit card installment payment has no interest but only a handling fee.
First of all, if there is no interest when using the credit card of China Merchants Bank for installment payment, there will be no relevant interest after using the installment business, so the cardholders of China Merchants Bank need not worry, but no interest does not mean free. When using credit card for installment, there is no interest, but there is a handling fee. China Merchants Bank pays the handling fee in monthly installments. For example, the monthly fee of 2,000 yuan for 12 is 2000 x 0.66% = 65438.
There are also related installment service fees for specific installments. The specific installment service fee is paid to the bank together with the amount of goods to be repaid in a single installment. The cardholder's handling fee is 1%/ month (for the third installment), 0.6%/ month (for the sixth installment) and 0.5%/ month (for the second installment).
Second, the calculation method of credit card bill installment fee
However, if there is no designated merchant who doesn't go to the credit card mall even after printing the card, then this consumption is bill installment payment, which is applied in three, six and 12 installments, and the corresponding handling fees are 2.6%, 4%, 2%, 7% and 2%. After receiving the first installment, a single payment for several months in a row is enough. In this behavior, the cardholder provides personalized choices for two periods, three periods, six periods, 10, 12, 18 and 24 periods, and the corresponding handling fees for each period are 1.0%, 0.9%, 0.75% and 0 respectively.
Handling fee per installment = total installment amount × handling fee rate per installment. The total installment principal amount is distributed evenly on a monthly basis, and the balance is recorded in the last installment. At the same time, record the installment amount and handling fee of each period.