1. How to calculate the interest of China Merchants Bank's credit card loan
Generally, China Merchants Bank's credit card interest can be calculated in the following three ways:
1. Cash withdrawal interest: if you withdraw money, you will generate daily interest of .5% of the cash withdrawal amount, and compound interest on a monthly basis until it is paid off.
2. Minimum repayment interest: for the remaining debt after the minimum repayment, a daily interest of five ten thousandths will be charged.
3. Credit card consumption interest: China Merchants Bank will not charge interest as long as the repayment is normal after credit card consumption, but if the repayment is overdue, the interest will be calculated from the time when the consumption is recorded, and there will be a late fee.
minimum repayment amount = 1% advance cash principal, 1% non-advance cash transaction principal, 1% expense, 1% interest, 1% excess consumption, 1% minimum repayment amount in the previous period and 1% installment amount. As long as you repay the bill according to the minimum amount before the due repayment date, there will be no late payment fee and your personal credit will not be affected. Please rest assured. However, it will generate cyclic interest. Interest will be charged from the bookkeeping date (usually the day after consumption) for all consumption in the current period, with a daily interest rate of five ten thousandths until you pay it off in full.
if you can't pay back all the money, you need to adopt the method of minimum repayment.
1. The minimum repayment amount is 1%
2. Cyclic interest: interest will be calculated at the rate of five ten thousandths per day from the date of credit card swiping to the billing date.
For example, if the billing date of 1 yuan is swiped on the 1st of this month and the billing date is swiped on the 22nd, then the minimum repayment amount of this month is only 1% of the swiped amount, that is, 1 yuan, and the repayment will be made before the 1th of next month. Assuming that you don't swipe your card, by the billing date on the 22nd of next month, the cyclic interest will be added to the bill, with the amount of (321).5%1=25.5 yuan, and the bill amount will become 925.5 yuan, with the minimum repayment amount of 925.5=115.5 yuan.
9 yuan is 1% of 9, and 25.5 yuan is the revolving interest. If the credit card of China Merchants Bank fails to repay the bill in full on schedule, interest will be charged in full according to the consumption amount from the date of swiping the card, with the interest rate of .5% per day and about 18% for the whole year.
second, how to calculate the interest of China Merchants Bank's credit card loan
If it is not repaid in full, the interest of silver%).
3,33.8 yuan ( yuan, which should be repaid in full, has exceeded the minimum repayment amount, and there will be no late payment fee or bad credit record, but interest will still be calculated at .5% per day for the unpaid part. If the due repayment date is May 2th and 29 yuan in April.
the interest generated in the first month is: 2988×.5%×22 days =32.87 yuan, and 5×.5%×18 days =.45 yuan. The date to the repayment date calculated here is larger than my own. Also went to 1 yuan, leaving 33832.87.45-1 yuan not returned;
the interest generated in the second month is: 271.32×.5%×3 days (calculated in natural months) =31.7 yuan, and then it is returned to 1 yuan, leaving 271.3231.7-1=112.39 yuan, which is not very large, and the interest is not particularly high.
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the amount of interest and the level of interest rate.
calculation rate of interest x deposit period
according to No.826 [28] of China, personal income tax is derived from the interest of savings deposits, so the interest of savings deposits is temporarily exempted from interest tax at present.
Factors that cause interest:
1. Delayed consumption
When the lender lends money, it is equivalent to delaying the consumption of consumer goods. According to time, there are more goods than future goods, so there will be positive profits in the free market
2. Expected inflation < P > Inflation will occur in most economies, representing a certain amount of money, and fewer goods can be purchased in the future than now. Therefore, the borrower needs to compensate the lender for the losses during this period.
3. Alternative investment
Lenders have the choice to pay the cost of money, and lenders lend money, and other possible returns. Borrowers need to compete with other investments for this fund.
4. Investment risk
The borrower has money beyond the risk of bankruptcy, absconding or non-repayment of debts at any time, so as to ensure that he can still get compensation under these circumstances.
5. Liquidity preference
People prefer that their funds or resources can be traded immediately at any time, instead of taking time or money to get them back. interest rate