Handling fee per installment = total installment amount × handling fee rate per installment. The total installment principal is amortized monthly, and the balance is included in the last installment. At the same time, the installment amount and the handling fee of each period are recorded.
10000 yuan, the handling fee for the sixth phase = 10000×0.75%×6 = 450 yuan.
10000 yuan, installment fee12 =10000× 0.66 %×12 = 792 yuan.
China Merchants Bank provides cardholders with four installment options: 2nd installment, 3rd installment, 6th installment, 10 installment, 12 installment, 18 installment and 24th installment, and the corresponding handling fee rates for each installment are 1.0%, 0.9%, 0.75% and 0.7 respectively. At present, the application for non-single transaction only supports 2, 3, 6, 10 and 12. The second phase can only be applied through China Merchants Bank, Mobile Banking and Pocket Life Channel.
Transaction installment: the application amount is not less than 500 yuan RMB, and the total amount of application installment is equal to the sum of the original transaction amount.
Bill installment: the maximum application amount shall not exceed 95% of the total amount of new credit card consumption in the current period.
Application time:
Transaction installment: apply for installment between the transaction date and two days before the issue date of the corresponding bill.
Bill installment: apply for installment from the next day of the current billing date to the due repayment date.