Extended information:
The grace period repayment method is a repayment method derived from the repayment method in average capital. That is, within the repayment period (monthly/quarterly/annual) agreed in the loan contract (except for the last installment), if the borrower repays the repayment amount of each installment within the grace period, it will be regarded as normal repayment, and no penalty interest will be charged during the grace period; If the repayment exceeds the grace period, the penalty interest will be charged according to the actual days of default (including the grace period days).
repayment of equal principal means that the lender distributes the principal within each month and pays off the interest from the previous trading day to the repayment date. Compared with equal principal and interest, this repayment method has a lower total interest expense, but the principal and interest paid in the early stage are more, and the repayment burden decreases month by month.
average capital repayment method is a very simple and practical repayment method. The principle of the basic algorithm is to repay the loan principal in equal amount on schedule during the repayment period, and at the same time pay off the interest generated by the unpaid principal in the current period. The methods can be monthly repayment and quarterly repayment. Due to the requirement of bank interest settlement practice, quarterly repayment is generally adopted (such as Bank of China).
bank regulations: credit card repayment requires customers to make repayment according to the due repayment date listed in the bill. Considering the transfer time difference and other reasons, if the repayment funds can be guaranteed to arrive before 16: Beijing time on the third day after the due repayment date, it will still be regarded as normal repayment, and there will be no overdue record. In order to avoid the influence of late repayment on personal credit, it is recommended to arrange credit card repayment in advance.
if the debt has not been paid off after the grace period for repayment, it is overdue repayment, and the related consumption transactions will be charged with interest from the date when the consumption is recorded, with compound interest on a monthly basis. If the customer's repayment amount is less than the minimum repayment amount, a certain proportion of the unpaid part of the minimum repayment amount will be paid as repayment penalty. If the customer fails to return the minimum repayment amount of the credit card on time and in full, the bank will submit it to the financial information database of the People's Bank of China as required.
Credit cards can be returned a few days late, but some high-level or special credit cards don't have this service, so it is best for everyone to pay off the bill before the specified repayment date. If it is necessary to return it a few days late, it is recommended to contact the bank in advance to confirm whether there is a grace period for repayment.