The central bank stipulates that the credit card penalty is agreed by the bank and the cardholder, that is, each bank independently stipulates the credit card penalty; However, the penalty interest of the credit card is changed to a one-time charge, and the monthly compound interest is no longer required.

It is understood that the charging standard of credit card liquidated damages of CITIC Bank is 5% of the unpaid part of the minimum repayment amount, with the lowest 20 yuan.

For example, suppose Mr. Li's billing date is the 3rd of each month, and the final repayment date is the 2nd1of each month.

In the monthly bill of Mr. Zhang 10, the bill amount of this period is 1000 yuan, and the minimum repayment amount is 100 yuan. Mr. Zhang only repaid 90 yuan on June 5438+1October 2 1, so he had to collect liquidated damages. A total of liquidated damages from 20 yuan will be charged. The specific calculation method is as follows:

(100-90)*5%=0.5 yuan. If the minimum charge is RMB 10, 20 yuan will be generated in the bill of RMB165438+1October 3rd.