Cash installment is a financial scheme that converts credit line into cash withdrawal line and repays it in installments. General cash installments are 3 months, 6 months, 65,438+02 months, 65,438+08 months and 24 months. Interest is not charged for cash installment, but a handling fee of 0.75%-0.8% of the installment amount is charged for each installment according to the number of installments. In general, the longer the number of installments, the lower the handling fee rate. If the number of installments exceeds 12, the bank will generally give a 20% discount on the handling fee.

Take the cash installment of 65,438+00,000 yuan as an example, and repay it in three installments, with a handling fee rate of 0.8% and monthly interest of 80 yuan. The total interest is 240 yuan, which is usually paid in full at the first repayment, that is, 3,574 yuan in the first month, 3,333 yuan in the second and third months respectively.

Cash withdrawal: Credit cards support cash withdrawal, and the cash withdrawal amount is generally 50% of the credit limit. Take withdrawal 10000 yuan as an example, the daily interest rate is 0.5 ‰ of the withdrawal amount, and the withdrawal amount has no interest-free period (daily interest) and no minimum repayment amount (full repayment at maturity), that is, withdrawal 10000 yuan, which will generate 150 yuan after being used for one month.

In contrast, the interest of cash installment is much lower than that of cash withdrawal.

In addition, cash installment is undoubtedly a great weapon for many friends' capital turnover. Reasonable use of credit cards will greatly improve our quality of life, but we must use credit cards in moderation and live within our means.