The interest rate of credit card installment payment may be different from bank to bank. Take four major behaviors as examples:
I. Industrial and Commercial Bank of China
The interest of ICBC's credit card installment payment is 0.9% for the third installment, 0.8% for the sixth installment, 2.7% for the ninth installment, 3.6% for the 12 installment, 5.4% for the 18 installment and 7.2% for the 24th installment.
Second, China Construction Bank.
If CCB pays by installment, it can be divided into three installments, six installments, 12 installment, 18 installment and 24 installments. Among them, except for the interest of the third installment, the interest of the sixth installment, 12 installment, 18 installment and 24 installment is calculated at 0.6% per installment.
Three. agricultural bank
If the credit card of Agricultural Bank of China is paid in installments, it can be divided into 3 installments, 6 installments, 9 installments, 12 installments and 24 installments. No matter how many credit card installments are made by ABC, the interest is calculated at 0.6% per installment.
4. Bank of China
China Bank's credit card installment payment can be divided into three installments, six installments, nine installments, 12 installment, 18 installment and 24 installment, in which the interest of the third installment is calculated at 1.95%, the interest of the sixth installment is calculated at 3.6%, and the interest of the ninth installment is calculated at1.
There are two ways to repay a loan: equal principal and interest and average capital.
1. Matching principal and interest Matching principal and interest Compared with the average capital, the total repayment interest is more, but the monthly repayment amount is the same, which can reduce the repayment pressure in the early stage. The interest of this loan interest-bearing method is calculated on the basis of the total principal. Although a part of the principal was paid back later, the calculation of interest did not decrease with the decrease of the principal. The calculation formula is as follows: [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months] ÷ repayment months [( 1+ monthly interest rate).
2. Although the repayment method in the average capital, the average capital has to pay more money in the early stage, and the overall interest paid is less than the equal principal and interest. Take mortgage as an example. If it is a house, it needs a loan of 200,000 yuan, which will be repaid in 20 years. If the calculation method of average capital is adopted, the interest will be reduced by about 654.38+500,000 yuan. The repayment method of average capital is to calculate interest according to your actual reduced principal, and the monthly repayment amount is reduced, and the principal in the monthly repayment remains unchanged. The specific calculation formula is as follows: monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
How to calculate credit card installment interest How to calculate credit card installment interest
1. The calculation formula of total interest for credit card installment repayment is: interest = installment amount, installment fee and installment number. Suppose you spend 3,000 yuan to apply for repayment in three installments, and the installment fee is 1%, so the total installment interest is 3,0001%3 = 90 yuan.
2. Usually, the more credit card installments, the more interest banks charge. Some banks, such as China Merchants Bank and Bank of China, will charge an installment fee in the first period, and then only need to repay the principal.
How to calculate the installment interest of credit card?
Generally speaking, there is only a handling fee for credit card installment and no interest.
Moreover, different banks have different regulations on credit card installment fees, and different installment numbers have different handling rates. For example, the installment fee of China Merchants Bank's credit card is as follows: 65438+0.0% for the 2nd installment, 0.9% for the 3rd installment, 0.75% for the 6th installment, 0.7% for the 10 installment, 0.66% for the 12 installment and 0.68% for the 24th installment.
If you withdraw cash by credit card, you have to charge interest. In addition, if only the minimum repayment amount is paid, the bank will charge interest. The specific charging method is that the daily interest is calculated at 0.05%. Moreover, if the repayment exceeds the grace period or the repayment amount is less than the minimum repayment amount stipulated by the bank, it will be regarded as overdue and the daily interest will be 0.05%.
Compared with ordinary bank savings cards, the most convenient way to use credit cards is for ordinary consumption, and there is no cash in the cards. In many cases, it is enough to return the consumption amount on time.
You can spend without deposit overdraft, and enjoy an interest-free period of 20-56 days to repay on time without any charge (most banks will charge 0.5% interest on the day of cash withdrawal, and there will be a 2% handling fee, but ICBC will only charge interest).
It is not only safe and convenient to swipe your card when shopping, but also a bonus gift.
Special merchants who hold cards in banks can enjoy preferential treatment.
Accumulate personal credit, add credit records to credit files, and benefit for life.
Access to the whole country is barrier-free, and you can withdraw money or spend money by credit card on ATM and POS machines with UnionPay logo; (Note: Credit cards are only suitable for credit card spending, and it is best not to withdraw cash, which is very expensive and uneconomical).
Credit card spending, some credit cards get existing points, and various discounts and lottery activities throughout the year, so that you can always have surprises as long as you use the card; Most credit cards pay online without points, but online payment is very convenient and fast.
Mail the statement free of charge every month, so that you can grasp every consumption expenditure transparently; (Now advocating environmental protection, you can cancel the paper statement and change it to electronic statement).
Unique supplementary card function, suitable for husband and wife to jointly manage money or master children's financial expenses.
The free choice of one card and two currencies is popular all over the world, and consumption abroad can repay in RMB.
400 telephone or 5-digit short number prefixed with "9" provides 24-hour service, and the report of loss takes effect immediately, with zero risk of card loss.
Validity period: It is known that the validity period of domestic credit cards is generally three to five years.
How to calculate the installment interest of credit card?
The longest credit card installment is 24 months, which is two years. In bank credit card business, interest is calculated according to the total principal amount for installment repayment and minimum repayment. If you pay in installments, no matter how many months you have paid back, the interest is calculated according to the total principal.
Credit card installment payment refers to the process that when the cardholder uses the credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank deducts the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder repays according to the monthly recorded amount.
In the early days of credit card installment business, banks often advertised under the banner of "interest-free", and many citizens were really fooled. In fact, interest-free is not free, just a different name.
Generally speaking, the handling fee of credit card installment 1 year is lower than the annual cash withdrawal interest 18%, and higher than the bank commercial loan interest 1 year 5.3 1%. It is worth mentioning that in recent years, the loan interest rate of commercial banks has been lowered many times, but the standard of credit card installment fee and cash withdrawal interest has rarely changed. Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.
If you borrow money, it is convenient and easy to borrow money from the platform. Du Xiaoman's credit service products have money to spend, providing users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman APP (official measurement below). The daily interest rate of money consumption loan is as low as 0.02%, the annualized interest rate is as low as 7.2%, and the maximum loan is 200,000! It has the characteristics of simple application, low interest rate, fast loan, flexible loan repayment, transparent interest and expenses, and strong security.
References:
Du Xiaoman has money to spend on official website.
I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements.
1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide installment loans to students at school. If you are a student at school, please give up the application.
Information requirements: You need to provide your second-generation ID card and your debit card during the application process.
Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards.
How to calculate the interest of credit card installment repayment?
There is no interest after credit card installment, only installment fee is charged, and credit card installment fee = installment rate of installment balance. Credit card installment fee rate is generally related to the number of installments. The longer the number of installments, the higher the rate. The installment fee rates of different banks are different, so it is best to know clearly from the issuing bank before applying for credit card installment.
Annualized interest rate, or "annualized rate of return", is the interest rate discounted to the whole year through the inherent rate of return of products. The annualized interest rate is the theoretical rate of return, not the actual rate of return. Unlike the annual rate of return, the annual rate of return is the ratio of the actual rate of return of the fund to an investment within one year. The annualized rate of return refers to the annual rate of return in the past 7 days converted into net income per 10000 fund units.
The calculation formula of annualized rate of return is:
Annualized rate of return = [(return on investment ÷ principal) ÷ investment days] × 365×100%;
Annualized income = principal × annualized rate of return;
Actual income = principal × annualized rate of return × investment days ÷365
: 1. What is a credit card?
Credit card, also known as credit card, is a credit certificate issued by commercial banks or credit card companies to eligible consumers. The form is a card with name, expiration date, number and cardholder's name printed on the front and magnetic stripe and signature strip printed on the back. Consumers with credit cards can shop or spend in specialized commercial service departments, and then banks will settle accounts with merchants and cardholders. Cardholders can overdraw within a certain amount.
If you borrow money, it is convenient and easy to borrow money from the platform. Du Xiaoman's credit service products have money to spend, providing users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman APP (official measurement below). The daily interest rate of money consumption loan is as low as 0.02%, the annualized interest rate is as low as 7.2%, and the maximum loan is 200,000! It has the characteristics of simple application, low interest rate, fast loan, flexible loan repayment, transparent interest and expenses, and strong security.
References:
Du Xiaoman has money to spend on official website.
I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements.
1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide installment loans to students at school. If you are a student at school, please give up the application.
Information requirements: You need to provide your second-generation ID card and your debit card during the application process.
Note: the application only supports debit cards, and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and cannot be processed with temporary id card, expired ID cards or first-generation ID cards.
How to calculate the interest of credit card installment repayment
Credit card prepayment by installment, if it is a one-time installment interest, then prepayment will not refund the interest already paid. The installment fee is paid on a monthly basis, and the interest on early repayment is calculated from the date when the principal and interest of the bank are paid off. In addition, users may have to pay a part of liquidated damages.
Users who settle the credit card installment in advance may be asked by the bank to pay the installment fee of the remaining principal in one lump sum.
Credit card cash installment interest: there are 3 to 24 installments of cash installment business, and the benchmark handling fee rate for each installment is as follows. 0.95% in the third phase, 0.80% in the sixth phase, 0.75% in the 10 phase, 0.75% in the 12 phase, 0.75% in the 18 phase and 0.75% in the 24th phase.
Extended data:
On this issue, in fact, the installment interest of different banks is different. Therefore, you'd better check with the issuing bank before applying for credit card installment. The general calculation is as follows:
1. Credit card installment interest: If the minimum repayment amount is selected for repayment, most banks will pay interest in full, charging five ten thousandths (0.05%) of interest every day from the date when the consumption is recorded, and compound interest will be calculated monthly.
Therefore, it is not necessarily cost-effective to prepay credit cards in installments. When users pay in advance, it's best to do it themselves.
After applying for credit card installment repayment, you can repay in advance, but you can only pay off all the money in advance at one time. Paying off part of the money in advance is not supported. If you want to pay off in advance after installment, you need to contact the bank to terminate the credit card installment. After the installment is terminated, the remaining installment amount will be recorded in one lump sum on the next billing date, and then paid off in full before the repayment date.
Most banks have such regulations on credit card installment: even if repayment is made in advance, a handling fee will be charged.
Bank of China
The installment fee will be charged once in the first installment and will not be refunded once charged.
China construction bank
The handling fee is charged in installments. The cardholder has successfully processed the bill installment. If he applies for prepayment, he must pay off all the remaining principal and handling fee in one lump sum, and the installment handling fee collected will not be refunded.
China Merchants Bank
The handling fee is charged in installments. If you need to cancel the installment or prepay, you need to apply for installment settlement. Unpaid installment amount and handling fee must be paid in one lump sum, and early settlement cannot be cancelled.
Bank of Communications
The handling fee will be collected in installments. If the installment is ended early, the fees received will not be refunded, and the remaining fees will be paid in one lump sum.
Guangdong Development Bank
The handling fee is charged in installments, and it is more convenient to prepay online banking in installments. After the prepayment registration is successful, the remaining unpaid handling fee and unpaid principal will be repaid in one lump sum.
Minsheng Bank
The handling fee will be collected in installments. Early repayment will deduct all the handling fees of the unpaid principal and the unpaid remaining installments in the account at one time, and the received handling fees will not be refunded.
Huaxia Bank
The handling fee is charged in installments, and the handling fee for other installments also needs to be paid as usual.
So much for the introduction of how to calculate interest by credit card installment.