You can also withdraw universal money to other users' accounts, but it takes 24 hours for this business to arrive.
Cardholders can also submit an application to Shanghai Pudong Development Bank, and repay the loan in installments after using the credit card.
Generally speaking, users who have applied for the universal fund of Shanghai Pudong Development Bank can use it according to the above methods. The new business universal fund launched by Shanghai Pudong Development Bank is an installment loan based on credit card, which exceeds the credit card quota of Shanghai Pudong Development Bank. Simply put, it is a loan issued outside the credit card limit.
The "universal money" personal credit business issued by Shanghai Pudong Development Bank was first tried out in early 2007. Relying on the credit card, the cardholder's cash withdrawal limit is increased without occupying the credit limit. However, it is also different from pilots. First, interest rates are different. At the time of the pilot, the one-year interest rate was about 12% to 14%, and now it is 8%. Secondly, other bank debit cards can also be processed during the pilot period, which is now limited to Pudong Development Bank's debit card.
What is the interest rate of Pufa Universal Gold?
Take a credit card with a cash withdrawal amount of 1 1,000 yuan as an example. The "universal fund" business allows cardholders to withdraw up to 65,438+0,000 yuan from their debit cards, and there is no handling fee. He only needs to make monthly repayment, and he can choose to divide it into 6 installments or 65,438+02 installments.
At present, a certain percentage of handling fee is charged for cash withdrawal of credit cards. Shanghai Pudong Development Bank charges 3%, starting from 1 1,000 yuan, and 30 yuan handling fee will be charged if it is less than 1 1,000 yuan. In addition, from the date of cash withdrawal, Pudong Development Bank will also charge overdraft interest at the daily interest rate of five ten thousandths (annualized interest rate 18.25%).
"Universal Fund" business loan interest rate is lower than the credit card overdraft interest rate. One-year loan 1 000 yuan, only 900.7 yuan (including interest of 67.4 yuan) needs to be repaid every month, regardless of the time value of funds, and the annual interest rate is 8.084%. Loan for two years, with annual interest rate of 7.9%; The loan term is 3 years, and the annual interest rate is 7.97 1%, all of which will be repaid by monthly installments.
Universal cash cannot be withdrawn directly, but must be transferred to the applicant's debit card first, which is essentially a credit loan. The credit card limit is approved by the credit card department, but the "universal fund" limit is not within the credit limit. It exists in the form of loans, based on credit cards, and the review of credit limits is generally decided by the credit department.