1. How is the interest of China Construction Bank’s credit card calculated?

If you do not repay the full amount of the loan and overdraft before the repayment date, China Construction Bank will charge loan interest on a daily basis and Compound interest is collected on a monthly basis. The interest calculation period is from the transaction accounting effective date to the repayment period, and the interest cost is calculated based on the specific loan repayment amount. CCB's interest rate standard is 0.05% per day, and the upper and lower limit standards are strictly set in accordance with the relevant requirements of the People's Bank of China, and will be appropriately adjusted in accordance with control regulations.

China Construction Bank Credit Card Interest Calculation

During the interest-free repayment period:

The interest-free repayment period refers to cardholders who repay in full on time The interest-free period for consumer transactions is from the bank accounting date to the repayment date, with a minimum of 20 days and a maximum of 50 days. Overdraft cash withdrawal transactions do not enjoy the interest-free repayment period.

If you fail to repay in full before the due payment date, you will not enjoy the interest-free period. China Construction Bank will charge interest at a daily rate of 5/10,000 and compound interest on a monthly basis. The interest accrual date is from the accounting date to the repayment date, and the interest accrual principal is calculated based on the actual amount repayable.

If you fail to repay before the due payment date or the repayment amount is less than the minimum repayment amount, China Construction Bank will not only charge interest according to regulations, but also charge the unpaid portion of the minimum repayment amount. 5. Charge late fees.

If your bill date is the 17th of a certain month, the repayment due date (taking 30 days in a month as an example) is the 7th of the next month (if the month has 31 days, it will be the 6th of the next month) The day and month are calculated accordingly).

If you spend 10,000 yuan on April 15th, and the payment is credited to your account on that day, the bank accounting date will be April 15th, because your statement date is April 15th. On April 17th, the repayment due date is May 7th, 20 days after the bill date, and the longest interest-free period for this consumption is 23 days;

If you spend $10 on April 18th, 000 yuan, and the consumption amount is credited to your account on the same day, the bank accounting date is April 18. Since the consumption amount should be debited on the billing day of May 17, it is not until the due date of repayment. There are 50 days on June 6th, so the maximum interest-free period for this purchase is 50 days.

During the recycling period:

Revolving credit generally means that the credit limit of a credit card can be recycled. As long as the customer can repay the credit limit in time (including repayment according to the minimum repayment method) after each use, it can be used repeatedly and there is no need to apply before each use. Revolving credit is the inherent attribute and main function of credit cards, which brings convenience to cardholders.

Interest calculation for revolving credit: The amount of each consumption in the previous period's statement is the interest-bearing principal, and the number of interest-bearing days is from the date when the account is recorded to the date when the account is paid off; The revolving credit interest rate is uniformly stipulated by the People's Bank of China, with a daily interest rate of 5/10,000 and compound interest calculated on a monthly basis. Interest on the revolving credit will be stated on your next bill.

Calculation example:

Assume that your bill date is the 7th of each month and the repayment due date is the 27th of each month. If you spend 10,000 yuan on March 20, and the payment is credited to your credit card account on March 23 (i.e., the billing date), your statement on April 7 will list: All of this period The repayment amount is 10,000 yuan, and the minimum repayment amount is 1,000 yuan. If no other transactions are recorded from April 8 to May 7, and you pay the minimum repayment amount of RMB 1,000 on April 27, the bill on May 7 will not include the remaining consumption amount. In addition to the partial repayment of 9,000 yuan, an additional 225 yuan of interest will be included.

It would be very beneficial for everyone who holds a China Construction Bank credit card to have a clear understanding of the interest calculation method of China Construction Bank's credit card.

2. Bank of China has shortened the loan period from 10 years to 5 years! Is this kind of interest still calculated for 10 years? Is there such a thing?

The interest before you reduce the loan term is calculated based on 10 years. After the change, the interest will be recalculated based on your remaining principal and the remaining years after the change. It is absolutely impossible to calculate the interest based on 10 years.

There is no clear distinction between good and bad prepayment.

If your money is spare money and there are no other investment channels, you can repay it in advance. If you have other uses (such as investment, stock trading, purchasing other finance, etc.), then do not repay it in advance. After all, of all loan interest rates, home loans have the lowest interest rates.

Hope it can help you!

If you do not provide the specific loan start date and the exact date of early repayment, the specific results cannot be calculated.

Also. Interest cannot be repaid in advance. The 1,300 interest you mentioned should be liquidated damages (generally, there are liquidated damages for early repayment within the first year of a loan)

Furthermore, on the first day of each year If there were interest rate adjustments or early repayment of principal in the previous year, the calculation method will be different, which will result in an increase in the repayment amount compared to the previous year. This is relatively normal.

One of your questions is that the loan has not been completed for one year, and the other is that it has passed the New Year. One is that the interest rate was raised last year, so the calculation is very complicated. However, I can say with certainty that the bank did not make a calculation error. You can ask them to explain to you the specific calculation method. Of course, manual calculation is more troublesome, not impossible, but troublesome. If you understand the calculation method, you should be able to roughly estimate it.

If you still have questions. Let's continue the discussion.

3. How is the interest on early repayment of Bank of China loans calculated?

In the case of partial prepayment, the principal and interest repaid before will remain unchanged. Then repay the amount in advance) as the total amount, and then repay according to the agreed time (the advance part may be used to shorten the period)

4. How to calculate the interest recalculation cycle of Bank of China loans?

When your Bank of China loan interest rate is a floating interest rate, the loan interest rate will be adjusted according to the contract. The repricing date is the day when the interest rate will be adjusted as agreed with the bank. The repricing cycle is how often the interest rate is adjusted starting from the next repricing date. For example, if your mortgage is converted to LPR, the repricing cycle is 12 months, and the next repricing date is January 1 of the following year, then your mortgage loan on January 1, 2021 will be based on the corresponding term in December 2020. The interest rate will be recalculated based on the LPR value. This interest rate will remain unchanged for 12 months until January 1, 2022. Your mortgage interest rate will then be recalculated based on the LPR value for the corresponding period in December 2021. If you have any questions, please contact the Bank of China loan processing branch for details. The above content is for your reference, please refer to actual business regulations.