How to calculate the interest of credit card installment

1. The calculation formula of the total interest of credit card installment repayment is interest = installment amount, installment fee and installment number. Suppose you spend 3, yuan to apply for repayment in three installments, and the installment fee is 1%, then the total interest of installment is 3,1% 3 = 9 yuan.

2. Usually, the more credit card installments, the more interest banks will charge. Some banks will charge installment fees in one lump sum at the first repayment, and then only need to repay the principal, such as China Merchants Bank and China Bank.

how to calculate the interest of credit card installment repayment

If the credit card prepays by installment, if it is installment interest paid in one lump sum, the interest paid will not be returned in advance. The installment fee is paid on a monthly basis, and the interest on prepayment is calculated as of the day when the principal and interest of the bank are paid off. In addition, the user may have to pay a part of the liquidated damages.

when the user settles the credit card installment in advance, he 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 for cash installment business to choose from, and the benchmark handling fee rate for each installment is as follows. .95% for the 3rd phase, .8% for the 6th phase, .75% for the 1th phase, .75% for the 12th phase, .75% for the 18th phase and .75% for the 24th phase.

Extended information:

On this issue, in fact, there are differences in installment interest among different banks. 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 you choose to repay the minimum repayment amount, most banks adopt the method of full interest, charging five ten thousandths (that is, .5%) of interest every day from the date when the consumption is recorded in the account, and compound interest every month.

Therefore, it is not necessarily cost-effective to prepay the credit card by installments. When prepaying the credit card, it is best for users to calculate 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 in one lump sum. It is not supported to repay part of the money in advance. If you want to pay off in advance after installment, you need to contact the bank first to terminate the credit card installment, and the remaining installment amount will be billed in one lump sum on the next billing day, and then all the money will be paid off before the repayment date.

most banks have such a rule on credit card installment: even if the repayment is made in advance, the handling fee will be charged.

China Bank

The installment fee will be collected in one lump sum in the first installment and will not be refunded once it is collected.

China Construction Bank

charges are collected by installments, and the cardholder has successfully handled the installment of the bill. If he applies for early repayment, he must pay all the remaining principal and charges in one lump sum, and the installment charges collected will not be refunded.

China Merchants Bank

charges by installments. If it is necessary to cancel the installment or repay in advance, it is necessary to apply for installment settlement. The unpaid installment amount and fees must be paid off in one lump sum, and the early settlement cannot be revoked.

bank of communications

charges will be collected by installments. if the installment is ended early, the received charges will not be refunded, and the remaining charges will be paid in one lump sum.

Guangdong Development Bank

charges are collected in installments, and prepayment by installments can be conveniently handled in online banking. After successful registration of prepayment, the remaining unpaid fees and principal shall be repaid in one lump sum.

Minsheng bank

charges will be collected by stages. In case of prepayment, all the charges of unpaid principal and unpaid remaining installments will be deducted from the account at one time, and the collected charges will not be refunded.

Huaxia Bank

charges are collected in installments, and the charges for the remaining installments also need to be paid as usual.

how to calculate the interest of credit card installment?

installment is mainly to collect handling fees, and the handling fees of each bank are different, so we need to know the handling fee rate to calculate it. For example, if it is divided into 12 installments, the rate is .6% for one installment:

the principal of each installment = 3,/12 = 2,5 yuan.

the handling fee for each installment = 3,.6% = 18 yuan,

the total handling fee for the 12th installment = 18,12 = 2,16 yuan,

the repayment amount for each installment = 2,5,18 yuan = 2,68 yuan,

the handling fee = the handling fee rate for each installment of the installment principal.

after the cardholder successfully handles a single installment, the corresponding credit line of the credit card will be occupied, and the occupied credit line will be restored with each installment repayment until the last installment or all installment balances are paid off in advance.

the cardholder has successfully handled a single installment amount, and cannot apply for installment again and choose the lowest repayment method for repayment. If the cardholder fails to fully repay the remaining bill amount in the current period on time after successful handling, or the amount to be amortized in any period during the installment period is not fully repaid, it will be deemed as not fully repaid, and interest or late payment fees will be incurred.

:

1. Is it controlled by the wind that credit cards are not divided into installments?

It is indeed possible that the credit card will not be divided into installments, but it is not necessarily because the customer has failed to meet the installment requirements. For example,

1. The customer has not applied for installment within the specified time. For example, if the customer handles the installment of the bill, it needs to apply from the time after the account is issued to the repayment date, and when the repayment date arrives, it is generally impossible to apply again; If it is consumption installment, it usually needs to be applied after the consumption is entered into the account and before the billing date, and the application after the bill sunrise is the bill installment.

2. The installment amount applied for does not meet the requirements of the issuing bank: the bank has requirements for the installment amount of credit cards, and many regulations stipulate that the minimum installment amount should not be less than 5 yuan, so if the customer's consumption is less than 5 yuan, then this consumption cannot be applied for installment. Also, for example, the Construction Bank stipulates that the maximum amount of bill installment should not exceed 9% of the total amount of consumption in the issued bill, so customers can't handle it if they want to installment all the bill amounts of the card.

Second, the best solution to the credit card being controlled by the wind:

The user actively contacts the issuing bank to inquire about the reasons for the credit card being controlled by the wind; Then solve the problem under the guidance of customer service; When the problem is solved, the user can apply to restore the normal status of the card; After receiving the application, the issuing bank will re-examine the card, and when the card meets the conditions for releasing the risk control, the card will be released from the risk control status. Therefore, after the credit card is controlled by the wind, users should take the initiative to contact the bank instead of waiting for the bank to automatically lift the risk control.

how to calculate the interest of credit card installment

the longest installment of credit card is 24 months, that is, two years. In the bank credit card business, interest is calculated according to the total principal amount for installment repayment and minimum repayment. If you pay by installment, interest is calculated according to the total principal amount no matter how many months you have paid it back.

credit card installment refers to the process that when a cardholder uses a 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 will deduct the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder will repay them according to the monthly recorded amount.

in the early days of credit card installment payment, banks often advertised under the banner of "interest-free", and many citizens were indeed "fooled". In fact, interest-free is not free, just a different name.

generally speaking, the handling fee for general credit card installment payment for one year is lower than the annual cash withdrawal interest of 18% and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times in recent years, but the standard of credit card installment fee and cash withdrawal interest has rarely changed. Although the standards of credit card installment fees in different banks are different, the calculation methods are 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 the Xiaoman APP (the official measurement below). The daily interest rate of consumer loans with money is as low as .2%, and the annualized interest rate is as low as 7.2%, and the maximum loan is 2,! It has the characteristics of simple application, low interest rate, fast lending, flexible borrowing and repayment, transparent interest and fees, and strong security.