What is the interest rate of Agricultural Bank of China's credit card?

Agricultural Bank of China's credit card does not require interest for swiping the card and repaying it on time. Interest is only required when the credit card is overdue, minimum repayment, or cash advance. Interest is calculated on a daily basis, and the daily interest rate is 0.05%. The following is the calculation method of interest:

1. Overdue repayment

Interest = overdue amount × daily interest rate × day of transaction The number of days until the due date is paid off.

2. Minimum payment amount repayment

The first part of interest = total bill amount × daily interest rate × number of days from the transaction day to the day before the minimum payment amount is repaid;

The unpaid interest = the unpaid amount × daily interest rate × the number of days from the minimum payment amount to the day before the debt is paid off;

Total interest = the unpaid interest on the first part of interest.

3. Cash advance

Interest = total cash advance × daily interest rate × number of days from the day of cash withdrawal to the day before the debt is paid off.

Agricultural Bank of China credit card application conditions:

1. A natural person who is over 18 years old and has full capacity for civil conduct.

2. Have a good credit record and comply with the relevant regulations on bank credit card credit management.

3. Have legal, sufficient and stable income or assets.

4. Have a fixed residence, stable job, or stable business location within the territory.

5. If credit is granted based on the application score, the application score must meet the minimum requirements of the bank.

Any individual who is over 14 years old can apply for a supplementary credit card from Agricultural Bank of China with the consent of the main cardholder.

The Agricultural Bank of China credit card application information is as follows:

The most basic one is of course personal identification, including a copy of resident ID card or military officer ID. In addition, if you are a compatriot from Hong Kong, Macao, Taiwan or a foreigner If you apply in mainland China, you will also need to provide proof of employment.

Then there is the basic proof of personal income and financial resources, including salary certificate from the unit or company, a copy of social security (paid for more than half a year), etc.

The last is the auxiliary information for applying for a credit card: academic qualifications, professional titles, professional qualification certificates, self-owned real estate certificates, self-owned car driving licenses, telephone, water, electricity, and gas bills for the past three months in the current place of residence. The original of any document, a copy of a time deposit certificate issued at the Agricultural Bank of China with an amount exceeding 10,000 yuan, etc.

As we all know, the more detailed materials you provide and the more materials you have to prove your creditworthiness and financial resources, the greater the possibility of applying for a card and the higher the card limit.

How to calculate interest on Agricultural Bank of China's credit cards

The overdue interest on Agricultural Bank of China's credit cards is calculated from the bank's accounting date, with a daily interest rate of 0.05% and compound interest calculated on a monthly basis.

Interest = overdue amount × daily interest rate × number of days from the day of transaction to the day before the debt is paid off.

Repayment of the minimum payment amount: The first part of interest = total bill amount The number of days from the day when the minimum payment is due to the day before the debt is paid off, the total interest = the interest on the unpaid portion of the first part of interest.

Extended information:

Notes:

Normally speaking, the day when the cardholder repays the loan is used as the dividing point. All the money is owed before the repayment. Interest will be calculated on a daily basis based on the payment, and interest will be calculated on a daily basis based on the remaining arrears after repayment. The sum of the two items is the total amount of interest payable.

If the last period's bill amount includes interest, and the cardholder does not have the last payment date to pay off the entire balance, then the next period's bill will use the last period's principal interest as the next period's principal. Interest calculation. In fact, banks determine whether a cardholder is overdue based on whether the cardholder has paid off the minimum payment amount before the final repayment date. Once overdue occurs, corresponding liquidated damages will be incurred.