Need to repay.

It is necessary to repay the installment amount. After the cardholder successfully handles the bill installment, the installment amount will be included in the bill starting from the latest installment after the installment. The handling fee for each installment will be entered into the account at the same time as the installment amount and calculated. into the minimum repayment amount.

If the cardholder fails to repay the remaining bill amount of the current period in full after the application is successful, it will be regarded as incomplete repayment, and the current bill will not enjoy the interest-free repayment period for consumer transactions.

Extended information

The credit card installment rate is an independent pricing item of the bank, not a government-guided item, and the bank has the authority to adjust it. In fact, even if the bank increases the credit card installment fee rate, there will still be a large number of cardholders who will use the credit card installment service. The bank believes that compared with losing a small number of users due to the increase in fee rate, the benefits gained from increasing the fee will be smaller. higher.

Generally, the one-year credit card installment fee is lower than the one-year cash withdrawal interest of RMB 18, but higher than the bank's one-year commercial loan interest of RMB 5.31. It is worth mentioning that commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

There are very few products on the market that can completely replace credit card installment. Credit card installment is actually a kind of unsecured credit loan. Although many banks currently also provide credit loans, the processing speed, process and In terms of interest rate and handling fees, there is no obvious advantage compared with credit card installment.

A bank credit card person told the Beijing Times reporter that even after the credit card installment rate is increased, it will still be lower than the interest rate of credit loans. The annual interest rate of credit loans on the market is around 18, which is higher than the installment rate of credit cards. annual interest rate.

Baidu Encyclopedia--Credit Card Installment Payment

People's Daily Online--Credit Card Installment Fees Increase? You need to settle the account before choosing installment payment