Which bank has the lowest credit card installment fee

Which bank is the best for credit card installment? Faced with the credit card installment business of major banks, the handling fees vary. As a savvy cardholder, which bank should you choose with the lowest installment handling fees?

The minimum installment rates of each bank are also different depending on the number of tranches. Specifically:

In the 3rd tranche, choose CITIC Bank; in the 6th tranche, choose China Guangfa and Minsheng; in the 12th tranche, choose China Merchants Bank and For Minsheng, choose Huaxia and Minsheng for 18 or more installments; Minsheng Bank’s installment rates are generally lower among commercial banks.

Notes on bill installments

1. Bill installments may not be approved. Banks generally have to review the cardholder's bill installments.

2. Only 95% of the new consumption this month can be used for installment.

3. There are at least three situations where bill installments cannot be made: first, installments cannot be made before the bill is issued; second, installments cannot be made for consumption that has been made in installments; third, installments cannot be made for cash withdrawals.

Which bank has the lowest credit card installment fee?

Credit card installment is a good financial management tool, and major financial products have also increased a lot of interest income, so freeing up funds for investment and financial management is the idea of ????many people now, so the installment rates of major banks Which one is more cost-effective? Which bank has the lowest score handling fee? For comparison, the handling fees of 10,000 yuan divided into 12 installments from the three major banks, Minsheng Bank, Industrial Bank, and China CITIC Bank, are as follows.

Minsheng Bank: The handling fee is 908 yuan in 12 installments, and all handling fees must be paid for early repayment

Compared with peers, Minsheng Bank’s credit card cash installments are all within one year. , except for the handling fees for 3 phases, which need to be collected at one time, the others are collected in installments, and the rates are lower than the above two. The bank has also made innovations in services. For example, cardholders can check in real time the maximum cash installment amount that can be applied for in the account to which their card belongs by sending a text message to a designated number. Minsheng Bank also reminds on its official website that cash installment transfers can only be used for personal or family consumption. Cardholders need to retain relevant transaction vouchers, contracts, and invoices, and are obliged to provide the bank with the originals of these materials.

Apply through online banking or call the credit card service hotline or installment hotline to apply. Minsheng Bank's cash installment options are 3, 6, 9, and 12 installments, and the limit cannot be higher than 90% of the original credit limit of the credit card, up to a maximum of 300,000 yuan. In addition to our bank, transfers to Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Bank of Communications, China Everbright Bank, Agricultural Bank of China and Postal Savings Bank of China are also supported. The transfer time is within 2 days after successful application.

Handling rate A loan of 10,000 yuan is repaid in 12 installments, and the rate for each phase is 0.75%, which means that the monthly repayment is 908.3 yuan (including a handling fee of 75 yuan), and the handling fee for one year is 900 Yuan. If you repay in advance, the remaining handling fee also needs to be paid in one lump sum.

However, Minsheng Bank’s credit card cash withdrawal fees are lower than the above two, and the maximum daily cash withdrawal limit is 2,000 yuan. If cash is withdrawn at the bank’s counter or ATM, it will be charged 0.5% of the cash withdrawal amount, with a minimum of each transaction 1 yuan; inter-bank withdrawals are charged at 1% of the cash withdrawal amount, and the daily interest is also 0.05%. Therefore, if you withdraw 10,000 yuan in cash through a credit card, since the minimum handling fee is only 50 yuan, after adding interest, the six-month borrowing cost (984.4 yuan) will exceed the cash installment handling fee.

Introduction to reading: Comparison of credit card installment fees of major banks in 2017: Which bank has the lowest credit card installment fees

Industrial Bank: The fee is 960 yuan in 12 installments, and early repayment requires Paid in full, each inter-bank transfer is 20 yuan

The cash installment business of Industrial Bank's credit card is called "Suixing Loan", and the charging standard for the installment business has just been adjusted on July 30. Compared with its peers, Industrial Bank's cash installment fee collection method is more flexible, offering two methods of one-time or installment collection. According to the bank's official website, Industrial Bank reminds applicants that relevant funds are only for consumption and may not be used for investment. Cardholders must keep relevant charge vouchers for cash payments, and the bank may review them at any time.

To handle the matter, please call the customer service hotline. Industrial Bank customer service said that when a customer calls to apply for cash installment business, the bank will review the relevant information in the background, and the loan can be released after passing it. If it is transferred to the bank's savings card, it will take 2 working days, and if it is transferred to another bank, it will take 2 working days. 3 working days.

The amount that can be applied for Industrial Bank cash installment must be within the available limit of your credit card cash advance, with a minimum of 2,000 yuan and a maximum of 50,000 yuan. The number of installments is 3, 6, 12, 18, 24 and 36.

Although the handling fee method can be freely chosen, the total amount of handling fees collected in one time and in installments is the same. If the loan is 10,000 yuan and is repaid in 12 installments, the one-time handling fee is 9.6%, which is 960 yuan, and the installment fee is 0.8% per month, which means that the monthly repayment is 913.3 yuan (including 80 yuan handling fee). The handling fee is ***960 yuan per year.

And if you want to repay in advance, the one-time handling fee is non-refundable, and the handling fee collected in installments must be paid in advance. In addition, if the cash installment from Industrial Bank is transferred to a debit card of another bank, a fee of 20 yuan per transaction will be charged. Credit card cash withdrawal rules are the same as those of China CITIC Bank.

CITIC Bank: The handling fee is 924 yuan in 12 installments, and the remaining handling fee is waived for early repayment

CITIC Bank's credit card cash installment business includes "New Quick Cash" and "Loan on Demand" , "Xinjinbao", the loan time, amount, and process are slightly different, and you can even apply for it without a credit card from the bank.

The maximum loan of 300,000 yuan for the short-term "Suiborjin" loan product of up to 20 days is limited to CITIC Bank credit card holders. The daily handling fee is 0.04% and is calculated on a daily basis. "Xinjinbao" is a cash installment service that customers without a CITIC credit card can apply for. They need to fill in personal information online and provide proof of income, etc. Here we take the "new express" available to cardholders as an example for comparison.

The application method can be applied through online banking, official WeChat, or mobile client. Cardholders only need to fill in the identity verification information, select the loan amount and number of periods, and the loan can be disbursed as quickly as possible and the money will be received in real time. The minimum amount you can apply for is 1,000 yuan, and you can choose from 1, 3, 6, 12, 24, and 36 periods. The bank will determine the limit based on your credit status.

The monthly handling rate for the 12-term loan is 0.77%, that is, a loan of 10,000 yuan will be repaid in one year, and a monthly handling fee of 77 yuan will be paid. The monthly payment is 910.33 yuan, and the one-year handling fee The fee is 924 yuan. The handling fee for CITIC Bank's cash installment is that the smaller the number of installments, the higher the rate. If the loan term is one period, which is one month, the monthly handling fee is 1.5%, or 150 yuan. After applying for cash installment, you can repay in advance. A handling fee will be charged for one installment, and the remainder will be waived.

If you use the bank's credit card to withdraw cash (domestic), in addition to each transaction not exceeding RMB 2,000, you will also be charged a handling fee of 2% of the cash withdrawal amount, with a minimum of RMB 20. At the same time, since interest is calculated on a recurring basis , compound interest needs to be calculated every month. The handling fee for withdrawing 10,000 yuan in cash is 200 yuan. After adding interest, the cost for 5 months is 973 yuan, which is already more than the cash installment.

Instalment rates of other banks:

Bank of China installment rates: 1.95% for 3 installments, 3.6% for 6 installments, 5.4% for 9 installments, 7.5% for 12 installments, 11.7% for 18 installments, 24 15% per installment

Instalment payment of China Merchants Bank bill: 2.6% for 3 installments, 4.2% for 6 installments, 7.2% for 12 installments

ABC Standard Card: 0.6% per month

ICBC (RMB) card: no handling fee for 3 periods, 1.8% for 6 periods, 2.7% for 9 periods, 3.6% for 12 periods, 5.85% for 18 periods, 24 15.6% for each period. (one-time charge)

CCB: 0.7% for 3rd period, 0.6% for 6th and 12th period

Guangfa Card: 0.65 for 6th and 12th period %, 0.7% for 18 periods and 0.72% for 24 periods (charged every month).

China Everbright Bank Standard Card: Apply for installment repayment before consumption, 12-month installment, 0.5% monthly charge. The types of bill installments include 3, 6, 9 and 12 issues. The handling fees are 2%, 3%, 4% and 5% respectively. They are charged every month

Pudong Development Standard Card: 0.72 for 3 issues %, 0.7% for 6 periods, 0.66% for 12 periods (charged every month)

Which bank has the lowest credit card installment fee

Generally speaking, Agricultural Bank of China has the lowest credit card installment fee.

Specifically, if it is divided into 3 installments, ICBC has the lowest installment fee; if it is divided into 6 installments, the lowest is 3.6%, and you can choose Bank of China, ICBC and Agricultural Bank of China; if the installment is more than one year, you can consider Agricultural Bank of China, which is 18 months in installments. Many advertisements advertise that installments do not charge interest, but they may charge handling fees, so be sure to find out and ask.

1. ICBC credit card installment fee: 1.65% for 3rd period, 3.6% for 6th period, 5.4% for 9th period, 7.2% for 12th period, 11.7% for 18th period, and 15.6% for 24th period.

2. Agricultural Bank of China credit card installment fee: 0.48% per period for periods 3-6, 0.45% for periods 9-24.

3. Bank of China credit card installment fee: 1.95% for 3rd period, 3.6% for 6th period, 5.4% for 9th period, 7.5% for 12th period, 11.7% for 18th period, and 15% for 24th period (one-time charge).

4. CCB credit card installment fee: 0.7% for 3rd period, 0.6% for 6th period and 12th period (charged every month).

5. CITIC Bank credit card installment fee: 2.5% for 12 installments (charged every month).

6. Pudong Development Credit Card installment fee: 0.72% for 3 periods, 0.7% for 6 periods, 0.66% for 12 periods (charged every month).

7. China Merchants Bank credit card installment fee: 2.6% for 3 installments, 4.2% for 6 installments, 7.2% for 12 installments (charged every month).

8. Bank of Communications credit card installment fee: 0.72% per month (charged every month).

9. Guangfa Credit Card Installment Fee: 0.65% for 6th and 12th periods, 0.7% for 18th period, and 0.72% for 24th period (charged every month).

10. Everbright Credit Card Installment Fee: If you apply for installment repayment before consumption, 12-month installment will be charged at 0.5% per month. The types of bill installments include 3, 6, 9 and 12 installments, and the handling fees are 2%, 4%, 5% and 6% respectively (charged in one time).

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank and paying handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

Which credit card has the lowest installment fee?

For all card friends, of course they all want to get their favorite credit card quickly, but the most troublesome part of applying for a credit card is The thing is rejection, which affects both efficiency and mood. So there are so many types of credit cards from major banks, how should we choose? Which credit cards are easy to apply for?

1. CITIC Bank Taobao Card can greatly improve the efficiency and success rate of card approval by the card issuer when checking customers' credit by binding the customer's Taobao account. CITIC Bank's credit card approval speed has always had a good reputation among cardholders. According to tests, when applying for a credit card online from CITIC Bank, you will usually receive an SMS from the bank within 24 hours, which is quite efficient! Apply for CITIC Taobao Card online now and get an instant discount of 30 yuan on your first quick payment. Don’t miss this offer!

2. GF True Love Card is the first credit card exclusively for women in China, with a transparent card design, advocating the female life philosophy of "independence, calmness, intelligence, and frankness", and has a three-fold points plan for merchants of your choice, Functional services such as optional insurance plans, as well as discounts from many merchants, provide women with more personalized choices and more considerate services. What's more important is that applying for this card is simple and quick. As long as you provide proof of stable income and personal information, there is no obstacle to applying for this card.

3. Guangfa Car Owner Card is specially customized for private car owners. Provide a full range of discounts and services for car owners and their cars. Enjoy 100 kilometers of free roadside assistance nationwide, 5x points or 1% cash rebate for refueling with your card, optional high-value insurance protection, and many other features and discounts. Naturally, the GF Car Owner Card has saved many car owners a lot of trouble when applying for the GF Car Owner Card. When applying for the GF Car Owner Card, users only need to provide the driving license of their car to greatly increase the success rate of applying for a credit card!

4. New users of China Merchants Bank’s QQ co-branded credit card will receive a free American Traveler fashion backpack of RMB 388 with a full credit card payment. New credit card customers only need to make three card payments within two months, with each payment exceeding RMB 188. Receive a free American Traveler fashion backpack worth 388 yuan.

The first cash withdrawal of each month is free of charge.

5. The best card to apply for is the China Merchants Young Card. This card is one of the most popular among young people. White-collar workers who have just graduated can apply, and college students over 18 years old with a formal internship contract can also apply. If the cash withdrawal limit of up to 100% of the credit limit is not enough, then the first cash withdrawal in every calendar month is free of charge!

6. Ping An Bank’s credit cards are very down-to-earth, such as car owners’ cards for car owners, standard cards for supermarket shopping, platinum cards for airport discounts, and green channels to go directly to movie theaters. Card promotions cover food, fitness, entertainment, shopping, etc. The most popular and easiest credit card to apply for.

Is credit card installment good to use? Which bank card has the lowest installment interest?

The interest rates are almost the same. The longer the installment, the higher the interest rate. Installment is also very convenient, especially when funds are tight. Installment can relieve immediate pressure and extend the repayment time.

Generally, the fees of the four major banks, ICBC, Agricultural Bank of China, China Construction Bank and China Construction Bank, are similar. Among them, if it is divided into 3 installments, ICBC is the lowest; if divided into 6 or 12 installments, the four major banks are the same, each installment is 0.6 %; for the 18th or 24th period, the ABC is 0.6% for each period.

The installment fees of large joint-stock commercial banks such as China Merchants Bank, Shanghai Pudong Development Bank and Minsheng Bank are relatively high. If you repay the loan on time after applying for installment, no interest will accrue, only a handling fee will be charged.

Extended information:

Agricultural Bank of China's installment business:

Instalment payment handling fee: The maximum is not more than 1.2% of the installment amount and the number of installments.

Extension handling fee: no more than 200 yuan or equivalent.

The annualized handling rate for installment business conversion is: 0%-16.04% (the above rate is the annualized internal rate of return calculated based on the cardholder’s cash flow. Due to the interval between the installment product chosen and the billing date , the actual number of days per month, early repayment, cooperative merchants, etc. may vary)