How much is the interest rate for a credit card loan of RMB 300,000 per year? What is the approximate interest rate for an online loan loan of RMB 300,000 per year?

The interest rate for an online loan of RMB 300,000 per year is around RMB 20,000 to RMB 50,000.

If the loan that the user applies for is an ordinary bank loan such as a decoration loan, a credit loan, a pure commercial loan, etc., then the one-year loan interest rate that most users can apply for is basically between 4.35 and 4.77. So assuming that the user applies for a loan of 300,000 yuan, the interest will basically be between 13,050-14,310 yuan after one year.

Notes on the use of credit cards

Many cardholders are unwilling to open a card and use it because of the low card limit. If it is Guangfa Bank, you can try to freeze the limit, that is, the card will not be used for a period of time. After activation, China Guangfa Bank will take the initiative to increase the amount.

If it is from another bank, it is recommended to cancel the card (account cancellation): as mentioned above, once the card is approved, the credit card account will be displayed on your credit report, including the limit information. . First of all, its limit is not high, so the bank you apply for later will refer to this limit to approve the card for you; secondly, although its limit is not high, it still occupies your total credit limit.

How to calculate credit card interest

There is an interest-free period of 20-50 days for normal credit card consumption. If the bill is paid in full during the interest-free period, there will be no interest. Credit cards charge interest in accordance with the Central Bank's "Bank Card Business Management Measures". The interest is 0.05 per day, which is 18.25 per year.

01

What does the daily interest rate of 0.05 mean?

This represents five ten thousandths, which is 10,000, and 5 yuan of interest is charged per day. For 1,000, it is 0.5 yuan per day. So after a month like this, the 10,000 bill will be an interest of 150 yuan per pound.

If 5,000 has been repaid this month, how will the interest be calculated next month? Next month, the remaining unpaid portion will be calculated, that is, the unpaid portion of 50,000.05 = 2.5 yuan/day. That’s 75 yuan a month.

02

How to calculate interest on credit card installment?

There is no interest for credit card installments, but there will be handling fees, which are not low.

The installment handling fees of most banks are calculated based on the total installment amount, not the remaining principal, so don’t subconsciously think it’s cheap when you see a lower handling fee. The actual interest rate for installments is approximately twice the bank’s advertised interest rate.

03

How to calculate the handling fee for credit card cash withdrawal?

Generally speaking, most of the handling fees for bank credit card cash withdrawals range from 1 to 3% of the cash withdrawal amount. The handling fee for credit card cash withdrawals of 10,000 yuan is between 100 yuan and 300 yuan. Of course, there are also some credit card cash withdrawals that charge per transaction.

In addition, there is no interest-free period for credit card cash withdrawals, so not only does a credit card cash withdrawal charge a handling fee, but the bank will also charge you interest based on a certain interest rate on the amount you withdraw. Most banks will charge you interest at a daily interest rate of 0.05%. The interest rate for withdrawing 10,000 yuan a day is 5 yuan, and compound interest is calculated on a monthly basis.

04

Are credit card interest rates and loan ratios high or low?

Credit cards sometimes give you a daily interest rate when charging. Many friends who don’t know the details often don’t know whether it is really acceptable when looking at such a low interest rate. In fact, the daily interest rate only needs to be multiplied by 365 can calculate your annual interest rate. The general situation is as follows.

When the credit card chooses the minimum repayment or is overdue, interest will be charged at a daily interest rate of 0.5%. The daily interest rate converted to the annual interest rate is 0.05365=18.25, and the annual interest rate of bank loans is around 5, so the interest rate of the credit card is actually very high. If you do not enjoy the interest-free service of the credit card, you will need to pay high interest fees. of.

However, compared with online loan products, the interest rates of most online loan products are 18-36, so even if the credit card charges interest, it is within a reasonable range.

Once interest is charged on a credit card, the cost of using it will be very high. Please do not overdraw your money to avoid excessive debt.

Do you really know what the real interest rate is for credit cards, online loans and other credit loans?

At present, many debtors are in trouble and have been unable to pay off their debts. In fact, I have been paying back the money, but when I look back, I find that I have paid more and more, without even thinking about why? So let’s do the math using the simplest example.

Take a credit card as an example. The ordinary credit card installment interest rate is a daily interest rate of 5_, which means that if you borrow 10,000 yuan, the interest per day is 5 yuan. Suppose you borrow a principal of 12,000 yuan and divide it into 12 installments, with a repayment of 1,000 yuan in each installment.

Simply look at borrowing 12,000 yuan and paying 2,160 yuan in interest. The annual interest rate is 18, which is less than 2 cents as the folk say. But in fact, your principal is decreasing every month. When you are in the 12th installment, your principal is only 1,000 yuan, but you bear 180 yuan in interest. Some professionals have calculated that the highest comprehensive annual interest rate is close to 60, which is often said to be 6 points.

Are these borrowing costs scary? It’s really not that I don’t know, I’m shocked when I calculate it. So in the real world, how many commercial services can achieve a net profit of 60%? If your positive income balance is not enough to cover the total interest, then you will never be able to repay these loans.

Most people with debts like to tear things apart to make up for others. Please remember this sentence: "All financing cash flows with costs can never solve your liabilities."

How much is the interest on an overdue online loan of RMB 50,000 for one year?

The interest for an overdue loan of RMB 50,000 for one year is 9,125 yuan. The bank's interest on overdue repayment of credit card overdrafts is calculated at 50,000 per day. The specific interest rate depends on the usage and repayment conditions. Overdue interest is affected by various factors such as the principal of the user's loan, the lending platform, overdue interest rate, overdue penalty interest, and liquidated damages. It requires detailed analysis of specific issues and cannot be generalized. Normal interest stops calculating after the overdue period begins. I owe 50,000 yuan for an online loan, and the interest is calculated layer by layer. To give a simple example, if an online loan owes 50,000 yuan, his original interest is based on years, and the interest rate per year is about 10 points. In other words, you will need to pay back 55,000 yuan with interest. This is the amount repaid within a reasonable range, but if it is overdue, the online loan company will charge additional interest fees.

Legal Basis

Article 676 of the "People's Republic of China and Civil Code" The borrower's liability for late repayment of the loan. The borrower fails to repay the loan within the agreed time limit. , overdue interest shall be paid in accordance with the agreement or relevant national regulations.

That’s it for the introduction of how to calculate interest on credit card online loans.