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Is the interest on credit card overdraft of China Merchants Bank calculated according to the simple interest of five ten thousandths or compound interest?
Domestic: 65,438+0% of the cash advance transaction amount, with a minimum charge of 65,438+00 yuan per transaction.

Overseas (including Hong Kong, Macao and Taiwan): 3% of the cash advance transaction amount, and the minimum charge is 3 yuan USD/transaction or 30 yuan RMB/transaction (subject to the current demand, regardless of the same city or different places).

The daily accumulated cash advance of each card in China shall not exceed RMB 2,000.

The interest on cash withdrawal shall be five ten thousandths of the daily interest from the date of cash withdrawal until the money is paid off, with compound interest on a monthly basis.

For example, the bill will be opened on the 5 th and repaid on the 23 rd.

On May 20th, 2000 yuan was withdrawn, and the handling fee was 20 yuan. From the 20th, the interest of five ten thousandths of a day will be calculated, that is, the interest of 1 yuan per day. If repayment is made before the ticket is issued on June 5, interest will be calculated only at simple interest, and if repayment is made after the ticket is issued, interest will be calculated.