How to calculate China Merchants Bank credit card interest

It is calculated based on the daily interest rate of 10%.

The "Notice on Issuing the "Credit Card Business Management Measures"" has corresponding regulations:

Article 18 The maximum overdraft period of a credit card is 60 days. Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank statement, and a daily interest rate of 0.10% for more than 15 days.

If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15/10,000. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Extended information:

Relevant legal provisions of the "Notice on Issuing the "Credit Card Business Management Measures"":

Article 99 Banks shall We implement centralized risk management of single customer credit, regularly calculate the sum of corporate card credit and advance limits, and continuously monitor all loan credit lines and their usage of the Bank by parties to corporate card contracts.

Regularly conduct inspections on the authenticity and suitability of corporate card-related transactions to prevent the use of false transactions to obtain working capital loans. In the process of conducting on-site inspections and risk assessments, relevant inspection and assessment personnel shall abide by the relevant regulations on the security management of credit card business of commercial banks.

Article 100 The China Banking Regulatory Commission and its dispatched agencies shall implement off-site supervision and on-site inspections of the credit card business in accordance with the law, monitor and evaluate the risks of the credit card business, and provide guidance and supervision to self-regulatory organizations related to the credit card business. .