How to calculate the interest on prepayment of e-loan of China Merchants Bank?
China Merchants Bank's e-loan prepayment only charges installment fees, and does not charge interest. There are two repayment methods for e-loan of China Merchants Bank, namely repayment at any time and repayment by installments. Choose to repay at any time, without interest-free period and no handling fee. Interest is calculated on a daily basis, with a maximum daily interest rate of 0.05%, which can be repaid at any time, and no handling fee is charged. If you choose to repay by installment, you don't need to pay interest, and the handling fee is charged monthly. The handling fee rate is subject to the system measurement.
Total handling fee for prepayment of e-loan of China Merchants Bank = total installment fee rate. There is no charge and interest for early repayment, but the installment fee has been included in the installment of credit card bills, and the installment fee is not refundable for early repayment.