How to calculate the interest of China Merchants Bank Credit Card Installment Credit Card?

The specific interest rate of China Merchants Bank Credit Card Installment Credit Card needs to be determined based on the number of installments. Under normal circumstances, you can choose bill installments in 3, 6, or 12 installments. There is no interest in the bill installments, and the corresponding handling rates are 0.26, 0.42, and 0.72.

You have paid 4,000 yuan in installments. If you apply for installment repayment before the repayment date of the month, you can avoid interest, but there will still be a certain handling fee. If divided into 12 installments, the monthly repayment is 333.33 40000.72 = 362.13 yuan.

Method for calculating the handling fee for installment payment of China Merchants Bank credit card bill

1. If you do not swipe your card at a designated merchant or go to a credit card mall for consumption, this consumption is bill installment. Apply for installment payment. 3, 6 or 12 periods, and bear the corresponding handling fee of 2.6, 4.2 or 7.2.

2. After the first installment is collected, just repay the single installment for multiple consecutive months. China Merchants Bank provides cardholders with personalized options of 2, 3, 6, 10, 12, 18 and 24 periods. The corresponding handling fee rates for each period are 1.0, 0.9, 0.75, 0.7, 0.66, 0.68, 0.68.

3. To apply for installment payment for transactions that have not been billed, currently only 2, 3, 6, 10 and 12 installments are available. Two of the phases can only be applied for through China Merchants Bank’s mobile banking and mobile life channels.

4. Handling fee per period = total installment amount × handling fee rate per period. The total principal amount of the installment is amortized evenly on a monthly basis, and the remainder is included in the last installment. The installment amount of each installment and the handling fee of each installment are recorded at the same time.

Extended information:

Calculation of interest on China Merchants Bank credit cards

1. According to the credit card application contract, use China Merchants Bank credit cards to consume first and then repay. If you repay in full before the last payment date shown, your card consumption will not accrue interest.

2. If the repayment is not made in full, the number of interest-bearing days in the bill will be calculated from the recording date of each account to the repayment date of the account, and the daily interest will be 0.05%. is the interest rate.

For example: A cardholder’s bill date is the 7th of every month. He spends 2,000 yuan by swiping his card on April 1st. The consumption is credited to his account on April 2nd and will be displayed on the bill on April 7th. The "repayable amount for this period" is 2,000 yuan, and the "minimum repayment amount" is 200 yuan. If the cardholder only repays 200 yuan on April 25, the due payment date, the interest to be paid as of that day will be shown on the bill on May 7, that is, the 23-day interest and repayment of the 2,000 yuan revolving credit principal. 13 days of interest on the remaining 1,800 yuan principal: 2,000 yuan Yuan 11.7 yuan = 34.7 yuan.

3. However, unlike consumption first and repayment later, credit card cash advance does not enjoy interest-free repayment. From the day of withdrawal to the repayment date, the daily interest rate is 0.5%. Interest is compounded monthly.

Reference material: China Merchants Bank official website - credit card interest

How high is the interest rate of China Merchants Bank installment card

Bill installment fee per installment = total installment amount × each installment The minimum handling fee rate for each period is 5 yuan, which is 0.9 per period for 3 periods, 0.75 for 6 periods, 0.70 for 10 periods, 0.66 for 12 periods, 0.68 for 18 periods, and 0.68 for 24 periods. After the bill installment application is successful, the current bill only needs to repay the amount other than the bill installment. The principal amount payable in the first installment (principal payable in each installment = total installment principal ÷ number of installments) and handling fees will be reflected in the next month's bill. .

There is no interest in the credit card installment of China Merchants Bank, only the installment handling fee, and the handling fee rate for each installment is between 0-1.67. When a credit card is used in installments, there is generally only an installment fee and no interest. Only credit card overdrafts and cash withdrawals have interest. The installment fee rate of China Merchants Bank credit card is related to the number of installments. The longer the installment period, the lower the fee rate.

Currently, China Merchants Bank offers seven installments: 2, 3, 6, 10, 12, 18 and 24. The corresponding handling rates for each installment are 1.0, 0.9, 0.75, 0.7, 0.66 and 0.68 respectively. ,0.68. Handling fee per period = total installment principal × handling rate per period for the corresponding period. The handling fee will be credited to the credit card's RMB account in installments after the bill installment business application is successful. The principal repayable in each installment of the bill installment is equal to the total principal amount divided by the number of installments. The principal repayable in each installment (accurate to the minute) is charged to the cardholder's credit card account month by month, and the remainder is included in the last installment. If the installment amount is 5,000 yuan and is repaid in 6 installments, the handling fee per period is 0.75, then the handling fee per period = 50,000.75 = 37.5; the principal payable per period = 5,000/6 = 833.33 yuan; the total amount payable per period =37.5 833.33=870.83 yuan.

The installment payment handled by China Merchants Bank credit card can be paid off in advance, but the handling fee for the installment payment by China Merchants Bank credit card is a one-time charge. That is, when you choose to pay in installments, the first installment bill amount and the installment procedures The fee is paid in one lump sum. There is a one-time handling fee, so even if you repay early later, the money will not be refunded. It should be noted that if the interest is charged in one lump sum when you make installments, the interest collected before the early repayment will not be refunded. If the interest is charged monthly, then the interest after your early repayment will not be charged again. You can consult China Merchants Bank Credit Card Customer Service for the specific amount of repayment. China Merchants Bank credit card installment methods include: Tianfu Energy (600509) Xinjiang Tianfu Energy Co., Ltd. is the only company in the northwest that integrates cogeneration of heat and power, thermal power, hydropower, photovoltaic power generation, and waste incineration power generation, integrating generation, supply, and dispatch. A listed company, it is mainly engaged in the production and supply of electricity, heat, and natural gas supply. It also undertakes other businesses such as power design and installation. Online banking application: Cardholders can log in to China Merchants Bank Credit Card Online Banking, click on the "Instalment Management" page online, enter "Bill Installment", enter the installment amount, select the number of installments, wait for the bank's review, and the installment can be successful if the review is passed. Telephone application: Cardholders can call China Merchants Bank’s credit card customer service hotline 400-820-5555. After identity verification, cardholders can press 708 Transfer Bill Installment Hotline to select the appropriate installment amount and number of installments, and wait for the system to approve the application. It will be successful. SMS application: The cardholder edits the text message "AG#Amount#Issue" and sends it to 1065795555 (mobile users) or 1065502010095555 (China Unicom users). After the system application is approved, the installment can be successful.

Operating environment: iPhone Ten thousand yuan in twelve monthly installments, the total interest is 792 yuan.

The handling fee for China Merchants Bank credit card in 12 installments is 0.66. The handling fee per installment = the total installment principal × the handling rate per installment for the corresponding number of installments; then it is the installment of a bill of RMB 10,000. 12 periods: The principal required for each period is: 833.33 yuan, and the handling fee required for each period is: 66 yuan, so the total repayment for each period of 12 periods is: 899.33 yuan.

Extended information:

For transactions that have not been billed, cardholders can apply for installments between the date of the transaction and 19:30 on the billing date of the corresponding bill; for transactions that have been billed For bill transactions, you can apply for installment between the day after the current bill date and the due date of repayment.

If the account has automatic repayment set up, the application deadline is 17:00 on the due date of repayment. If you have installment plans for future transactions or bills, you can use the scheduled installment function.

When applying for RMB bill installments, the minimum amount applied for each time is no less than 300 yuan. When applying for US dollar bill installments, the minimum amount applied for each time is no less than US$100. The total amount applied for installment payment for unbilled transactions must be equal to the total amount of the original transaction. Cardholders are not supported to apply for installment repayment of part of the amount of a single transaction.

Reference material: China Merchants Bank - Bill Installment Introduction

China Merchants Bank Credit Card Installment Interest Rate

China Merchants Bank’s credit card installment has no interest, only installment handling fee, each installment The handling fee rate is between 0-1.67.

When a credit card is used in installments, there is generally only an installment fee and no interest. Only credit card overdrafts and cash withdrawals have interest.

The installment fee rate of China Merchants Bank credit card is related to the number of installments. The longer the installment period, the lower the fee rate. Currently, China Merchants Bank offers seven installments: 2, 3, 6, 10, 12, 18 and 24. The corresponding handling rates for each installment are 1.0, 0.9, 0.75, 0.7, 0.66 and 0.68 respectively. ,0.68.

The handling fee for each period = the total principal amount of the installment × the handling rate for each period of the corresponding period. The handling fee will be credited to the credit card's RMB account in installments after the bill installment business application is successful. The principal repayable in each installment of the bill installment is equal to the total principal amount divided by the number of installments. The principal repayable in each installment (accurate to the minute) is charged to the cardholder's credit card account month by month, and the remainder is included in the last installment.

If the installment amount of 5,000 yuan is repaid in 6 installments, the handling fee for each installment is 0.75, then the handling fee for each installment = 50,000.75 = 37.5; the principal payable for each installment = 5,000/6 = 833.33 yuan ,;The total amount payable in each period=37.5 833.33=870.83 yuan.

The installment payment handled by China Merchants Bank credit card can be paid off in advance, but the handling fee for the installment payment by China Merchants Bank credit card is a one-time charge. That is, when you choose to pay in installments, the first installment bill amount and the installment procedures The fee is paid in one lump sum. There is a one-time handling fee, so even if you repay early later, the money will not be refunded.

It should be noted that if the interest is collected in one lump sum when you make installments, the interest collected before the early repayment will not be refunded. If the interest is charged monthly, then the interest after your early repayment will not be charged again. You can consult China Merchants Bank Credit Card Customer Service for the specific amount of repayment.

This concludes the introduction to China Merchants Credit Card Installment Interest Rate and China Merchants Bank Credit Card Installment. Have you found the information you need?