The overdraft interest rate is five ten thousandths of the daily interest rate, calculated on a monthly basis.

The Measures for the Administration of Bank Cards have corresponding provisions on it:

Article 22 The issuing bank shall charge a late fee and an over-limit fee of 5% of the unpaid minimum amount and the over-limit amount of credit card holders respectively.

the overdraft of credit card will be compounded monthly, and the overdraft of quasi-credit card will be charged monthly with simple interest. The overdraft interest rate is .5 ‰ of the daily interest rate, which will be adjusted according to this interest rate adjustment of the People's Bank of China.

Extended data:?

relevant provisions of the measures for the administration of bank cards:

article 19? The preparatory period of the bank card clearing institution is one year from the date of approval. If the applicant fails to complete the preparatory work within the prescribed preparatory period, it shall explain the reasons, which may be extended for 3 months with the approval of the People's Bank of China.

for the trademark registration certificate of the bank card clearing brand trademark, if the bank card owned by the investor is used to clear the brand, the investor's trademark ownership certificate, transfer agreement or authorization agreement, and the applicant's registered trademark use license shall be provided.

article 2? The issuing bank shall establish an authorization examination and approval system, and clarify the authorization authority and authorization limit for internal staff at different levels. The issuing bank shall strengthen the management of the stop payment list, and timely receive and send the stop payment list.

Baidu Encyclopedia-Measures for the Administration of Bank Cards