The installment fee of ICBC's credit card: 2.25% for the third installment, 4.2% for the sixth installment, 6.3% for the ninth installment, 7.2% for 12 installment,1.25% for the 24th installment 14.88%.

By March 3, 2022, ICBC will enjoy a 40% discount on installment fee for credit card bills and consumption transfer. The one-year interest rate after discount is 4.32%, which is similar to the annualized interest rate (simple interest) of 7.88%.

If you use ICBC credit card to spend money in 600 yuan, you can apply for installment payment, and the installment payment fee will be charged at one time according to different standards when handling business. The characteristics are that the fewer stages, the lower the cost; Cash in advance can't repay the loan at least, but it must be repaid in full. Of course you can't apply for installment payment.

How to calculate the interest on installment payment of ICBC credit card?

The calculation method of handling fee is: transaction amount × monthly rate × number of periods. Although the handling fee may be charged in the first payment or once a month, the amount of the two is the same. With the increase of repayment, the money owed to the bank decreases, but the handling fee will not decrease with the progress of repayment, which is different from the calculation method of bank loan interest.

For example, if a purchase costs 2000 yuan and is repaid in 12 installments:

Interest down payment: interest = installment balance 12 installment rate.

Monthly repayment amount = installment balance/12 (integer part)

According to the current preferential interest rate of ICBC until the end of the year, it is: 65438+3.6% in two installments.

Interest =2000×3.6%=72 yuan.

The repayment amount of each installment =2000/ 12= 167 yuan.

The installment payment service of ICBC Peony Credit Card is only available to individual customers of Peony International Credit Card and Peony Credit Card.

The initial amount of ICBC Peony Card installment business is RMB 600 yuan, HKD 600 yuan, USD 65,438+000 and EUR 65,438+000 respectively, and the installment business cannot be handled for consumption below the initial amount.

Icbc freezes consumption in full.

ICBC supports special POS installment payment by special merchants, and can also handle the business of transferring ordinary consumption to installment payment through ICBC's telephone banking and business outlets.