The interest on credit loans is calculated according to the loan amount and borrowing time.
Therefore, in order to pay less interest, the principal must be repaid as soon as possible. The longer we wait, the higher the interest will be.
How to calculate the interest of credit cards in rural commercial banks
The interest algorithm of credit cards of parent bank and rural commercial bank is: interest = loan principal * loan time * loan interest rate.
The interest on credit loans is calculated according to the loan amount and borrowing time.
Therefore, in order to pay less interest, the principal must be repaid as soon as possible. The longer we wait, the higher the interest will be.