How to calculate the overdue interest of ICBC's credit card?
the overdue interest of ICBC's credit card is the overdue fine. The overdue fine refers to a certain percentage of overdue payment for failing to pay taxes or repay loans according to the repayment period. It is a measure for tax authorities or creditors to give economic sanctions to overdue parties. The proportion of overdue fine shall be uniformly stipulated by the People's Bank of China, which is 5% of the unpaid part of the minimum repayment amount. Take ICBC credit card as an example to illustrate the calculation of late payment fee. It is stipulated that the overdue fine shall be 5% of the unpaid part of the minimum repayment amount, with the minimum 1 yuan RMB. It should be noted that the base of the late payment fee is the unpaid part of the minimum repayment amount. \ ICBC credit card late payment fee calculation formula: late payment fee = (minimum repayment amount-paid amount by due repayment date) ×5%. \ For example, if the user spends 1, yuan by swiping the card, and the minimum repayment amount is 1 yuan, and no repayment is made before the due repayment date, the credit card late fee charged is: 15%=5 yuan. \ For more information about how to calculate overdue interest on ICBC credit cards, go to: See more
ICBC credit card owes 5, yuan, how much interest will it generate in one month?
one month will generate overdue interest, 75 yuan.
Calculation process:
It is known that the overdue interest is .5% and the debt is 5, yuan.
according to the interest calculation formula: interest = principal × interest rate× deposit period.
one month will generate overdue interest =5×.5%×3=75 yuan.
Extended information
Impact of overdue repayment of ICBC credit cards
1. If it is a quasi-credit card, the maximum overdraft period is 6 days. If it is not returned after 6 days, it will be considered overdue;
2. If a credit card fails to repay the minimum repayment amount before the due repayment date (inclusive), it will be regarded as overdue, and the overdue will generate corresponding liquidated damages in addition to interest (liquidated damages = unpaid portion of the minimum repayment amount ×5%).
users are advised to repay in time or sign an automatic repayment agreement before the repayment date to avoid affecting personal credit. Xiao Zhi reminds you: 1. If it is difficult to repay at present, users can repay the minimum repayment amount first or apply for installment payment.