Industrial Bank’s revolving credit interest rate follows the unified regulations of the People’s Bank of China, with a daily interest rate of 5/10,000 and compound interest calculated on a monthly basis. Banks will compound credit card interest on a monthly basis, that is, they will add the principal and interest from the previous month and then calculate the interest for the next month. This is accumulated in the future.
The interest on Industrial Bank’s revolving credit is calculated as follows: principal × 50,000 (interest) × number of days A (the number of days from the consumption date to the repayment date of the current period) (principal - amount repaid )×five ten thousandths (interest)×number of days B (the number of days from the current payment date to the next bill date).
The number of bill installments and corresponding handling fee standards are as follows:
1. A one-time handling fee of 2.55 will be charged for 3 installments or a handling fee of 0.85 per installment will be charged;
2. A one-time handling fee of 4.20 will be charged for 6 installments or a one-time charge of 0.75/issue;
3. A one-time handling fee of 8.40 will be charged for 12 installments or a one-time charge of 0.75/issue;
4. A one-time handling fee of 12.60 will be charged for 18 installments or a one-time charge of 0.75 per installment;
5. A one-time handling fee of 16.80 will be charged for 24 installments or a one-time charge of 0.75 per installment.
Extended information:
The following transaction amounts cannot be applied for bill installment payment:
1. Cash withdrawal transactions, transfer transactions, foreign exchange purchase transactions, installment transactions and other fees (such as annual fees, interest, late fees, over-limit fees and other credit card charges);
2. Unbilled consumer transactions;
3. Some laws, regulations and supervision The institution prohibits or restricts installment transactions;
4. Other contents stipulated by the Bank's Credit Card Center.
Industrial Bank - Terms and Conditions of Bill Installment Payment Business
Industrial Bank - Credit Card Terms and Conditions