ICBC 12 will charge 3.58% handling fee in installments, and the annualized interest rate is 6.6 1%, which is equivalent to 1 multiple of the one-year loan benchmark interest rate of 6.0%, and will charge 0.0358/13 * 24 = 0.06609 = 6.6655 in installments. The down payment is 0.0358/13 * 24/(1-0.0358) = 0.06854 = 6.85%.
In this case, each bank has different charging standards (high or low), different charging methods (installment or lump-sum payment) and different charging categories (consumption installment, bill installment, credit card mall installment or physical mall installment). Specifically, you should go to the credit card websites of major banks, or call the customer service of the credit card center to explain it to you in detail.
This is divided into nominal interest rate and real interest rate.
nominal interest rate
Nominal interest rates are relatively simple. There is no need to calculate at all. Suppose you spend 6000 yuan on your credit card and want to repay it in 65,438+02 installments. The bank tells you that the handling fee rate of each period is 0.6%, so the annual interest rate is 0.6 * 12 = 7.2%, so you need to pay back the principal of 6000-65438 every month.
Of course, in addition to the phased fees, there is also a one-time fee, which will take the first place compared with the analysis fee, but the first phase needs to return all the fees at one time, which is suitable for your own decision.
actual interest rate
After reading the above example, do you feel that something is wrong? Obviously, the principal owed is getting less and less, but you still have to pay interest according to the total amount. By the way, this is a math game. To know the interest rate you pay for each penny, you must introduce a concept, the real interest rate.
It's complicated to say. Fortunately, excel and wps both provide internal formulas for us to use. Let me teach you how to calculate the real interest rate with a formula.
It's still 6000 yuan, divided into 12 installments, and the rate of each installment is 0.6%. The first line, the principal is 6000, and the second to thirteenth lines, the monthly repayment is 436. Note that because the repayment and the loan principal are opposite, we need to enter -436, and then on the fourteenth line, click the formula in the menu bar, select IRR function, and select the first line to the thirtieth line. You can get the monthly real interest rate 1.0862%, and then multiply it by 12 months, which is the annual real interest rate 13.03%.