If ICBC pays the installment payment in full and on time according to the bill, it will charge no interest and only a handling fee.
From May 1 2022, ICBC launched a 40% discount on installment consumption and installment bills. Activities are limited, first come, first served. The actual charging rate is subject to the setting of each branch, except for special business of the branch.
The preferential interest rates are: 3 1.35%, 6/2.52%, 9/3.78%, 12, 4.32%, 18, 6.75%, 2413.39.
Tips:
1. Different credit card products will be different in different regions, and there will be marketing activities at different times, so the rates will also change. Please refer to the actual rate displayed in the system.
2. You can log in to mobile banking and handle the installment business through the function of "Credit Card-Installment Payment/Bill Installment". During the operation, the system will display the handling fee collection method and interest rate, and automatically calculate the handling fee you need to pay.
(Answer time: May 22, 2022. In case of business changes, please refer to the actual situation. )
How much is the installment interest of ICBC credit card?
ICBC credit card installment does not need to pay interest, but it needs to pay the corresponding handling fee.
The handling fee is calculated according to the total installment amount × installment rate, and the installment rate is different for different installments.
1, divided into three phases, and the handling fee rate is1.95%;
2. In six installments, the handling fee rate is 3.60%;
3. In nine installments, the handling fee rate is 5.40%;
4. When it is divided into 12 installments, the handling fee rate is 7.2%;
5. When it is divided into 18 installments, the handling fee rate is11.7%;
6. In 24 installments, the handling fee rate is 15.6%.
Note: The installment fee of ICBC's credit card may be different in different regions, and some regions will have preferential fees. The user will be prompted when applying for installment, subject to the page display.
Extended data
After the installment, if the installment is deducted, the repayment will be made in full and on time, and no interest will be charged, only the handling fee will be charged. Different installment amounts and different installments require different handling fees, which will be displayed on the application page. If you need to calculate the handling fee for the installment you need to apply for, please download ICBC e Life, select the credit card for installment business through the "Finance" page, enter the "installment payment" function, and select the number and amount of installments according to the prompts on the page.
Tips:
1. The handling fee will be recalculated according to the number of remaining periods;
2. If the installment transaction with installment fee is repaid in advance, the liquidated damages shall be paid.
Credit card is a credit certificate issued by commercial banks or credit card companies to qualified consumers.
The form of credit card is a card with the name of the issuing bank, expiration date, number, cardholder's name and other contents printed on the front. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.
How much is the installment interest of the bank credit card?
The interest rate of credit card installment payment may be different from bank to bank. Take four major behaviors as examples:
I. Industrial and Commercial Bank of China
The interest of ICBC's credit card installment payment is 0.9% for the third installment, 0.8% for the sixth installment, 2.7% for the ninth installment, 3.6% for the 12 installment, 5.4% for the 18 installment and 7.2% for the 24th installment.
Second, China Construction Bank.
If CCB pays by installment, it can be divided into three installments, six installments, 12 installment, 18 installment and 24 installments. Among them, except for the interest of the third installment, the interest of the sixth installment, 12 installment, 18 installment and 24 installment is calculated at 0.6% per installment.
Three. agricultural bank
If the credit card of Agricultural Bank of China is paid in installments, it can be divided into 3 installments, 6 installments, 9 installments, 12 installments and 24 installments. No matter how many credit card installments are made by ABC, the interest is calculated at 0.6% per installment.
4. Bank of China
China Bank's credit card installment payment can be divided into three installments, six installments, nine installments, 12 installment, 18 installment and 24 installment, in which the interest of the third installment is calculated at 1.95%, the interest of the sixth installment is calculated at 3.6%, and the interest of the ninth installment is calculated at1.
There are two ways to repay a loan: equal principal and interest and average capital.
1. Matching principal and interest Matching principal and interest Compared with the average capital, the total repayment interest is more, but the monthly repayment amount is the same, which can reduce the repayment pressure in the early stage. The interest of this loan interest-bearing method is calculated on the basis of the total principal. Although a part of the principal was paid back later, the calculation of interest did not decrease with the decrease of the principal. The calculation formula is as follows: [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months] ÷ repayment months [( 1+ monthly interest rate).
2. Although the repayment method in the average capital, the average capital has to pay more money in the early stage, and the overall interest paid is less than the equal principal and interest. Take mortgage as an example. If it is a house, it needs a loan of 200,000 yuan, which will be repaid in 20 years. If the calculation method of average capital is adopted, the interest will be reduced by about 654.38+500,000 yuan. The repayment method of average capital is to calculate interest according to your actual reduced principal, and the monthly repayment amount is reduced, and the principal in the monthly repayment remains unchanged. The specific calculation formula is as follows: monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
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.
References:
Credit card installment-Baidu Encyclopedia
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