The calculation method of installment fee is: transaction amount × monthly rate × number of installments. The fee may be charged once a month or in the first installment, but the amount is the same. And with the increase of repayment amount, the money owed to the bank decreases, and the handling fee will not decrease with the repayment progress, which is different from the interest calculation method of bank loans.

Compared with the benchmark interest rate of 1 year loan of 6.3 1%, some cardholders think that the annualized installment fee rate of 6% is not high, but the actual fee paid after careful calculation is much higher than the loan interest in the same period. Take the consumption of 6000 yuan and one-year installment payment as an example. The required handling fee is: 6000×6% = 360 yuan. According to the standard of the bank's one-year benchmark interest rate, the monthly repayment adopts the average capital method, and the interest paid for the loan in one year is: 6000× 6.31%12× 65448. This shows that it is most cost-effective to use installment payment when the annual interest rate of consumer loans is greater than 1 1.08%.