For a long time, when financial institutions issue various loans to individuals, the interest rate display is generally "unclear and difficult to understand". To this end, the central bank recently issued a regulation policy of "indicating the annual interest rate of loans". Only a few days after the introduction of the new regulations, beijing business today reporter found in the survey that banks have begun to try to express the annual interest rate of credit card installment payment to consumers. This not only makes consumers have a clearer understanding of loan information, but also lays a foundation for effectively curbing "impulse consumption". It also makes clear that the phased annualized interest rate also puts forward higher requirements for bank users' stratification and risk pricing.
The bank clearly stated "annualized interest rate by stages", "misleading consumers because of false propaganda of high interest rate", "clearly informing the lender of the loan interest rate when lending" and "the bank violated my right to know the contract interest rate and the calculation method of the loan interest rate". In recent years, due to the vague display of service fee interest rate, banks often appear on the blacklist of complaints, most of which are about credit card installment payment business. In many complaints, consumers have mentioned that "the loan interest rate is not clear" and "the interest calculation method has not been clearly informed to customers". The main reason is that it is difficult for consumers to intuitively form the concept of "annual interest rate". In order to let consumers know the actual borrowing cost clearly, beijing business today reporter noticed today that recently, two large state-owned banks began to express the annualized interest rate of credit card installment payment.
Beijing business today today reporter recently found that from April/KLOC-0 to June 30th, China Construction Bank (HKD00939) launched "installment discount" for credit card consumers. During the activity, the cardholder successfully handled the installment payment and enjoyed a preferential interest rate of 30% (that is, 0.53% for the third installment, 0.49% for the sixth installment, 0.46% for the tenth installment, 0.42% for the twelfth installment, 0.42% for the eighteenth installment and 0.43% for the twenty-fourth installment). It is worth noting that China Construction Bank is also displaying the interface, showing that the third stage of "preferential" activities is 9.5 1%, 10.0 1%, level 6,10.91%and1. China Construction Bank said that the roughly converted annualized commission rate is the annualized rate after calculating the internal rate of return (the discount rate that makes the present value of future cash inflow equal to the present value of future cash outflow). It is not the commission/transaction volume ratio paid by consumers.
The actual amount of commission paid is still subject to the list. The calculation index of approximate conversion annualized processing rate usually exists in the contract and will not be displayed to the public, which is also the information that consumers have always ignored. Beijing business today reporter today learned from the customer service staff of China Construction Bank that "this indicator has always been there, but it has not been displayed." With more and more customers asking, it has been shown to consumers recently. "beijing business today today reporter found in the survey that China Industrial and Commercial Bank (0 1398) has also made this indicator clear to consumers recently. According to the screenshot of credit card repayment installment provided by credit card consumers, ICBC displays two indicators in the drop-down menu of consumer selection period, one is the processing rate, and the other is the approximate processing rate equivalent to the annual rate.