Calculation of installment interest rate: principal payable in each installment of consumption installment = total principal of consumption installment ÷ number of installments; Handling fee for each period = principal payable for each period × handling fee rate for each period; Billing fee for each period = principal payable for each period × monthly installment fee rate for the corresponding period; The number of installments that can be applied for is 3, 6, 9, 12, 18, 24 and 36; Once the installment application is successful, it is irrevocable. Even if the installment is terminated early, the handling fee for each installment will still be charged. The installment rate of different banks is different, so you can calculate it according to the specific situation.
1. Credit card installment cannot be paid off in advance at one time: once the cardholder starts to repay by installment, once the installment number and amount are determined, there is no way to change it. If the cardholder has enough spare money, he can repay in advance and wants to repay in advance. However, it should be noted that there is still a corresponding handling fee for prepayment, including installment and non-installment. After the credit card is paid off in advance by installments, the credit limit of your credit card will be restored to the original fixed limit, and you don't have to worry about overdue repayment, but the handling fee will still be fully borne; How to pay off the credit card in installments: If the credit card installment business needs to be paid off in advance, the cardholder can contact the customer service staff of the bank to apply, and the bank reserves the right to approve the application. Once the application is approved, the cardholder can return the undivided principal to the credit card together with the installment fee. If you don't contact customer service in advance, even if you deposit all the money into your account, the system will not automatically deduct the money.
2. The consequences of not paying back the installment loan at maturity are as follows: overdue installment will generate late payment fees, and installment bills will charge 1% of the bill amount as late payment fees every day; Non-installment bills will charge a late fee of two thousandths of the bill amount every day; After the deadline, I will receive a call for installment music every day. If the quantity is large, there will be door-to-door collection; After the installment music is overdue, personal credit information will have a bad record, which will affect the loan application on other platforms in the future; If you don't return the staging platform, your personal property will be frozen and kept. If the platform wins the case, the borrower has to pay off all the debts and pay the litigation fees. If the circumstances are serious, he will also bear corresponding legal responsibilities.
Don't be cheated again, the formula for calculating the annual interest rate of installment loans
The calculation formula of installment interest: interest rate, number of installments 24/ number of installments 1. For example, Ping An Pratt & Whitney Loan has a monthly interest rate of 6% and the formula is 0.61224/13 =13.29%. For example, the installment interest rate of ICBC's credit card is 0.7 12 months, and the interest rate is 0.71224/13 =15.51%.
Speaking of installment payment, if you want to know the annual interest rate, please apply the above formula and never be fooled by financial institutions again.
The daily interest rate of ants is 14000 yuan, up to 26%, and the daily interest rate of micro-loans is 22000 yuan, 13%.
How many people are cheated because they can't calculate the interest on installment payment? The principal they hold is decreasing every month, but the rate remains the same. For example, at the beginning of the month, they borrowed 1.2 million from the bank and paid 1 million every month. In the last month, they only owed the bank 1 ten thousand yuan, and the bank still calculated the interest according to1.20 thousand yuan. In fact, the borrower lost a lot.
I don't know who invented this thing, but all financial institutions are using it. Most people want to take a loan and finally return it to the bank with interest at one time, so that the principal can always be held in their hands. Banks don't do that. They let you pay in installments.
You deposit your money in the bank, and the principal will be kept for one year. Finally, the bank will give you the money with interest, so that the bank will keep your principal for one year and give you 4% interest, and you will lose a lot.
No one can play bank. On the issue of money, individuals occasionally suffer. Banks never lose money and never do business at a loss.
The poor worked hard to deposit the money they earned in the bank for one year, with low interest. Banks lend money to the rich at high interest rates and ask them to repay it in installments. The rich take money to open factories, and then hire the poor to work and pay the poor. The poor get paid, continue to deposit in the bank, and the bank continues to lend. The poor work every day and find that prices are rising faster than wages. When the salary has risen to 10 thousand, I found that the house price has risen to 30 thousand. The rich invest the money they earn, such as buying a house. Now, what they bought with 1 10,000 yuan has gone up by 30,000 yuan. Qian Shengqian is much faster than working hard. Then the rich use the money earned from buying a house to continue investing, such as fixed investment and compound interest. 10 years later,100000 became100000, and it is still rising. Rich people can have financial freedom, their assets will automatically increase in value, and they don't have to go to work. Passive income has been greater than monthly expenditure. For example, the landlord in Shenzhen looks at the electricity meter on the 28th, collects the rent on the 30th, and plays mahjong the rest of the time, so he can earn money by sleeping every day. Poor people go to work, 65,438+10,000 a year. If they don't go to work that day, they have no income. Once they retire, their retirement salary is only 35% of the incumbent. Poor people work all their lives to pay bills, earn wages and then spend. Once there is no salary, they will fall into panic and become slaves of money. The rich want to trade BMW for Bentley, and the poor want to trade Jetta for electric cars. The gap is widening.
There are descriptions of the rich and the poor in A Brief History of Mankind. In ancient times, the stronger the body, the easier it was to survive. In modern society, smart people often occupy social resources, while powerful people often become the bottom of society.
Which is more valuable, an excellent entrepreneur or 10,000 employees in the factory? For example, 10 thousand couriers can't be a big company no matter how hard they try. Without Ma Yun's command, the following people can't do Taobao no matter how busy they are.
The ancients said that three heads are better than one, but it is not necessarily true. For example, Chairman Mao put forward the theory of protracted war. Without this theory, the China Revolution would not know where to go. For example, Deng Xiaoping put forward the policy of reform and opening up. Without this policy, China wouldn't know what it would be like today.
In the past, our education was to create history for the people, but in universities, teachers said that the development of society was created by elites, and all social services were to meet the needs of elites first and then spread to the public. Think about airplanes, which used to be used by rich people and gradually spread to ordinary people. How can ordinary people afford old mobile phones?
I have to admit that in the long history, most ordinary people are people who eat melons. Look at the historical records, it is not ordinary people who can go to the history books, and it is not ordinary people who can write the history books. In ancient times, most ordinary people were illiterate and could not write at all.
CCTV used to have a program called Win in China, with many guests including Ma Yun, Liu Chuanzhi and Shi Yuzhu. A guest said something that shocked China. Whether studying or starting a business, everything is not as good as being born. A person's temperament, appearance and speaking culture are closely related to family. For example, those rich children in my primary school are still living well, and those who suffered in primary school are still suffering. ......
Of course, there are also good ones, such as Brother Wu, who is now rich, has a good personality and has many opportunities. God bless him. Heaven rewards diligence. For example, I was poor when I was young, but I didn't give in to fate, so now I have the opportunity to read a lot of books, go to many places and write some articles when I am free. Don't work hard, still herding sheep at home.
When God closes a door for you, he will also open a window for you.
How to calculate the installment interest rate of credit card?
Annual interest rate = installment fee rate/(number of installments 1)24= single installment fee rate/(number of installments 1)24, and the most common installment fee of 12 is 7.2/( 12 1) 24 = 6544.
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 0.0358/1324 = 0.06609 = 6.665438 in installments. The down payment is 0.0358/1324/(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
The nominal interest rate is relatively simple and does not need to be calculated at all. For example, if you spend a sum of 6,000 yuan on your credit card and want to repay it in installments of 12, the bank tells you that the handling fee rate of each installment is 0.6%, so the annual interest rate is 0.6 12=7.2%, and then you need to share the principal of 6,00012 = 6 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%.
How to calculate the installment rate of credit card?
1. At present, there are two ways to collect the handling fee (interest) by installments. One is better for consumers, charging 0.5% per period, that is, 40,000.5% 4,000/12 = the amount to be repaid every month; Another way is good for banks, such as 6% interest rate and full payment of 40006% in the first month. After that, only 4000/ 12 of the principal will be repaid every month.
Step 2 pay by credit card
(1) Credit card installment payment refers to the process that when a cardholder uses a credit card to make a large amount of consumption, the bank pays the consumer funds of the goods (or services) purchased by the cardholder to the merchant in one lump sum, and then the cardholder repays the money to the bank in installments and pays the handling fee. According to the cardholder's application, the bank deducts the consumption funds and handling fees by stages through the cardholder's credit card account, and the cardholder repays according to the monthly recorded amount.
(2) Handling fee: Generally speaking, the handling fee for credit card installment payment 1 year is lower than the annual cash withdrawal interest 18% and higher than the commercial loan interest of banks by 5.3 1%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times since last year, but the standards of credit card installment fees and cash withdrawal interest have rarely changed. Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.
(3) Advantages:
Enjoy first, then pay.
Without a guarantor, the procedure is simple.
Fixed time and easy payment.
Free of payment and monthly repayment.
More room to choose payment methods.
How to calculate the interest on installment payment?
The analysis can be performed as follows:
1, there is no interest on mobile phone installment, and it is not allowed. Generally speaking, about 5~6% of the total amount is the so-called handling fee. According to different shops, each period varies from 1% to 4.5% according to the length of the staging.
2. Pay the handling fee every month. The calculation method is: transaction amount x (1 ~ 4.5)% transaction amount ÷ number of periods = monthly payment amount.
3. Generally, the actual payment for buying a mobile phone by installment is about 500 to 600 higher than the price of the mobile phone.
Extended data
1. The installment repayment of the bank is a installment repayment business launched to avoid default interest according to the total consumption limit when the customer cannot repay the overdraft amount of the credit card at one time.
2. Compared with installment payment, installment payment is different in application procedure and application scope. For example, if Xiao Li wants to buy a mobile phone by stages, he will go to a store that cooperates with a credit card. The installment repayment business does not need to specify the place and category of consumption. If the customer realizes that he can't repay in full on time after swiping the card, he can call to apply. However, it should be noted that the handling fee for installment repayment is higher, which is generally higher than the commercial loan interest rate in the same period.
How to calculate the installment fee
Installment fee = installment amount x monthly installment interest rate x installment number.
1. 1. Credit card installment fee (that is, installment fee for consumption). The installment fee for consumption is a fixed fee. Even if the payment for consumption is paid off in advance, the borrower still has to settle the installment fee.
2. Loan interest is the cost of borrowing. This fee is calculated at the interest rate. If the borrower pays off the loan in advance, the interest will be settled to the prepayment date.
Second, the interest calculation method
1. The interest of credit card installment is calculated according to the sum of the repaid principal and the principal to be repaid.
2. Interest is calculated and collected from the unpaid principal, which is mainly used for bank loans. Almost all banks have set a penalty for consuming installment products, and prepayment is only the settlement of installment loans on the credit report, but the installment fee is still charged in full. Therefore, the longer the installment time is, the earlier the prepayment time is, and the lower the annualized interest rate of prepayment is just an illusion in credit card installment.
Third, the installment fees of major banks! First of all, let's look at the four giants:
1, Bank of China
3, 6, 9, 12, 18, 24.
1.95%3.60%5.40%7.20% 1 1.70% 15.00%
2. China Construction Bank Phase III, Phase VI, Phase IX, Phase 12, Phase 18 and Phase 24.
2.60%4.20%—7.20% 1 1.00% 15.00%
3. China Agricultural Bank Phase III, Phase VI, Phase IX, Phase 12, Phase 18 and Phase 24.
1.80%3.60%5.40%7.20% 10.80% 14.40%
4. ICBC Phase III, Phase VI and Phase IX 12 18 24.
1.65%3.60%5.40%7.20% 1 1.70% 15.60%
This is the end of the introduction on how to calculate the loan installment interest rate and what the loan installment interest rate means. I wonder if you have found the information you need?