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 information 1. Bank's installment repayment is an installment repayment business launched to avoid penalty interest according to the total consumption limit when customers can't repay the overdraft amount of credit cards 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.