What does the minimum repayment amount of China Merchants Bank mean?

Refers to the minimum repayment amount of a credit card, that is, the minimum amount to be repaid when using revolving credit, which is not less than 10% of the outstanding balance. The amount notified in the report shall prevail. If it is difficult for a credit card holder to repay all the payables before the due repayment date, he can make repayment according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 65438+ 00% of the consumption amount plus other payables.

According to the regulations of the central bank, the minimum monthly repayment amount of credit cards should be 10% and 10000 yuan. As long as you pay back at least 1000 yuan, your credit is good and the rest will be paid back next month. Don't snicker. From the day when 10000 consumption occurs to the day when it is paid off, the "unpaid part" pays five ten thousandths of the circulating interest every day.

1. How to pay the minimum repayment amount?

The minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date (inclusive), he can repay according to the minimum repayment amount stipulated by China Merchants Bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 65438+ 00% of the consumption amount plus other payables. The minimum repayment amount is listed on the current bill.

Minimum repayment amount = 65438+ 00% of the consumption amount within the credit line+65438+000% of the cash advance transaction amount+65438+000% of the unpaid part of the previous minimum repayment amount+65438+000% of the consumption amount exceeding the credit line+65438+000% of the expenses and interest.

Second, how to repay in installments?

After the successful application of China Merchants Bank's bill installment, there is no need to repay this month, only the remaining bill amount after deducting the bill installment amount before the due repayment date.

After that, the repayable principal of each installment of the bill = total installment principal ÷ number of installments. The principal payable in each installment (accurate to the minute) is credited to the cardholder's credit card account every month, and the balance is credited to the last installment.

Handling fee per installment = total installment amount × handling fee rate per installment, and the minimum handling fee per installment is 5 yuan.

For example, suppose that the current bill of your CMB credit card is 5,000 yuan, and only 4,750 yuan can be repaid in three installments, then you only need to repay 250 yuan this month. Then you need to pay back 4750/3+4750× 0.9% =1583.33+42.75 =1626.08 yuan every month, which can be paid back in three installments.