How much is the installment fee for China Merchants Bank's credit card?

There is no interest on the credit card installment of China Merchants Bank, only the installment fee, and the rate of each installment fee is between 0%- 1.67%.

If a credit card is divided into installments, there is generally only an installment fee, and there is no interest. Only credit card overdraft consumption and cash withdrawal have interest.

The installment fee rate of China Merchants Bank's credit card is related to the number of installments. The longer the installment time, the lower the fee rate. At present, China Merchants Bank offers seven installments, namely, installment 2, installment 3, installment 6, installment 10, installment 12, installment 18 and installment 24, and the corresponding handling fees for each installment are 1.0%, 0.9%, 0.75% and 0.7 respectively.

Handling fee per installment = total installment principal × handling fee rate per installment corresponding to the number of installments. After the bill installment business application is successful, the handling fee will be credited to the RMB account of the credit card in installments. The repayable principal of each installment of the bill is equal to the total installment principal divided by the 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.

5,000 yuan will be repaid in installments. If the repayment is made in six installments, and the handling fee rate of each installment is 0.75%, then the handling fee of each installment = 5,000 * 0.75% = 37.5; The principal payable in each installment =5000/6=833.33 yuan; Total amount to be repaid in each period =37.5+833.33=870.83 yuan.

Extended data:

The installment payment handled by China Merchants Bank's credit card can be paid off in advance, but the service charge of China Merchants Bank's credit card installment payment is one-time, that is, when you choose installment payment, the first bill amount and installment fee are paid in one lump sum. There is a one-time handling fee, so even if you pay in advance later, you won't get a refund.

It should be noted that if interest is charged at one time when installment payment is made, the interest charged before prepayment will not be refunded. If the interest is charged monthly, then the interest after your prepayment will not be charged again. The specific amount can be consulted by China Merchants Bank Credit Card Customer Service.

The credit card installment method of China Merchants Bank is as follows:

1. Online banking application:

Cardholders can log in to China Merchants Bank's credit card online banking, click on the "installment financing" page online, enter "bill installment", enter the installment amount, select the installment number, wait for the bank's review, and the installment can be successfully completed.

2. Telephone application:

Cardholders can call China Merchants Bank Credit Card Customer Service Hotline at 400-820-5555. After the cardholder passes the identity verification, he can choose the appropriate installment amount and number according to the 708 bill installment hotline, and the installment is successful after the system is approved.

3. SMS application:

The cardholder edits the short message "AG# amount # issue number" and sends it to 1065795555 (mobile user) or106550201009555 (Unicom user). After the system application is approved, it can be successfully completed by stages.

Baidu encyclopedia-credit card installment payment