How to calculate the minimum repayment interest of Guangfa Bank?

The minimum repayment interest of Guangfa Credit Card is the interest on the unpaid part plus the interest on all repayments from the consumption entry date to the repayment date. For example, if the consumption is booked on the 3rd and the repayment date is 26th, and the monthly consumption is 5,000 yuan, and the minimum repayment is paid back to 500 yuan, then the interest generated by all repayments this month is 5,000 * 23 * 0.05% = 57.5 yuan, and the interest generated by the unpaid part is (5,000-5).

Guangfa Credit Card is the first domestic standard credit card issued by Guangfa Bank 1995, and it is also the first credit card to achieve profitability. The credit limit of the card is preset according to international standards, and it is used for overdraft consumption and cash withdrawal transactions without pre-deposit.

The interest-free period of overdraft consumption can be as long as 50 days. As long as you repay in full before the repayment due date stipulated by the bank, you can enjoy interest-free treatment from the trading day to the repayment due date. The repayment method is flexible, you can pay off in full or choose the minimum repayment amount.

Minimum repayment amount

Annual fee of main card: Puka UnionPay card annual fee, 40 yuan Gold Card UnionPay card annual fee, 80 yuan.

Free annual fee policy: free annual fee in the first year, and free annual fee in the following year after swiping the card six times. The annual fee for MasterCard Titanium Card is charged to 480 yuan in the first year. From the first year, the annual fee for swiping the card can be 80,000 yuan, that is, the annual fee for the second half of the year is exempted.

Cash advance limit: 50% of the credit limit.

Interest-free period: 20 to 50 days.

Consumption verification method: signature+password

Revolving credit interest (daily interest): 0.05% interest is charged every day, with a minimum charge of 1 yuan.

Consumption SMS notification fee: 300 yuan and above are free, and SMS notification function is required in 300 yuan and below. The fee is 3 yuan per month.

The minimum repayment amount of a bank generally refers to a credit card. The calculation method of the interest on the minimum repayment amount of a bank credit card is: if all the debts listed in the statement are not paid off before the due repayment date, interest will be charged at 0.5 ‰ of the daily interest, and compound interest will be calculated on a monthly basis. From the transaction bookkeeping date, interest will be calculated according to the actual amount owed until all the debts are paid off.

Minimum repayment amount = consumption amount within the credit line × 10%+ cash advance transaction amount × 100%+ unpaid part of the previous minimum repayment amount × 100%+ consumption amount exceeding the credit line × 100%+ all expenses and interest ×/kloc-0.

Select the minimum repayment amount of bank credit card, charge interest at the rate of 0.05% per day, and compound interest every month until the cardholder pays off all credit card debts.

The first stage: amount (actual amount of credit card swiping) × interest rate (0.0005 per day )× time (days from the day of credit card swiping to the day before the minimum repayment);

The second stage: amount (remaining unpaid amount) × interest rate (0.0005 per day )× time (days from the date of minimum repayment to the day before repayment).