What is the concept of a single period rate

Generally speaking, the credit card installment business does not need to pay interest, but it needs to pay the installment fee to the bank, and the installment rate is the specific charging standard of the handling fee. The installment rate standard needs to be confirmed when applying for installment with the card-issuing bank, and some banks charge a one-time handling fee, so the installment rate is the standard of the total installment fee; Some banks charge a handling fee per installment, so the installment rate is a monthly handling fee.

Credit cards are a kind of experience that allows consumers to get "spend first, repay later", and when credit cards repay after consumption, there are a variety of repayment options, such as installment repayment, minimum repayment, etc. So what are the benefits and disadvantages of choosing to repay a credit card in installments?

Pros:1Ease the pressure of repayment.

After applying for credit card installment business, it can help cardholders repay their current repayment pressure and reduce the repayment amount. When the monthly bill is too high and exceeds the repayment budget, the bill can be spread over to each subsequent month, and the cardholder's repayment pressure will be reduced.

2.It is beneficial for credit cards to increase their limits. Credit card business banks mainly make money through the interest, annual fees, handling fees, etc. they generate, and when cardholders choose to apply for credit card installments, there will be a handling fee, and installment repayment makes the bank profitable.

Of course, the bank does not want the cardholder to apply for the installment every time, and the bank will quickly approve the application when submitting the application for limit increase to the bank after the installment is processed.

3.Credit card instalment offer. Banks will have a variety of preferential activities to launch, including credit card bill installment repayment activities, cardholders can apply for installment repayment during the event, you can reduce a certain amount of interest or handling fees, very cost-effective.

Cons: 4Installment fee.

After the cardholder applies for the installment repayment of the credit card bill, the bank will charge a certain handling fee, and the charging standard of different banks is different. The longer the installment period for credit card repayment, the higher the handling fee. In addition, the instalment repayment fee will not be waived, and early repayment will also be deducted.

5.Reduced available credits. The credit card limit is generally fixed, and sometimes there is a temporary credit limit for gifts. After the cardholder chooses the credit card installment, the amount of flexible use will be reduced, so it will affect the subsequent purchase.

6.It is easy to over-consume. After the credit card installment repayment, the large consumption of this month will be spread to each month, and each month chooses to repay in installments, then the cumulative repayment amount will be more and more, which will give people a kind of repayment that can be repaid no matter how large the amount of consumption, anyway, only need to repay a little after the installment repayment.

Therefore, the risk of credit card overdue increases after the credit card is repaid in installments.

To sum up, there are good and bad credit card installment repayments, it is worth noting that when credit cards are repaid in installments, there will also be an installment limit, and different banks have different limits.

It is the amount of money in each installment multiplied by 0.75 percent.

1. The single-period rate refers to the interest to be paid in installments in bank loans, which is multiplied by the single-period rate for each installment. For example, if the single-period rate is, then if you have to repay 10,000 yuan in each period, the interest to be paid is 75 yuan.

2. The single-term rate refers to the rate standard stipulated on the basis of the annual rate in order to meet the needs of short-term loans with a term of less than one year. If the loan term is less than one year or the borrower requests to surrender the insurance in the middle of the loan, the lender will charge or refund the short-term fee according to the regulations. If it is less than one month, it will be counted as one month, not on a daily basis.