How to repay in installments, how to repay in installments on credit cards

Usually there are two ways to repay the loan, one is called: equal principal Equal principal loan calculation formula: monthly repayment amount = (loan principal number of repayment months) + (principal - cumulative amount of repaid principal) monthly interest rate One is called:

Equal principal and interest is the repayment of the same amount of loan (including principal and interest) every month during the repayment period. Monthly repayment amount = loan principal Monthly interest rate (1 month interest rate) Number of repayment months 1 month interest rate) Number of repayment months 1 Characteristics of the equal principal and interest repayment method: The disadvantage of the equal principal repayment method is that there is more interest on the expense, and the interest at the beginning of repayment accounts for most of the monthly payment, and the proportion of principal in the contribution increases as the principal is gradually returned.

However, this method has a fixed monthly repayment amount, which can control the expenditure of household income in a planned way, and also facilitate each family to determine the repayment ability according to their own income. Characteristics of the equal principal repayment method: Since the monthly repayment principal amount is fixed and the interest is decreasing, the lender is under greater pressure to repay at first, but the monthly repayment amount is also less and less over time.

If the instalment repayment is not executed or within the withdrawal period specified by the bank. You can directly hit ** or look at the operation to cancel the installment.

If the installment has already been executed, it cannot be cancelled and you can choose to repay the loan early, but the early repayment cannot save the handling fee. How:

Installment early repayment.

The unamortized principal and handling fee of the cardholder's installment payment will be fully credited to the cardholder's current bill at the end of the date of application for early repayment, and the full amount will be included in the minimum repayment amount, and will not be amortized on subsequent statement dates.

Take China Merchants Bank credit card as an example

China Merchants Bank Credit Card Bill Installment Application Requirements:

1. Bill installment application time.

From the transaction date to the repayment date, you can freely choose to instalment transactions under your RMB or USD account.

For transactions that have not been billed: Installment can be applied for between the date of the transaction and 19:30 on the statement date of the corresponding bill.

For bills that have already been issued: You can apply for installments between the day after the bill date and the due date for repayment (for customers whose accounts are set up for automatic repayment, the application deadline is 17:00 on the due date).

2. Bill installment application conditions.

Applicants must hold a China Merchants Bank credit card, personal card, principal card, good card usage record and current repayment without delay. Customers who only have a Business, Business, Purchasing, ANA Guarantee or Additional Card are not eligible to apply for Bill Instalment.

3. The amount of bill installment application.

Apply for RMB bill installment, with a minimum application amount of not less than RMB 300 per application; Apply for USD bill instalments, with a minimum amount of USD 100 per application. After successfully applying for RMB or USD bill instalment, the principal and handling fee of each instalment will be credited to the RMB account, that is, the USD bill instalment amount will be converted into RMB according to the exchange rate specified at the time of application.

There are several ways to repay your credit card in installments:

1. Repayment at outlets:

Cardholders can bring their ID card and credit card to the counter of the card issuer branch, apply to the staff for repayment, and then deposit cash into the credit card according to the prompts to repay.

2. ATM repayment:

Cardholders can bring their credit card to the ATM, insert the credit card as prompted, and then select the deposit operation according to the prompts on the interface, deposit the current outstanding amount into the credit card, and wait for the system to transfer the money.

3. Automatic repayment:

Cardholders can install the card issuer app on their mobile phones, find "Credit Card" after entering the app, select the "Auto Repayment" option, enter the auto-repayment page, and then bind the repayment credit card to the savings card, sign an auto-repayment agreement, and the payment can be automatically deducted when it expires.

If your credit card is overdue and you need to negotiate installments, you can negotiate with the collector. If you can't reach an agreement, you can also call the bank's customer service staff and apply again.

Banks generally offer an interest-free repayment period of 20-50 days, and the repayment due date is 20 days after the statement date, so the repayment should be processed before the due date.

Credit Card Repayment Methods:

1. Online bank transfer: Log in to the online banking and transfer and repay the loan through the bank debit card, credit card, current pass or current savings account under your name.

2. Mobile banking transfer: Open mobile banking and easily complete transfer and repayment anytime and anywhere.

3. Bank self-service terminal repayment: You can use self-service equipment such as deposit and withdrawal machine (CDM) or automatic teller machine (ATM) to transfer and repay your credit card; You can also use cash to make self-service repayments through the Deposit and Withdrawal Machine (CDM).

4. Counter repayment: Cash repayment at the counter of bank outlets or transfer repayment to the credit card account through the debit card, credit card, current pass or current savings account.

Cardholders need to call the card issuer 2 to 3 days before the repayment date to apply, and the amount and number of installments to apply for can be selected. However, although this repayment method is interest-free, it requires a certain percentage of the processing fee. After choosing to repay in installments, you must still ensure that you repay the loan on time and in full every month, and generally missing the repayment period will cause overdue and lead to bad credit history.

In addition, if you want to repay the loan early, you must make up the handling fee. Note: From the perspective of rates, credit card installment payments are not cost-effective at present, so consumers who have the ability to repay should try not to choose installment payments.

After the installment application is successful, the current installment amount and handling fee will be credited to each instalment, as long as this part is repaid before the due date of repayment.

The installment repayment business of bank loans generally needs to be handled at the counter of bank outlets, and the specific repayment modes are:

1. Equal principal and interest repayment: rough bridge.

Equal principal and interest repayment is to divide the principal and total interest of the bank loan into equal amounts according to the repayment period, and the repayment amount is the same every month. Hail brightly.

2. Equal principal repayment:

Equal principal repayment means that the principal amount of each instalment is the same, and the interest of each instalment will decrease with the decrease of the principal amount. However, the principal and interest paid in the early stage are more, and the repayment pressure is greater.