How to calculate the credit card interest of CITIC Bank?

Interest is calculated on a daily basis, with five ten thousandths of a day and compound interest is calculated on a monthly basis. If the total interest on bill settlement is less than or equal to 0.02 yuan, it will be exempted. Total interest > 0.02 yuan < 1 yuan, charged at 1 yuan; When the total interest is ≥ 1 yuan, it will be charged according to the actual settlement amount; For cash withdrawal by credit card, the total amount of cash withdrawal principal and handling fee × daily interest is 0.0005× (days from the date of cash withdrawal to the day before the total amount is paid off). Withdrawal of interest will generate compound interest when it is settled on the billing date. In case of multiple withdrawals, the total interest is the sum of all individual interests; The excess deposit amount is cashed out, and interest is charged according to the actual amount owed (overdraft amount) after being recorded.

The credit card interest of CITIC Bank is calculated as follows:

1. Interest-free: CITIC Bank charges credit cards, and repays interest-free during the interest-free period.

2. Interest on cash withdrawal: the cardholder uses the credit card to overdraw cash withdrawal, and the interest is calculated at the rate of 0.5 ‰ per day from the time of withdrawal to the time of repayment.

3. Minimum repayment interest: the cardholder chooses the minimum repayment, and the interest to be paid is the unpaid amount x interest rate (0.0005)x time. For example, if the cardholder needs to repay 10000 yuan, choose the minimum repayment 1000 yuan, and pay in full after 10. The interest is 9000×0.0005× 10 = 45 yuan.

4. Overdue: If the credit card is overdue, CITIC Bank will calculate the penalty interest at 5% of the unpaid minimum repayment amount, and at the same time charge interest at 5/10000.

The basic formula of interest calculation: simple interest = principal × interest rate × deposit period;

Commonly used simple interest calculation formula: interest = principal× annual interest rate× year = principal× monthly interest rate× month = principal× days× monthly interest rate ÷30= sum of interest-bearing products × daily interest rate ÷30= sum of interest-bearing products × daily interest rate.

The interest rate of time deposit of CITIC Bank is as follows:

1, three-month lump-sum deposit and withdrawal interest rate 1.4%, half-year deposit interest rate 1.65%, one-year interest rate 1.95%, two-year interest rate 2.4%, three-year interest rate 3% and five-year interest rate 3%.

2. One-year deposit interest rate 1.4%, three-year interest rate 1.65% and five-year interest rate 1.65%.

3. The interest rate of call deposit is 0.55% for one day and 1. 1% for seven days.

China CITIC Bank v7.4.3