How to calculate the interest of China Merchants Bank's credit card withdrawal?

For China Merchants Bank credit cards, the interest on cash withdrawal is calculated according to 1500 yuan, because the cash withdrawal amount does not enjoy the interest-free period. For example, if you withdraw 1500 yuan cash from a credit card and repay it after 30 days, the handling fee is 1% = 15 yuan, and the interest is 1500 * 30 (days) *0.05%=22.5 yuan. In addition, your consumption amount of 8000 yuan enjoys an interest-free period.

China Merchants Bank will charge you a cash withdrawal fee and interest. ? China Merchants Bank's credit card withdrawal interest and handling fee are as follows:

1, credit card withdrawal interest of China Merchants Bank:

Withdrawal cannot be free of interest. From the date of withdrawal to the date of settlement, interest will be charged at the daily interest rate of 0.5 ‰, compounded monthly, and the handling fee will be charged according to the credit card charging standard of China Merchants Bank.

2. Credit card withdrawal fee of China Merchants Bank:

For domestic RMB cash withdrawal, the handling fee is calculated at 1% of each advance cash amount, with a minimum of 10 yuan; For cash withdrawal from overseas (including Hong Kong, Macao and Taiwan), the handling fee is calculated at 3% of each cash advance, and the minimum charge is 30 yuan RMB or US$ 3 for each cash advance.

Extended data

Credit card installment repayment of China Merchants Bank:

1, which provides cardholders with personalized choices of 1, 2, 3, 6, 10, 12, 18, 24, 36, and the single-period handling fee rate is 0% ~1.

2. If you apply for installment repayment after successfully handling the bill installment, the principal and handling fee of each installment shall be included in the RMB account of the cardholder's credit card. If you apply for deferred repayment, the due principal and the total handling fee will be included in the RMB account of the cardholder's credit card.

3. If you apply for repayment by installments, the principal payable for each installment = application amount ÷ number of installments. The principal payable for each installment (accurate to the minute) is credited to the cardholder's credit card RMB account every month, and the balance is credited to the last installment. Handling fee per period = application amount × handling fee rate per period. When applying for deferred repayment, the due principal = the applied amount, and the total handling fee = the applied amount × the total handling fee rate. Once the handling fee is collected, it will not be refunded.

References:

How much is the interest of China Merchants Bank-China Merchants Bank's credit card withdrawal?

References:

China merchants bank-credit card bill installment