The bank quietly raised the installment rate far beyond the

Many banks have emphasized the credit card “interest-free” and quietly raised the installment fee rate. The maximum rate for each bank is 1.5% per period, and the one-year rate far exceeds the benchmark interest rate for loans. A few days ago, Shanghai Pudong Development Bank said that the fee rate for credit card “free installment/bill instalment” will be raised from the highest 0.9% in each period to 1.5% from November 15. The “special installment” fee rate will be the highest per period. 0.46% was raised to 1%, and the “non-face-to-face installment” fee rate increased significantly from 1.52% per period to 4% per period. In fact, since last year, Industrial Bank, Banks, etc. have successively joined credit card installments to “finance the ranks”. At present, most bank credit card bills and single instalment business periods are available in Phase 1, Phase 3, Phase 6, Phase 9, Phase 12, Phase 18, Phase 24 and Phase 36. The monthly fee rate is slightly different. Among them, the rates from 6 to 12 are generally between 0.06% and 0.88% per period. Xiaobian calculated an account, taking 12000 principal as an example. The credit card is repaid in 12 installments. According to a state-owned bank rate of 0.73%, the cardholder needs to pay 8.76% (0.73%×12) of the principal at one time. The rate, which is 1051.2, is 2051.2 in the first month. If the repayment is made in advance, the handling fee will not be refunded; if the personal loan is selected, the current one-year lending rate of many banks is around 5%, and only a small amount of liquidated damages will be charged in advance. In contrast, the credit card installment rate is even higher than the loan interest rate of 75.2%. On the surface, choosing installment repayment is used to reduce stress. However, under the budget, the installment fee actually increases the user's consumption cost. "How many times the central bank cut interest rates, how can the installment fee not fall?" Many users are puzzled. Hua Ming, a credit card analyst at the Banking Financial Research Center, believes that the reason why banks have the incentive to adjust the credit card installment fee is because even if the rate increases, there will still be a large number of cardholders using credit card installment services. "This service has its own The advantages, such as the speed of processing, etc. The bank believes that the benefits will be higher than the increase in the rate of a small number of users." A financial planner in a joint-stock bank in the provincial capital also believes that " "Break spread" is an important source of the bank. During the year, the central bank cut interest rates five times, and this part of the profit space was reduced. The bank had to "try another way out" and explore various intermediate businesses for profit. How can we avoid the "staging trap"? Industry insiders remind: First, users should choose banks with lower rates; second, try to choose shorter instalments, because the longer the period, the higher the cost. However, some banks limit the number of installments to more than six issues; third, try to avoid early repayments, most banks require credit card installments to be repaid in advance, installment fees are collected; finally, banks sometimes introduce credit card installment fee reductions. Participation in such activities can save on installment costs.