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Many banks push large credit cards with cash withdrawals up to 500,000
Editor: Youth DailySource: Youth DailyDate: 2013-05-27

Summary:

According to "Youth Daily" report, recently, the reporter was attracted by an unsecured loan advertisement of Hua Xia Bank. He said that "no guarantee, no mortgage, no interest, only 7.5 percent of the monthly processing fee.
                According to "Youth Daily" report, recently, the reporter was taken by a Huaxia Bank.Unsecured loansThe advertisements attracted, they said, “no guarantee, no mortgage, no interest, only 7.5 per thousand of the monthly processing fee, but now they can apply for free account management fees with a maximum loan amount of 500,000 yuan.” They can only be informed after consultation. This is actually a credit card. The reporter consulted most of the banks and found that personal credit loans are now difficult to handle, and instead they areBig credit card. "The only way to cash in to a bonded debit card is to withdraw cash, and you can't consume it. The monthly instalment fee is 0.75%. No mortgage guarantee is required, as long as you provide a personal ID, proof of work, and proof of income. Can apply."

The monthly fees for these large-value credit cards seem very tempting, but one credit card industry source revealed that the actual cost is actually very high. The person had calculated an account. If the loan was 10,000 yuan, it would be returned in 12 installments and the fee was 0.85%. The principal to be returned every month is 833.3 yuan, the monthly fee is 85 yuan, and 1 million yuan to reimburse the total 1020 yuan. The monthly actual occupancy of funds decreases month by month, and the average occupancy fund is calculated to be 5,146.65 yuan according to the median of the arithmetic series. The calculated annual interest rate is 18.83%. “The monthly handling fee is equal to the total installment principal amount multiplied by the monthly rate, and the less the balance of the late loan, the less the reimbursement fee. This kind of interest rate is much higher than the average personal credit loan.”

The reporter willHua Xia Bank Yi Da JinThe comparison between the credit card and other ordinary credit cards of the bank found that the installment fee for ordinary credit cards was between 0.62% and 0.67%.

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