How much is the interest rate on Huabei?

Huabei interest calculation: Based on the period after the bill date (3 days, 7 days, 15 days, 30 days), it is calculated based on the annualized interest rate of 16.43%, that is, interest = current repayment amount × 0.045% × Days Overdue. The longer the overdue period, the higher the interest rate.

Huabei interest calculation

The calculation method of Huabei interest is as follows:

• Repayment period: Subject to the bill date, divided into 4 periods: 3 days, 7 days, 15 days and 30 days.
• Interest rate: 0.045% per day, which translates into an annualized interest rate of approximately 16.43%.

• Interest calculation:

  • Current repayment amount Interest rate Number of overdue days

Specific calculation example:

Assume that the bill date is July 1st and the consumption amount is 1,000 yuan.

• Option 1: Pay off after 3 days

  • Interest = 1000 0.045% 3 = 0.135 yuan

• Option 2: Pay off after 7 days

  • Interest = 1000 0.045% 7 = 0.315 yuan

• Option 3: Pay off after 15 days

  • Interest = 1000 0.045% 15 = 0.675 yuan

• ##Option 4: Pay off after 30 days

  Interest = 1000
  • 0.045% 30 = 1.35 yuan

It should be noted that the above Interest calculation only applies to bills with an amount within 5,000 yuan. When the bill amount exceeds 5,000 yuan, the interest rate will rise appropriately.

Conclusion:

The calculation method of Huabei interest is relatively simple and is determined by the bill amount, interest rate and overdue days. The amount of interest under different repayment terms is different. The longer the overdue period, the higher the interest.

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