Is the interest rate of CCB's five-year installment high?
First of all, there is no interest in installment, and you only need to pay the handling fee monthly. No matter how many phases are divided, it is the implementation rate. However, each borrower's qualifications are different, and the rates are high and low. The specific rates can still be displayed on the application page.
If 654.38 million yuan is loaned in installments for five years, it is equivalent to 60 installments. According to the formula, the total handling fee = installment rate * principal * term = 654.38 million * 60,000 yuan, equivalent to handling fee of 654.38 million yuan. On the surface, it is not high, but it is only superficial interest.
After all, the installment fee will not decrease with the decrease of repayment principal. Even though the 59th installment has been paid off and the last installment has not been paid off, the handling fee for each installment is still in 500 yuan, so the actual rate is still quite high, and it is not as cheap as the interest on tooling.
How is it cost-effective for CCB to pass the 60 th period?
It is best to use it when there is demand and the interest rate is favorable. Judging from the history of installment interest rates, CCB often offers preferential interest rates, the lowest of which is marriage, childcare, settlement and so on, and you can apply.
In terms of time, compared with other credit products, the repayment pressure of 60 periods is still relatively small. However, after the installment, the loan will be collected in full. For example, if the installment is 654.38+ 10,000, then the credit card of 654.38+ 10,000 will be displayed on the credit. Don't use those with mortgage, car loan and credit card for the time being.
Is the five-year installment interest rate of CCB high? How to use the 60-stage installment of China Construction Bank? I hope it will help everyone.