Overdraft means that your assets are negative, but you don't have to pay interest. For example, credit cards can be overdrawn and repaid interest-free within a certain period of time.
A loan refers to borrowing a certain amount of money from a lender, and the interest is calculated from the date of the loan. Such as mortgage loan, etc.
What is the difference between CCB installment loan and credit card overdraft? The answer turned out to be simple.
No matter banks or other financial institutions, they will provide users with some installment loan services. In particular, banks, as the leaders of financial institutions, have been launching different loan products to meet the loan needs of many borrowers. What is the difference between CCB installment loan and credit card overdraft? The answer turned out to be simple!
What is the difference between CCB installment loan and credit card overdraft?
The installment loan of CCB, like the credit card, is a credit product, but the difference between them is quite big.
First look at the purpose of consumption. The consumption purposes of CCB installment loans are very changeable, which can be used for car purchase, car purchase, tourism, medical care, education and so on. , and it belongs to cash loan products. Credit card overdraft is essentially an online consumption. Although the cardholder can overdraw the credit card limit, it can only be used for consumption, not for cash withdrawal, investment, wealth management and so on.
Moreover, the annual interest rate of installment loans of CCB fluctuates according to the benchmark interest rate of bank loans, and the general floating ratio is 10% of the benchmark interest rate. After the credit card is overdrawn, not only the interest rate is higher, but also the interest will be superimposed. Calculated, after the cardholder's credit card is overdrawn, the interest to be paid is much higher than the installment loan.
What is the maximum overdraft limit of CCB credit card?
Each card is different according to everyone's actual situation. The maximum overdraft limit of CCB credit card is 10000 yuan. Personal dragon card quasi-credit card Puka credit line up to 5000 yuan; The maximum credit limit of personal dragon card quasi-credit card gold card is 10000 yuan.
The above is the related content sharing of "the difference between CCB installment loan and credit card overdraft", hoping to help everyone!
What's the difference between personal loan and overdraft?
Hello, if the personal loan is through China Merchants Bank, the loan amount is earmarked. You need to verify the purpose of your loan and whether the branch of China Merchants Bank where you are located can handle the loan you need.
If they are all satisfied, mortgages and guarantees are generally needed when applying for loans.
Details can be verified with the personal loan manager of the loan handling bank.
Loans include consumer loans, housing loans and commercial loans.
The loan interest rate needs to be comprehensively priced according to the business type, credit status, guarantee method and other factors you apply for, and can only be determined after being approved by the handling outlets. If you want to know the current benchmark loan interest rate information, please open the home page of China Merchants Bank and find the loan interest rate on the right.
Overdraft consumption generally refers to credit card consumption. Credit cards are debit cards, which can be repaid after consumption. You can repay on time on the repayment date. No mortgage guarantee is needed.
If you have any other questions, please visit "Online Customer Service" (website: Logincmu=0), we will serve you wholeheartedly! Thank you for your concern and support for China Merchants Bank!
What does credit card overdraft mean? What's the difference
What are the benefits of a small overdraft credit card? How should I overdraw my credit card? Small overdraft credit card and? What's the difference between them? Under what circumstances should cardholders choose a small overdraft credit card? When do you choose?
1, small overdraft credit card limit and interest
Look at the limit of your credit card. If your credit card amount is 65,438+0,000, then you can use your credit card to swipe 1 10,000 things when you go to a store with a POS machine. If you want to withdraw cash from an ATM, the general bank will withdraw less than 50% of the amount, so you can withdraw 5000 yuan in cash. There is no interest and handling fee for credit card consumption at POS machine. The minimum handling fee for ATM withdrawal is 10 yuan, and the interest of 0.5 ‰ is charged every day.
2. Banking business
Credit cards are different from overdrafts. According to the cardholder's application, the bank transfers the cash to the debit card under the cardholder's credit limit, and the cardholder pays different expected annualized interest rates according to the repayment period.
For businessmen who need liquidity, flexible use of credit loans can save you a lot of interest. Many joint-stock banks have launched credit card business, which has solved the urgent needs of many people with small funds. The survey found that Xingye, Guangfa, CITIC, Shanghai Pudong Development Bank and Ping An Bank can all provide this service.
What unlimited overdraft credit cards are available for knowledge expansion? What are the processing conditions?
3. The difference between overdraft credit card and credit card
Credit card overdraft is a function of credit card, and it can also be said that it is a credit card business run by banks. The charging regulations of the two are different. But both of them have the significance of providing funds for consumers.
The maximum loan amount of credit card pre-lending business in each bank is different. For example, Xingye Ping An is 50,000 yuan, and Guangfa Bank can borrow up to 65,438+10,000 yuan. There are also some banks that set the loan amount according to the proportion of the credit amount. The maximum credit line of Shanghai Pudong Development Bank is 100%, and CITIC Bank can also apply for a maximum credit line of 90%. In addition, the bank will provide loans according to 10% of the total assets provided by customers, up to 100000, but the use of funds is limited to business activities.
However, the expected annualized interest rate of unsecured loans is much higher than that of secured loans, and the expected annualized interest rates of loans of various banks are basically the same. Some banks claim that the business has zero interest, but cardholders have to pay a handling fee. Although the rate is lower than the direct cash withdrawal by credit card, it is much higher than the expected annualized interest rate of benchmark loans with the same term. However, the advantage of this loan is that customers can calculate interest on a daily basis. Generally, the expected annualized interest rate of daily loans is about five ten thousandths, so the expected annualized interest rate of one-year loans is as high as 18%, while the expected annualized interest rate of bank mortgage loans is only 6%.
Overdraft card or loan?
Whether to use overdraft card or loan depends on the purpose, purpose, duration and amount of funds.
The so-called overdraft card is a credit card, which is a credit card. Credit card refers to the credit card issued by the bank, which gives the cardholder a certain credit limit, within which the cardholder can spend first and then repay. The credit line is usually low, generally below 10W.
Features: 1 You can spend money without overdraft, enjoy an interest-free period of 20-56 days, and receive no interest at all for repayment on time (most banks will charge 0.5% interest and 2% handling fee on the day of cash withdrawal);
2. You can spend money by credit card all over the country, and you can withdraw money or spend money by credit card at ATMs and POS machines with UnionPay logo.
The invention of credit card is like a double-edged sword, which can solve the temporary economic crisis. However, the purpose of issuing credit cards is to make money. Once the interest-free repayment time is exceeded, high interest will be charged, usually five ten thousandths of interest per day.
Bank loan refers to an economic behavior that banks lend funds to people in need of funds at a certain interest rate according to national policies and return them within the agreed time limit. The loan amount is high Loan types can be divided into:
1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;
2. According to different repayment methods, it can be divided into demand loans, term loans and overdrafts;
3. According to the different purposes or objects of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans and securities broker loans. ;
4. According to the different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan and credit loan.
5. According to the loan scale, it can be divided into wholesale loans and retail loans;
6. According to the different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.
What's the difference between credit card loan and overdraft?
Credit card overdraft is convenient, but the interest rate is higher, while it is troublesome to borrow money from the bank, but the interest rate is lower. For example, if the credit card is calculated according to the minimum repayment amount, the annual interest rate is as high as 18%, and if it is calculated by stages, the annual interest rate is also 7.2%. The bank loan interest rate is only 5.3 1% a year.