Assume repaying a credit card transaction of HKD50,000 by 60 months with a monthly handling fee of 0.18%, daily handling fee is only HKD3.00*
|Monthly instalment principal||Monthly handling fee||Monthly repayment amount|
( = HKD50,000 ÷ 60 )
( = HKD50,000 x 0.18%)
*Assume 30 calendar days per month, daily handling fee is only HKD3.00 (= HKD50,000 x 0.18% ÷ 30). The annualised percentage rate is 4.19% (calculated based on 60 months repayment period)
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