BPI Family Savings Bank Card Sample Successful Rate Of Interest Computation
Buy Date
First day after declaration date
Buy Amount
Payment Due
20 times after declaration date
Minimal Amount Due
3.57% for the Outstanding Balance
Average Outstanding Stability
Finance Charge every month
Effective Interest (monthly)
Month
Retail Purchase
Total Repayment
Interest
Outstanding Principal Balance
Total Outstanding Stability
1
20,000
0
0
20,000
20,000
2
714
369
19,286
19,655
3
1,058
398
18,597
18,995
4
1,062
372
17,934
18,306
5
1,012
370
17,293
17,664
6
988
346
16,676
17,022
7
941
344
16,081
16,425
8
918
332
15,507
15,839
9
886
310
14,953
15,263
10
844
309
14,419
14,728
11
823
289
13,904
14,193
12
785
287
13,408
13,695
1 Computed centered on Daily Balance utilizing 1 month per thirty days (or 360 times yearly). Brand new finance cost price effective November 3, 2020.
2 Effective interest per month = Average Monthly Interest divided by Average major stability