1. First of all, micro-credit is a micro-credit product of Weizhong Bank. The daily interest rate is between 0.02% and 0.05%, generally lower than 0.05%. I also charge interest for a few days, and I don't charge prepayment. Any handling fee.
For example, if the loan amount is 5,000 yuan, the loan term is 30 days, and the daily interest rate is 0.05%, then the interest rate is 75 yuan.
There will be a handling fee for withdrawing cash by credit card, which will be deducted directly from the credit card. Each bank charges different fees for withdrawing cash by credit card, generally around 1%-3%, and the minimum fee is 10-50 yuan/transaction. There is a difference between domestic and overseas cash withdrawal fees.
But this doesn't mean that you have to pay back the money you withheld, because credit card withdrawal does not enjoy interest-free period. During the period before repayment, interest shall be calculated at the rate of 0.05% per day from the date of withdrawal. If the repayment is not made on the last repayment date, a penalty of 5% of the cash amount shall be paid in addition to the handling fee and interest.
For example, if you withdraw 5000 yuan by credit card, the handling fee will be calculated as 1%. Handling fee: 5000* 1%=50 yuan, the same 30 days, then the interest is 5000*0.05%*30=75 yuan, and the final repayment amount is 5000+50+75=5 125 yuan.
3. So, if you take 5000 yuan and use it for 30 days, you will be charged 125 yuan interest+handling fee.
From this, we also know that not all online loans have high interest rates, which is not an option!
Micro-credit (full name micro-enterprise credit) is a kind of micro-credit, which refers to the credit service provided for micro-enterprises. Another widely used word derived from this is called microfinance, which extends the service content to other financial services such as savings, insurance and remittance.
In fact, Dai Weiwei uses a white list invitation system. Not everyone is qualified to take part in the experiment. So those lucky enough to be invited to use it will feel very open-minded, but don't be carried away by excitement, you will be confused by a product. First of all, the interest rate of microfinance is slightly higher than that of banks and other lending platforms.
The interest rate is slightly lower. Generally speaking, the daily interest rate is between 0.03% and 0.05%. When the annual interest rate is converted, the interest rate is between 10.8%- 18%. The state stipulates that the annual interest rate exceeds 36%.
It is usury, so it is neither a loan nor a small loan, but from the perspective of daily interest rate, it is definitely higher than the bank interest rate.