Have you received the bills for Double 11 in the past two days? The year-end bonus hasn’t arrived yet, but Double 12 is already on the way!
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Many people should be suffering from both sides, unable to bear the burden of food, extremely depressed, and even beginning to doubt life.< /p>
But do you remember that in countless quiet and lonely nights, only the credit card in our wallet accompanied us? Yes, they have been silently supporting us, enjoying the pleasure of "buying like crazy at buy buy without spending any of their own money", and the joy of being torn open every second after receiving the package.
1. Number of Issues and Rates
1. Credit Card:
Domestic credit cards can be provided to cardholders in Prime Bank on 3/6/9/12 /18/24 installments, the corresponding installment rates are roughly 1-2%, 3.6%-4.2%, 5.4-6.4%, 7.2%, 12%, up to 17.28%. It sounds like a big difference, but it is actually because we need to calculate the actual rate (for example, for an installment of 100 million yuan, the rate for 6 installments is 0.6% per installment, that is, 10,000 * 0.6% = 60 to calculate the handling fee for each installment. In order To facilitate your calculation, we have the total rate above, which is 3.6% for half a year, which means the total handling fee you pay in this period is 10.6%. Your installment amount * the above value is the total cost of your loan. This cost is converted into an adult, and the annual borrowing cost is about 10%-17%. The smaller the installment, the lower the annualized cost.
Relatively speaking, the interest rate of short-term installment is based on three-month installment. For example, ICBC has the lowest interest rate, followed by Agricultural Bank of China (the comparison is based on the benchmark interest rate published by the bank, the actual interest rate may vary due to the bank's promotion of installment interest rates); for relatively long-term, such as 12-month installment interest rates, CITIC Bank's The interest rate is the lowest in the industry at 12%, followed by the four major state-owned banks of Agriculture, Industry and Construction, at 13.3%. However, overall, the interest rate difference between banks is not large.
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2. Bank unsecured loans:
In addition to credit cards, many domestic banks also provide unsecured loans to high-quality customers with stable income. Mortgage loan.
This service is similar to the principle of credit card installment, providing a credit loan with a minimum term of 6 months and a maximum term of 5 years. Compared with credit cards, unsecured loans do not require special business card printing. Therefore, the application speed will be faster, and most banks can get the approval within 3-5 working days. In fact, taking the 12-month installment as an example, there is not much difference between the standard credit card fee and the installment repayment fee. But if you are employed. For high-quality employers, such as Fortune 500 companies or state-owned enterprises, as well as high-quality customers such as teachers and doctors, many banks will provide discounts on installment interest rates. The maximum discount is lower than the credit card installment interest rate.
However, unsecured loans are available to applicants. There are clear threshold requirements for pre-tax income, such as a monthly income of more than 5,000 yuan. Applicants are also required to provide formal proof of income, employment certificate, address proof and other documents, which is much stricter than most credit card applications that only require employee cards or even business cards. Of course, with so many review documents, the loan approval limit is relatively larger than that of a credit card, which can be up to 300,000-500,000 yuan, which is more suitable for customers with large consumption needs. For large consumption amounts, banks need to verify their authenticity. In other words, in order to prevent you from borrowing money to speculate in stocks, if the stock market plummets and you are unable to repay the loan, banks will generally require customers to provide post-loan vouchers, including invoices and POS machines. Bills, etc. will eventually need to be returned to the bank for review. Failure to pay the voucher on time will result in higher loan interest.
3. Internet financial products
Huabei: Huabei currently provides 3/6/9/12 periods, and the corresponding handling fees are 2.5%, 4.5%, 6.5%, and 8.8% respectively;
JD. IOUs: JD.COM IOUs can be provided in 3/6/12/24 installments (may vary depending on the products that can be installmentd), and the corresponding handling fees are 1.5%, 3%, 6%, and 12% respectively.
According to the actual incidence rate, JD.COM Baitiao has
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But whether it is an e-commerce Banks will also launch some interest-free and fee-free promotions from time to time to encourage and even cultivate everyone's consumption habits in stages. For example, JD.COM Baitiao currently has installment service fee-free coupons for certain categories or specific products.
However, for the Taobao queens who have been keeping an eye on Double 11 and looking forward to Double 12 some time ago, even JD.com. No matter how vigorous COM's promotional activities are, if you can't buy what you want, it will obviously not be as popular as Jack Ma's father's Taobao.
Second, the range of amounts
1. Credit card:
The maximum installment amount of a Prime Bank credit card shall not exceed 90% of the new consumption in the current period. Depending on your credit card limit, it could range from a few thousand to tens of thousands.
2. Bank unsecured loan:
Subject to the amount approved by the bank. Regardless of whether the amount is fully used, the loan will be repaid according to the agreed monthly repayment amount.
3. Garden:
How much you spend is roughly related to Alipay’s historical revenue and expenditure, activity, balance deposits, credit card bills, arrears history and other factors. Generally speaking, the more authentic the loan, the better the spending habits and the higher the credit limit. The installment amount cannot exceed 90% of the due amount of the previous month, and the maximum is 50,000 yuan, or 45,000 yuan.
4.JD.COM IOU:
The installment amount is calculated based on the product price, with a maximum credit limit of 15,000 yuan.
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3. Interest-free period
1. Credit card:
Currently, the interest-free period for credit cards issued by various banks is different. The minimum is 20 days, but the maximum is 56 days. The interest-free repayment period will be canceled starting next year. The 60-day limit gives card issuers more room for independent decision-making. From the perspective of interest-free period, credit cards have certain advantages.
2. Huabei:
Repayment time. It is the 10th of the next month after the receipt is confirmed, which means that the time of confirmation of receipt determines the repayment date, and the interest-free period of Jingdong Baitiao is up to 30 days. Supports credit card repayments from China CITIC Bank and Everbright Bank, so the actual repayment period is 30 days plus the credit card repayment period, which can theoretically reach more than 80 days.
3. Bank unsecured loans: < /p>
Interest accrues after the loan date, and in principle, there is no interest-free period
4. Early repayment rate
1. Credit card and Bank unsecured loan:
Credit card installments can be repaid in advance, but early repayment must repay the remaining handling fee in one go.
2. Huabei:
You can repay in advance, and if you repay in advance, the remaining installment fees can be waived
3. Jingdong Baitiao:
You can repay in advance, but early repayment will not reduce the remaining handling fees
Comprehensive evaluation of three products
1. Comparison of installment interest rates It is known that JD.com’s Baitiao installment rate is the lowest, followed by bank credit cards and consumer loans, and Huabei’s installment rate is the highest;
2. From the comparison of the number of installments, it is known that credit cards have the largest number of installments. Customers have more choices, JD Baitiao comes second, and Huabei has the least installment options;
3. From the comparison of early repayment rates, Huabei is the most cost-effective for early repayment, while JD Baitiao and credit cards It is not cost-effective to repay in advance;
4. In terms of application procedures, Huabei and Jingdong Baitiao are the simplest. Active users only need to bind the bank card through real-name authentication on the client to get the credit limit and credit card number. In short, unsecured loans have the most procedures;
5. In terms of quota, since the procedures for unsecured loans are complicated and the corresponding risks are smaller, banks will give them as much quota as possible, followed by credit cards and Huabei. and JD Baitiao have the lowest limit
No matter which consumer loan product is overdue, overdue interest will be generated and will be included in your credit report. We do not recommend that you compare which method of overdue interest. Lower, because no matter how high or low, your credit will be damaged due to overdue credit, so you must make reasonable use of your credit limit and cherish your credit record. Related Q&A: What is the minimum repayment of JD Baitiao 9,000?
The minimum repayment of JD Baitiao 9,000 is 900.
If Jingdong Baitiao has a limit of 9,000 yuan, if you want to repay it, the minimum repayment amount is 900, but you have to see whether you have the minimum repayment amount, because for a loan like Jingdong Baitiao, Their general repayment statement is to repay in full. If the minimum repayment is possible, the repayment is usually based on a minimum repayment amount of about 10%.
Definition of JD Baitiao
JD Baitiao is a payment method launched by JD Finance that consumes first and repays later. It can also be considered as a credit loan product launched by JD Finance.
Users can use Baitiao to pay when shopping on JD.com or in offline stores. When paying with Baitiao, you can enjoy deferred payment within the account period or up to 24 installments.
Baidiao does not support transfers, and some users cannot withdraw cash from Baitiao. Only users with a cash withdrawal portal can withdraw cash from Baitiao.