ICBC’s installment plan is mainly for college students, because we all know that college students have stronger online and offline spending power.

Personal suggestion:

It is worth mentioning that the installment loan co-branded card has financial functions such as online and offline, consumption installment, etc., but it cannot be withdrawn. Specifically The usage scenarios include physical merchants, online malls, and need to bind ICBC QR code, WeChat quick payment method can be used. I hope everyone can learn to use it. At the same time, we need to pay attention to the fact that installments also need to pay a certain amount. We must carefully understand the handling fee before conducting analysis. Only in this way can we better protect our legitimate rights and interests from infringement. At the same time, we need to pay attention to the fact that if there is an overdue behavior, it will also have a huge impact on our future lives. I hope everyone can think twice before making installments. Only by ensuring that they have a certain amount of financial resources Only with the ability to repay can our lives be protected from harm.

Extended information:

An installment loan is a loan that the bank agrees to be repaid by the borrower in installments within a certain period of time. When a bank issues this kind of loan, it must investigate the borrower's financial status and repayment ability. At the same time, the loan contract must determine the installment time, the amount of each installment, and the calculation of interest. For example, a bank issued an installment loan of 1.2 million yuan, which was issued at the beginning of the year and recovered at the end of the year. A loan of 100,000 yuan was recovered at the end of each month, and the interest was settled in one lump sum at the end of the year. For borrowers, this method not only meets a large capital need at one time, but also reduces the interest burden from amortization. For banks, it not only provides loans and increases profits, but also accelerates loan turnover through amortization and reduces risks. In the past, only a small proportion of loans in our country were issued in this form. With the reform of the credit system, this loan method will be promoted within a suitable scope.

According to the specific repayment method, installment loans can be divided into complete equal installment repayment method and partial equal installment repayment method.

1. The complete equal-instalment repayment method refers to a method in which the principal and interest of the loan are repaid regularly at the same amount, instead of repaying the principal and interest all at once on the maturity date; it can enable the lender to reduce the amount of debt due to the borrower's arrival. The risk of being unable to repay the loan on time.

2. The partial installment equal installment method refers to a method in which part of the loan is repaid in equal installments, and the remaining part of the loan is paid in installments with interest and the principal is repaid in one lump sum upon maturity.