Interest on the loan shall be charged on a daily basis after the loan. The average daily interest rate of borrowing is 4 ‰. Calculated in 365 days, the annualized rate is only 14.6%, and the lowest interest rate is even 2.5 ‰. The annualized interest rate is 9%, which is lower than most bank credit cards.

For example, the daily interest rate is four ten thousandths, the loan 10000 yuan, and the daily interest rate is 4 yuan; If the loan of 10000 yuan takes 30 days, the total interest is 120 yuan. Users can prepay at any time, and the interest after prepayment is calculated according to the number of days that the remaining unpaid principal is actually used.

Borrow. Related:

Borrowing is a loan service launched by Alipay. At present, the application threshold is more than 600 points for sesame seeds. According to different scores, the loan amount that users can apply for ranges from1000-300,000 yuan. The longest repayment period of the loan is 12 months, and the daily interest rate of the loan is 0.045%, which can be repaid with the loan.

At present, the consumer loans launched by e-commerce giants are mainly aimed at the stages of consumption scenarios of this e-commerce platform. However, with the continuous accumulation of personal credit data, personal credit loans for non-consumption scenarios are also being launched one after another.

Baidu Encyclopedia-Excuse me.