1. The annual interest rate for 36 periods is 7.13 yuan. If you repay early, you will be charged the remaining 3% annual interest rate. A 10,000 yuan universal fund will cost the bank about 10,720 yuan a year. The bank must repay 11,692.80 yuan in 2 years and 12,567.6 yuan in 3 years. Pudong Development Bank Universal Gold is an installment loan in addition to the credit card limit of Pudong Development Bank. Cardholders can submit an application to Shanghai Pudong Development Bank, and after you swipe the card, you can repay it in installments.
2. Advantages and Disadvantages of Wanyongjin
1. Advantages
First of all, Pudong Wanyongjin is an installment loan in addition to the credit limit, and It does not occupy the credit card's own limit. To put it bluntly, you got a sum of money for nothing, just to save you from danger and facilitate your turnover.
Secondly, Pudong Development Bank Universal Gold can be repaid in installments, with the lowest total handling fee in 3 installments, the lowest monthly handling fee in 24th installment, and the lowest monthly repayment amount in 36th installment.
2. Disadvantages
Of course, there are advantages and disadvantages. It is true that Pudong Development Bank can provide installment loans, but it does not support early repayment. For children's shoes that want to repay in advance, please be prepared for liquidated damages. The bank will deduct 3% of your early repayment principal in one go. Therefore, you need to be cautious when repaying your loan and think twice before you act!
3. Can Shanghai Pudong Development Bank Universal Fund be repaid in advance
1. After applying for Shanghai Pudong Development Bank Universal Fund, if the user needs to repay in advance, he or she must submit an advance payment application to Shanghai Pudong Development Bank. Repayment application. After receiving the application, Shanghai Pudong Development Bank will confirm it with the user. After confirmation, the early repayment operation can be carried out. After applying for the Pudong Development Bank Universal Fund, the cash installment limit will be frozen. Every time a part of the Universal Fund is repaid, part of the limit will be restored.
2. For normal repayment, the user's universal money only needs to repay the bill amount, and the excess payment will become an overpayment.
4. Pudong Development Bank is also a cash loan. For people who need capital turnover, compared with other cash loan platforms, the interest rate is not high. After all, it is not a pure commercial loan. The way Wanyongjin collects interest is in thirty-six installments, and each installment is charged based on the interest on the total principal amount of the loan. It can be said to be similar to a home loan. And there is a requirement that no early repayment is allowed within six months. Early repayment after six months will incur liquidated damages. Assume that the principal of 104,000 is divided into thirty-six installments, with a repayment of 3,921.95 in each installment. The total repayment is 141,190.2 yuan. In addition to the principal, the interest is 37,190.2 yuan. The annual interest is 12396.73, which is basically an interest of 1 cent to less than 1 cent. The monthly interest is 1,033.06. Based on the principal of 104,000, these interests are not very high, but since the interest is the same for thirty-six periods, the total is relatively high.