The current formal lending platforms include: Huabei, Ant Borrowing, Alipay Online Merchant Bank, Rongding Baidai, China Merchants Union Haoxiandai

1. Huabei

Alipay launched a "spend first, pay later" service. Users with a Sesame score of 600 or above have the opportunity to apply for "Huabei". The current limit of "Huabei" is between 2,500 and 30,000 yuan. Users can use it to shop on Tmall Mall or Taobao. They can repay on the 10th of the next month after receiving the goods. As long as they repay on time, no charges will be charged. Any handling fees.

2. Alipay Online Merchant Bank

Alipay Online Merchant Bank still serves small and micro enterprises, mass consumers, rural operators and farmers, and small and medium-sized financial institutions. The application threshold is the same as that of previous borrowing. The maximum loan amount is 10,000 yuan. The expected annualized interest rate on the loan date is 0.05%. The loan period is 12 months and the equal principal repayment method is adopted.

Before, I also had business turnover needs, and I have used several small loan products. The first one I applied for was Du Xiaoman Youqianhua (formerly Baidu Finance), with a limit of exactly 100,000 yuan (the highest on the platform). Supports 20W), and the interest rate is also very low (annualized minimum 7.2%), which is still relatively low. All were proposed and divided into 12 issues.

Baidu Finance is a formal licensed consumer finance company, and there are no fees for the entire application process and payment.

Du Xiaoman - Pay special attention to the following when spending money:

1. After spending money beyond the limit, you must withdraw cash as soon as possible, because the limit may expire after a long time.

2. It is best to withdraw the full amount when withdrawing cash, because I read other people’s posts saying that if you withdraw too little, the system risk control may mistakenly think that you need it (or re-judge that you are not a high-quality customer). If you are rejected during the cash withdrawal process, it is safer to withdraw at least 60%.

After 3 periods, you can choose to settle it in advance. The interest will be paid as long as it lasts, and there will be no loss to us. We must first make sure to pay it forward.

3. Ant Borrowing

Alipay's loan business is called Ant Borrowing. Users do not need to submit complicated personal materials and proof of financial resources, and the loan can be completed in as little as 3 seconds. This service is located in "Credit Life" in "Sesame Credit". Specifically, you only need to open your Alipay wallet, click on Wealth to view your Zhima Credit score, and then click on the credit life menu to see "Ant Borrowing". To use this service, users who need a Sesame score of 600 or more can apply for loan amounts ranging from 1,000 yuan to 300,000 yuan. You need to log in to Alipay and enter Sesame Credit to check the specific limit.

4. China Merchants Union Haoqi Loan

China Merchants Union Haoqi Loan is the Alipay Life Account loan under China Merchants Finance. The maximum amount of 200,000 can be recycled, and the daily interest rate is the lowest. to 0.029%, which can be borrowed or repaid at any time. This loan requires the borrower to be between 18 and 50 years old, with a sesame score of 550 or more.