Instalment music seems to be quite unreliable, with relatively high interest rates and many tricks. It is not recommended to use it. Fenqile is a domestic financial service platform that provides installment consumption for young people. It has the lowest down payment and monthly payment on the Internet for purchasing goods, and ultra-low handling fees for repayment. It supports online banking, Alipay, and Tenpay payment, and you can use your ID card to apply for installment; the platform provides of mobile phones, computers, cameras and other products.

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1. Fenqile

Fenqile is a high-quality installment shopping mall under Lexin. Founded in October 2013, it is the first batch of council member units of the China Internet Finance Association and the first batch of 17 Internet financial credit information sharing units.

The company has established formal partnerships with many well-known brands such as Apple, L'Oreal and Philips, and has become the third largest Internet channel after JD.com and Tmall. With its abundant high-quality products and good stage experience, Stage Music Shopping Center provides users with a new e-commerce installment consumption scenario; at the same time, it also provides credit card holders of dozens of banks such as Industrial and Commercial Bank of China and China Merchants Bank. Installment shopping service.

2. Is Fenqile an online loan?

No, Fenqile is not an online loan. The platform mainly conducts matching business and does not participate in lending itself. At present, Fenqile has recommended campus loan business to banks. For users registered as college students, Fenqile will no longer recommend any loan business to any online loan platform or financial institutions not approved by the China Banking Regulatory Commission. At present, Fenqile mainly cooperates with banks and licensed consumer finance companies, such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Merchants Bank, etc.

3. What is the interest rate of Fenqi Le?

Fenqi Le is an online installment consumer product. Its daily installment interest rate is as low as 0.03, and the converted annual interest rate is 10.95, but it is also consistent with According to national loan regulations, as long as the loan interest rate does not exceed 24%, it does not fall into the category of usury. Normally, interest charges are charged based on the number of installments, so the more installments there are, the higher the interest will be.

4. What will happen if installment payment is not repaid?

① Overdue fees will be incurred: Once the repayment exceeds the repayment date, corresponding overdue fees will be incurred, and overdue fees will not be incurred. The longer it takes to pay back, the more overdue fees will be incurred.

② Being sued: If Fenqile never repays the money, Fenqile has the right to sue after more than 90 days. At that time, if Fenqile files a lawsuit in court, if the customer still fails to repay the loan after the court's decision, it is likely to be listed as a breach of trust person.

③ Impact on personal credit and future card applications and loans: Once the installment loan is overdue, it will cause damage to personal credit and may leave a bad credit record in the credit report. Once a bad record is left on the credit report, it will be retained for at least 5 years before it is deleted by the system. If you apply for a card or loan later, you will most likely be rejected due to bad credit.