The "Wanyongjin" business of Shanghai Pudong Development Bank is a loan service provided by Shanghai Pudong Development Bank for its credit card customers. The advantage is that repayment is flexible and it does not occupy the credit card overdraft limit.

The controversy over this business has not subsided. Due to the vague positioning of this business, some people think it is a disguised form of credit card cash-out, but some people think it is an innovative experiment of domestic banks in small-amount personal credit business. . On July 13, a Morning Post reporter received complaints from consumers, and the "Wanyongjin" was once again questioned for inducing consumers to cash out.

Extended information:

The customer service staff of Shanghai Pudong Development Bank Credit Card Center said that the current cash withdrawal fee for Shanghai Pudong Development Credit Card is 3%, with a minimum of 30 yuan, and there are 10,000 yuan every day. Five interest. Compared with cash withdrawals by credit card, "Universal Gold" does not have an interest rate of 0.5% per day, and credit card cash must be repaid in full. "Universal Gold" can be paid in installments in one, two or three years.

For example, if you apply for a "universal loan" of 10,000 yuan, the monthly repayment for a one-year loan is 900.7 yuan, and for a two-year loan, the monthly repayment is 482.5 yuan. Compared with credit card cash withdrawals, the interest rate is indeed much lower. In terms of specific usage, after the application is successful, the bank will transfer the funds to the user's bank debit card, and then the monthly repayment amount will appear on the user's credit card statement, consistent with the credit card repayment method.

Dazhong Daily - Shanghai Pudong Development Bank’s “universal gold” is questioned again