Advantages: the loan interest rate is lower than the credit card overdraft interest rate. One-year loan 1 000 yuan, regardless of the time value of funds, only 900.7 yuan (including interest of 67.4 yuan) needs to be repaid every month. The annual interest rate is 8.084%, the annual interest rate of the loan is 2 years, and the annual interest rate of the 7.9% loan is 7.97 1%, all of which are repaid by monthly installments.

Disadvantages: it is the original intention of this product design, which is equivalent to a disguised loan method. Therefore, customers are required to repay in advance by installments, and they also need to pay liquidated damages, which is equivalent to compulsory loans.

2. Minimum repayment amount

Advantages: repayment can be made at any time, reducing interest expenses.

Disadvantages: overdraft interest is charged at the daily interest rate of 0.5 ‰ (annualized interest rate 18.25%).

Therefore, which method to use depends on when you plan to repay:

1. It is planned to use the slow repayment method for a long time, and it is cost-effective to use the universal fund.

2. If you can pay back the money at any time in the short term, it is still the lowest cost performance.