1. Fenqile is a loan shark

The interest rate of Fenqile does not seem very high, but in fact the annual profit rate of repaying it in 12 installments is as high as 36%, which means that if you borrow For 10,000 yuan, you will actually have to pay 3,600 yuan more in interest at the end of the year. If calculated according to this standard, Fenqile is actually a loan shark, just a loan shark disguised as a regular online loan platform.

2. The maximum interest rate stipulated by the state

Article 26 of the "Regulations of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" stipulates: The interest rate agreed upon by the borrower and the borrower does not exceed The annual interest rate is 24%. If the lender requests the borrower to pay interest according to the agreed interest rate, the people's court shall support it. If the interest rate agreed between the borrower and the lender exceeds the annual interest rate by 36%, the excess interest agreement is invalid. If the borrower requests the lender to return the interest that has been paid in excess of 36% of the annual interest rate, the People's Court shall support the request.

: Installment Le is a high-quality installment shopping mall under Lexin [Established in October 2013, it is the pioneer of China’s installment shopping e-commerce model. It has always adhered to the philosophy of "enjoying the degree and seeing better things" Brand concept.

1. Fenqile

Fenqile Mall has established cooperation with many well-known brands such as Apple, Huawei, OPPO, vivo, L'Oreal, Philips, etc., and has become the second largest brand sales volume second only to JD.com. , Tmall’s third largest Internet channel. Fenqile Mall has also introduced e-commerce platforms such as JD.com, Xiaomi Youpin, and Kaola Online Shopping, and exported its installment service capabilities to many high-quality external platforms such as Yangquan Duan and Mafengwo. As of March 2020, the number of products in Fenqile Mall has exceeded 2 million

2. Loan sharking

In loan sharking activities, loan sharking at high interest rates and then onward lending at high interest rates to a certain amount constitutes The crime of illegally absorbing deposits from the public; defrauding credit funds from financial institutions for the purpose of on-lending and lending them to others at high interest rates, and the illegal amount is relatively large constitutes the crime of on-lending at high interest rates; for the purpose of illegal possession, using fraudulent methods to illegally raise funds, and the amount is relatively large It constitutes the crime of fund-raising fraud; loan sharking can easily lead to illegal detention, kidnapping, injury, fraud and other criminal crimes; private intermediaries and individuals lending their own funds with legitimate income at high interest rates are private lending activities. If a loan dispute occurs, it is Category of civil adjustment

3. Loan methods

Daerqiao borrows 10,000 yuan and can only get 9,000 yuan, but has to pay 13,000 yuan when repaying the loan. Moreover, the interest of loan sharks is "pegged" (interest) from day to day and is calculated as compound interest. This is called "interest compounding". Often a few hundred yuan is borrowed, and it takes a year and a half to pay it back, and the loan may cost tens of thousands with interest.