Sihai: ants borrow is a loan service for personal consumption, users can directly borrow money on Alipay. Xiaobian told you ants to borrow, but also pay interest in advance? How does Alipay calculate interest in advance?
According to the official data of Alipay, the opening standard of ants is based on the credit status of users. The maximum amount is 200 thousand yuan, the repayment period is 12 months, repayment is made in the form of equal principal amount, and each month is automatically deducted from individual Alipay account.
Does ant still have to pay interest for prepayment
One of the major features of the loan is that it can be borrowed and paid back at any time. According to the design of this product, the original intention is to apply for a loan, and then repay the loan in installments, and then repay the money regularly according to the repayment plan every month. The advantage over credit card is that the repayment is made according to the same amount of principal, and the total interest is much less.
Xiaobian told you that the longest repayment period of "Jiebai" is 12 months, and the daily interest rate of the loan is 0.045%, and the loan will be returned with the loan. The amount of user application can be transferred to the balance of Alipay, and it can be used to bind bank cards to cash as well as loans obtained from banks.
'ant borrowing' is calculated on a daily basis. The daily interest rate of the loan is 0.045%, and the annual interest rate is 16.425%.
1. Full payment
If you don't need to use the borrowed funds, or if you can repay the money in advance, and you don't want to waste any more interest, you can pay the full amount directly. Then you only need to calculate the interest by day, such as using the principal directly * 0.045% * days.
2. Prepayment by installment
Rong360 Xiaobian tells you that if it is prepayment of each installment, it is also calculated by day. From the day of your repayment, the interest does not need to be calculated from the next day to the final repayment date of this period. The interest is then calculated on a daily basis from the first day of the next period.