Which is the best value of ant loan or credit card
4hw.com.cn: the daily interest rate of ant borrowing is between 0.015% and 0.06%, which is determined by the comprehensive evaluation of the system. Different people have different interest rates. We use the daily interest rate of 0.04% to borrow 10000 yuan in 12 installments.
There are two repayment methods for ant loan
1. The monthly equivalent repayment method is 754.69 yuan, which is converted into an adult interest of 754.68 & pipe; 10000 & asymp; 7.55%.
2. The interest is 1408 yuan in total, which is converted into an adult interest of 1408 & pie; 10000 = 14.08%.
Which one is more cost-effective than the old one?
At present, the mainstream of credit card loans are direct cash withdrawal and bill installment.
Credit card cash, the bank will usually calculate interest at 0.05% per day, and it is compound interest, that is, the legendary rolling interest.
Assuming that RMB 10000 is directly withdrawn and all repayment is made one year later, the sum of principal and interest to be paid back is 10000 * (1 + 0.0005) ^ 365 & asymp; 12002. It is equivalent to paying the interest of 2002 yuan a year, which is higher than the two repayment methods of ant borrowing. Moreover, the bank will charge 1% service charge for each withdrawal by credit card.
Credit card bill installment, that is, first use the credit card to consume, and then divide the current month's bill into multiple periods to repay. The service charge for different bank bill installments is different. Please refer to the top picture for details.
Compared with 12 periods, the interest of 7.55% of the monthly equal repayment method of ant Jiebai is in the middle of the installment handling fees of credit card bills of major banks, but the interest of 14.08% of the repayment method of interest before principal is far higher than that of credit card bill installment of major banks.
Generally speaking, ant borrowing is more cost-effective than direct cash withdrawal by credit card, and it is also more cost-effective than the installment of some bank credit card bills.
Of course, this is only a comparison from the aspect of borrowing. If the application conditions and daily consumption are added, the two are equal.