How to calculate the overdue interest of borrowing
How can Alipay calculate the overdue interest? The following is a compilation of relevant information for your reference.
Overdue interest of ant loan
If the loan is overdue, the penalty interest will be charged at 1.5 times of the original interest. Then, if the loan is overdue, not only the interest should be charged daily, but also the penalty interest should be charged at 1.5 times daily. If the overdue is to be restored, the principal and handling charge should be paid together.
The formula for calculating the overdue interest of ant loan: overdue interest = overdue amount * overdue days * interest * 1.5
At present, the ant loan function is still in the trial operation stage. It is only open to some users whose credit score of sesame is not less than 600. They can apply for a line of 1000-50000 yuan. At present, the maximum line of ant loan is 200000 yuan. The overall daily interest rate is between 0.02% - 0.05%, and the converted adult interest rate is about 4.15% - 9.89%.
Remind you that after borrowing, you must repay on time, otherwise overdue will not only cause bad credit record, affect the future loan application and credit card processing, but also reduce the sesame credit score, affect the amount of ant flower.