Bai is a loan service launched by Alipay. The threshold of application is sesame is over 600. According to different scores, the amount of loans that users can apply for ranges from 1000 to 50000 yuan.
The longest repayment period of a loan is 12 months. Everyone's expected annual interest rate will be different. Most users' daily interest rate is 0.04%. The daily interest rate of a loan of 10000 yuan is 4 yuan. The daily interest rate of loan with repayment is 4 / 10000. The annual interest rate is basically 365 * 0.04% = 14.6%. The interest rate of 20000 yuan is 20000 * 365 * 0.04% = 2920 It can be clearly seen that if you borrow at 0.04% daily interest for one year, you need to pay 2920 yuan of interest at one time.
How to reduce the interest of ant loan?
1. Increase the frequency of borrowing. It's easy for most people to reduce the daily interest rate to 0.04% if they usually borrow several times and keep good credit behavior.
2. Improve sesame credit score. We often use some of Alipay's functions, such as transaction, transfer, payment, etc., or improve our vehicle information and housing information to enhance our sesame credit score. If our sesame credit score goes up, the interest rate of borrowing will also go down.
3. Try to open Taobao store. There has been an example that shows that some people only open a shop, but never sell anything, but the daily interest rate of lending to them is the lowest 0.015%.
4. Choose the right way of repayment. There are two repayment methods: equal amount of money per month (we have to repay the same amount of money including principal and interest each month) and interest before principal (return the interest every month, return the principal in the last period and the interest in the last period).
For example, suppose that the daily interest rate is 0.04%, the loan is 10000 yuan, and the repayment is made in 12 installments. In the case of "equal amount per month", it will pay nearly 900 yuan per month, and the total interest will be 745.49 yuan. In the case of "interest before capital", it will pay more than 100 yuan per month before, and 10124 yuan for the last installment, and the total interest will be 1400 yuan. From this point of view, it is more cost-effective to make equal monthly repayment in this case.
5. Exchange for discount coupon. As we all know, Alipay has ant membership, divided into four grades: public, gold, platinum and diamond. The higher the level is, the more benefits and activities it can enjoy.
6. Use the coupons given by the system. Don't ignore the coupons borrowed by ant. The system will randomly distribute them to new and old users. If coupons are used when borrowing, the actual interest rate will be lower.