I believe that many netizens have used this small loan platform. Since its launch, ant loan has been favored by many young people. So the netizen who hasn't used ant to borrow will ask, how is the interest of ant to borrow? Which is higher than the interest of the bank?
The interest rate is higher than that of the bank
If it's a short term within a month, ant borrows it, but I don't know if he has any regulations on how many periods it must divide. If it's a year, the interest of ant borrows it is terrifying, 0.0433 * 365 = 15.8045. That's 1580.45 per year, and the average interest of credit card is 0.6 per month, only 7.2 per year. That's 720 yuan. It seems that the interest of ICBC 12 periods is only 3.6 per cent. It's 360 yuan per 10000 years You need to check the installment interest of ICBC.
But the difference is that ants can pay back the principal plus interest or repayment in installments one year later (it seems that only repayment in installments can be made now. If repayment in installments is made, there is no need to pay interest on the part that has already been repaid, but the interest will be about 1000 after 12 installments.) The credit card can only be paid in installments. If the short-term money is recommended to be borrowed by ants or if the credit card is long-term, the interest rate of credit card installments is four ten thousandths of a day. The interest rate converted into the bank loan interest rate is about 16% per year, which is much higher than the commercial loan. Better than the folk usury, with daily interest, is to let you not understand. It's better to use credit card in stages.
After reading the above information, it's clear which is the higher interest rate between the bank and the borrower. Generally speaking, if the repayment is made in the short term, it's better for ants to borrow. But in the long term, the credit card is better. Although it's said that the interest rate of ant loan is higher than that of bank, but because the repayment is simple, more people are willing to use it!
We all know that Alipay is powerful now, can be overdrawn, and can borrow money. It is also thanks to Alipay for not taking money without going out. But recently discovered that ants in Alipay have different interest rates. Different people have different interest rates. You can borrow money from ants and repay it in installments. But the repayment interest is different, and even the repayment method is different. Some people's ants have two choices: one is to divide them into equal monthly installments and the other is to divide them into daily installments. But some people only have equal monthly installments, and the number of installments is only March and June, or June and September. But some people have four choices: 3 / 6 / 9 / 12.
However, no matter what you choose, you have to borrow in the end. The point is that different people have different interest rates and there is a big gap. Through the survey, we found that the highest interest rate is five thousand a day, and the lowest one is only five in case, the gap can be as high as three times! How exaggerated is the gap? I'll figure it out for you, and you'll see it at a glance.
For example, if the daily interest rate of the loan is 104 yuan, that is to say, if the loan is 1000 yuan in total, you need to pay 0.4 yuan for one day, and ten thousand yuan for 12 periods, roughly calculated, the interest rate of 866 yuan will be charged for one year of the loan, and the daily interest rate is 325 yuan in case of five. Is this number shocking you!? With such a large interest gap, the difference in borrowing costs is very obvious.