Is the interest rate of Jingdong Baitiao high? We calculate it at the lowest rate. The actual situation may be higher than this. The actual annual interest rate is about 12% - 15%. For those who want to borrow money to buy things, let's have a look.
The rate standard of Jingdong Baitiao interest installment is 0.5% / month. That is to say, the user chooses to pay 1.5% in three phases and 6% in 12 phases. If they don't pay in phases, there will be no cost. If they fail to pay for many times, the penalty will be 0.03% per day. After entering my JD, my assets will be paid in the detail page of the white note in the online banking wallet. So, how much is the annual interest rate converted from 0.5% commission? Is it cost-effective?
It seems that there is only 0.5% service charge per month and only 6% interest per year in the installment of Baitiao. Is it true? Certainly not. The actual annual interest rate in the installment of Baitiao is calculated according to 12 months (refer to "calculation method of actual annual interest rate of bank credit card installment" on rong360 official website). Since the actual annual interest rate = 24 * service charge rate per installment * number of periods / (1 + number of periods), the actual annual interest rate is 11.08%.
If the 12 period rate of Baitiao is really 0.5% per period, then the annual interest rate of 11.08% is very conscience. However, the annual rate of Jingdong Baitiao is 0.5% - 1.2%. We calculate it according to the lowest rate. The actual situation may be higher than this. The actual annual interest rate is about 12% - 15%.
Finally, Xiaobian reminds you that after the installment of Jingdong Baitiao, it can't be cancelled. If you want to repay in advance, the service charge for the remaining outstanding installments still needs to be paid.