I need to emphasize one thing first: if you have other means or channels, don't touch online loan products. Although online lending can solve your financial problems in a short time, your financial situation will only become more and more urgent in a few months. Many people owe more money instead of getting better after borrowing online loans.

First, you can calculate your total repayment amount.

Now you need to pay 4707.24 yuan every month and 36 installments, so the total repayment amount is 4707.24 yuan? 36 = 169460.64 yuan. If you divide 169460.64 yuan by 65438+ ten thousand yuan, you can get a value of 69.46%. 69.46% is your compound interest for three years. According to the simple interest model, the interest you need to repay every year is 23. 15%.

Second, this level of interest is obviously a bit high.

Let's not talk about private lending. If we only talk about formal lending procedures, the annualized interest of formal bank loans is between 4%- 10%, and the higher interest is only about 10%. If you overdraw by credit card, the annualized comprehensive interest of overdraft credit card is only about 18%. Compared with the formal procedure, 23. 15% is obviously a bit high.

Third, I suggest you apply for loan products through formal channels.

As I mentioned above, regular loan products are not only very formal, but also have very low interest. Don't underestimate the difference between 23. 15% and 4%. You only borrowed the principal of 654.38+10,000 yuan, but in the end you have to pay back170,000 yuan. This interest has been exaggerated. Don't put too much faith in your ability to make money. If you don't spend your money in the right place, or even lose money, then your life will be even more sad.

To sum up, the annual interest rate of your product is about 23. 15%. Personally, I don't recommend you to apply.