Banks always treat us like fools, which is a bit unorthodox!
In the morning, the staff of CCB called me and told me that because I am their high-end customer, I can get a quick loan of 60,000 yuan with my CCB credit card and ID card, and the longest term is 3 years.
I immediately asked how high the interest rate was and how to pay it back.
Get a reply: the annual interest rate is 4.8%, and the repayment method is equal monthly repayment of principal and interest, of which the monthly interest rate is 0.4%. For example, if you borrow 60,000 yuan, the term is one year, and the monthly repayment is 5,240 yuan, including the principal of 5,000 yuan (60,000 yuan/12 months) and the interest of 240 yuan. Calculated, the annual interest rate is 4.8%.
I said, you may have miscalculated. The real interest rate is around 9.2%, because I only take up half of your 60,000, that is, 30,000, and I need to pay you 4.8% interest according to 60,000.
In fact, this problem can be put into excel and calculated by XIRR function. The list and calculation results are as follows:
Calculate, you will find that the pit dug by CCB is the so-called "high-end customer", which is really unprofitable!
When you see a variety of ways to promote loans, you must remember to confirm the repayment method, time and interest rate calculation method, and substitute it into the XIRR function to calculate the interest rate.
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