Online lending has attracted many borrowers with the advantages of simple application and fast lending, but online lending also needs interest. Many people find that their interest is relatively high after online lending, and they will ask why the interest on online lending is so high. This paper analyzes it from many aspects.
Why is the interest on online loans so high?
1. Look at lending institutions: There are many online lending institutions, including banks and other financial institutions. If you apply for an online banking loan, the interest will be lower than that of other lending institutions. On the contrary, if you apply for online banking loans in other financial institutions, the interest will definitely be higher than online banking loans.
2. Look at the credit conditions: It is also common to borrow from the same online lending platform, and there will be situations where your own interest is higher than others. After all, online loans are subject to differential pricing. Borrowers with different credit conditions have different loan interest rates, the interest rate with good qualifications is low, and the interest rate with poor qualifications is high.
3. Look at the repayment method: the repayment method of online loans will also affect the loan interest. There are three common repayment methods: average capital, matching principal and interest, and paying interest first. Among them, the interest-saving loan method is average capital, followed by equal principal and interest, and the interest to be paid first is the most.
4. Look at the loan term: the longer the loan term, the higher the capital occupancy rate and the higher the interest.
How to solve it?
If the interest is too high after the online loan is processed, you can choose to repay in advance if you want to save interest.
The prepayment interest of most online loans is calculated to the repayment date, and the subsequent interest does not need to be paid, but a penalty may be paid, depending on the regulations of the online loan platform.
The above is the introduction of "Why the interest on online loans is so high", and I hope it will help everyone.
How to solve the high interest rate of online loans? Find the reason first.
Online loans are mostly credit loans, which do not need mortgage guarantee, and the requirements for borrowers will be relatively loose. Because of this, many people will apply for loans online when they are short of money. No matter what kind of loans are mostly charged interest, how to solve the high interest rate of online loans? It is suggested to find the cause first and then take corresponding measures to deal with it.
1. Why is the interest on online loans high?
First of all, there is not only one factor that affects the interest of online loans. After all, online loan interest should be evaluated in combination with loan type, lending institution and borrower's credit status.
Online loans are mostly credit loans that do not need mortgage guarantee, and the risks will be higher than mortgage loans and secured loans, so the high interest rate is certain. However, it is also influenced by lending institutions. For example, the interest of online loans launched by banks will be lower than that of online loans launched by non-bank institutions, depending on the credit conditions of borrowers, and the interest will definitely be different under different credit conditions.
Most borrowers have high interest rates, or poor credit information, or unstable income, or high personal debt ratio, or even three situations are possible.
Second, how to solve it?
1. If you have borrowed money on the online lending platform, it is not worthwhile to calculate the high interest rate. As long as the money borrowed from the formal platform is to be repaid, don't think that if the interest is high, it will not be repaid unilaterally. Once the repayment fails to be made on time within the specified time, the overdue payment will be collected, and the overdue fee will be paid, and the cost of credit investigation will be higher. I really can't accept such a high interest rate. I can discuss with the loan platform to reduce some interest.
2. If the loan has not started yet, but the interest rate given after the platform evaluation is too high, the borrower can borrow money on this platform, and can find several platforms to calculate the interest rate and find a platform with low interest rate. Or borrow money after improving credit conditions. If the credit information is not good, improve the credit information first. If the repayment ability is not good, you can increase your income or reduce the debt ratio. After all, even if the interest rate on the same platform is not fixed, the interest rate will decrease with the improvement of the borrower's credit status.
The above is the introduction of "how to solve the high interest rate of online loans", and I hope it will help everyone.
I can't afford online loans, and the interest is too high. What should I do?
Only the principal can be repaid, and both parties can conduct civil mediation. Because it belongs to private lending, and the interest cannot exceed the interest stipulated by law, but it often exceeds the standard stipulated by law, which can be resolved through mediation between the two parties.
According to the contract law:
Article 211 If the loan contract between natural persons does not stipulate or clearly stipulates the payment of interest, it shall be deemed as non-payment.
If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate.
Operation mode:
Refers to the distribution form of money houses, which are generally run by gangs and often make rich profits. When the debtor can't pay back the money on time, people usually threaten the debtor, even his family and friends, so that they can pay back the money.
Extended data:
Since the implementation of the Provisions of the Supreme People's Government on Several Issues Concerning the Applicable Law in the Trial of Private Lending Cases on September 20 15, the standard is no longer whether the annual interest rate exceeds 24%, but whether it exceeds 36%, that is to say, the annual interest rate does not exceed 36%.
Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases stipulates that:
If the interest rate agreed by the borrower and the borrower does not exceed 24% per annum, and the lender requests the borrower to pay interest at the agreed interest rate, the people shall support it.
The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. If the borrower requests the lender to return the interest paid in excess of 36% per annum, the people shall support it.