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Xiaomi's accompanying loan is a loan service under Xiaomi Finance, formerly known as "Xiaomi Loan".
With the satellite, relying on Xiaomi's outstanding advantages in artificial intelligence, big data and other fields, the online audit system with zero manual intervention in the whole process brings efficient and convenient financial technology services to users.
The products borrowed by satellite are characterized by a daily interest rate of 20,000, which can be repaid with the loan, fast authentication and the fastest arrival time 1 minute. In addition, loans, installment purchases, full coverage of rice noodles, comprehensive risk control, and transparent interest expenses.
The logic of satellite loans is similar to that of commercial credit cards, that is, commercial institutions issue cards by themselves, and provide users with a certain credit line according to their consumption behavior in the card-issuing commercial institutions, with the ultimate goal of promoting users' consumption in the commercial institutions.
Loan interest calculation
The loan interest will be deducted automatically on the repayment date of each month, and the daily interest rate calculation formula is = unpaid principal * daily interest rate (the daily interest rate of Xiaomi loan will be comprehensively evaluated according to the account and personal credit situation, please refer to the display on your page).
For example, the daily interest rate is five ten thousandths, the loan 10000 yuan, and the daily interest is 5 yuan. If you have overdue principal or interest, the overdue interest rate of overdue principal or interest is 65438+ 0.5 times the normal loan interest rate.
Installment shopping rate
Xiaomi supports 3/6/ 12 installment payment. The total handling fee rate of Xiaomi installment 3 is 2.22%, that of Xiaomi installment 6 is 3.9%, and that of 12 is 7.2%. Normal repayment only needs to pay the principal and handling fee of the current period every month, and the total handling fee is charged for the prepayment (whichever is the number).