How long does it take for Taobao credit loan to arrive in 2016? Taobao credit loan is a pure credit, unsecured, and unguaranteed loan product of "Ant Micro-Loan". You see the loan application amount on the page, submit the loan application, and confirm the Alipay payment password. Generally, the Taobao credit loan will arrive in your account in about 3 minutes. Alipay for store transactions (interest will start to be calculated on a daily basis after the loan is issued to Alipay). The expected annualized interest rate of Taobao credit loan is 0.6%. It supports borrowing and repaying at any time. The interest will be calculated based on the number of days, and no interest will be calculated on the day of repayment (except for the first day). Taobao credit loan does not have any other handling fees except interest, and it is precisely because of its simple and fast operation mode that it is deeply loved by the public. But everything has two sides, and there are advantages and disadvantages. Jack Ma is not stupid and will not use his own money to benefit others. So what are the disadvantages of Taobao loans?
1. The expected annualized interest rate is high. The expected annualized interest rate of Taobao loans is as high as 18, which is far higher than that of bank loans, which is around 6.
2. The consequences of defaulting on Taobao loans are serious. Taobao revealed that the penalty for members who default on Taobao loans is to deduct 48 points each time. The member's associated stores that meet "specific conditions" are permanently prohibited from participating in Taobao marketing activities. "Specific conditions" means that it has agreed to deal with its Taobao store if it or its related parties default on Taobao loans. Note: Definition of related store terms: A member's related store refers to a store created in the name of a related person, or a store of the same actual operator. The associated stores in "Taobao Loans in Arrears" also include stores with the same registrant.