"The interest on Alipay loans is not very high. Why are there still people who have been beaten by online loans? " I went to Zhihu for hot search again today, so what is the reason?

First of all, these are two questions.

Let's start with the conclusion:

The interest on Alipay loans is not very high, is it?

Answer: Compared with Internet credit, Alipay's interest rate is not high.

Why have people been beaten by online loans? Answer:

1, not everyone is eligible to open a loan.

2. Unlimited desire and limited repayment ability. The more you borrow, the more you fall into the whirlpool of borrowing.

3. Online lending platforms are mixed. If you are not careful, you will fall into the trap of routine loans and usury.

I. Interest-bearing method of Alipay loan

Interest on the loan is charged on a daily basis after the loan is borrowed, and no charge is required. The interest rate range of the borrowing day is 0.0 15%-0.06%. Because the comprehensive evaluation of each account is different, the interest rate is also different.

I calculated that it will be repaid in 12 installments with equal principal and interest.

The daily interest rate of 3000 yuan is about the annual interest rate10.95%;

The daily interest rate of 1 ten thousand yuan is about the annual interest rate of14.6%;

The daily interest rate of 1 ten thousand yuan is about the annual interest rate of18.25%;

The daily interest rate of 1 ten thousand yuan is about 265,438+0.9% annual interest rate.

Generally, the daily interest rate for loans is around 14000 yuan, so the annual interest rate is 14.6%. Compared with those platforms that cost more than 15000 yuan, this rate is really conscience. However, compared with the bank mortgage loan interest rate below 10%, the loan interest rate is still relatively high. But I can borrow it. After all, it is very convenient.

Second, why have people been beaten by online loans?

1, there is a threshold for borrowing.

Although borrowing is easy to use, not everyone has a quota.

First of all, the loan is based on Alipay's comprehensive evaluation of some users' data before deciding whether to grant the quota.

Secondly, even if some people have quotas, they may not be high. Many users only have a quota of one or two thousand yuan.

Therefore, if money is urgently needed, users are either not qualified or the quota is simply not enough, so they can only go to other platforms.

There is no limit to desire. The more you borrow, the more you will end up in the whirlpool of borrowing.

I want more and more, but I don't have an accurate understanding of my repayment ability.

Borrowed a number of online loans, robbing Peter to pay Paul, and the interest accumulated like snowballing. In fact, it was fine at first, but once something happened that made him unable to repay the loan, the borrower would start to "support the loan with the loan", and then the interest would roll to the state of "broken blood".

3. Fall into the trap of routine loans and usury.

There are also many illegal lending platforms on the Internet. These platforms will publish advertisements containing false information such as "unsecured, unsecured and interest-free", and carefully design "routines" to attract users to lend and increase false debts. If the borrower needs money badly, it is easy to fall into the trap of routine loan.

The following is a real case:

The victim Anmou borrowed 62,000 yuan. Unable to pay back the money, the victim was taken to the hotel and detained for two nights, and was forced to sign a loan of 6.5438+0.36 million yuan under verbal threats. Then, the creditor appealed to the court and asked Anmou to repay 6.5438+0.36 million yuan.

Previously, the head of the Criminal Investigation Bureau of the Ministry of Public Security disclosed five routines of "routine loan":

0 1 Forge the illusion of private lending

Criminal suspects often publicize in the name of microfinance companies, investment companies, consulting companies, guarantee companies and peer-to-peer lending platforms. And take low interest, unsecured, unsecured and fast loans as bait to attract business through internet, telephone, SMS, small advertisements and other channels. Attract victims to borrow money, sign false loan contracts, and package them into ordinary private lending relationships. Then, under various pretexts such as "increasing binding force", "liquidated damages", "security deposit" and "industry rules", the victims were defrauded to sign various legal documents such as false loan contracts, mortgage contracts or power of attorney for the sale of real estate and vehicles, and some even asked the victims to go through notarization procedures.

02 traces of manufacturing capital flowing water

After the criminal suspect transferred the inflated loan amount to the victim's account, it formed evidence that "the flow of funds in the account is consistent with the loan contract", and then charged high "beheading interest" in the name of quick review fee, information authentication fee, account management fee, risk control service fee and agency fee. And recovered all or part of the money transferred to the victim's account, but the victim actually only got the rest.

03 Deliberately manufacturing or arbitrarily determining breach of contract

On the pretext of deliberately losing contact and not answering the phone on the repayment date, the criminal suspect deliberately created or arbitrarily determined that the victim breached the contract, and the borrower also bore other usury. Not only was the previous repayment amount cleared, but all inflated debts were also required to be repaid. The inflated debt is often several times or even dozens of times higher than the principal.

04 Malicious advance of loan amount

When the victim is unable to repay the loan, the criminal suspect arranges a designated affiliated company or personnel to play a self-role by deception or even coercion, and signs a new false loan contract with the victim with a large amount of money, so as to increase the debt amount step by step by "changing a single household into a flat household" and "repaying the loan with a loan".

The victim was forced to drink poison to quench his thirst, which seemed to solve the urgent need, but in fact he fell into the cliff-like debt abyss of "illegibility"

Combine soft and hard to seize property

When the debt base reaches a certain amount, criminal suspects use "soft violence" to infringe on the legitimate rights and interests of victims, disrupt the normal life of victims and their close relatives, and thus exert pressure; Or use false contracts, IOUs, bank transfer records and other evidence to bring a civil lawsuit to the court and claim the so-called "legal creditor's rights", so as to achieve the purpose of encroaching on the victim's property.

Third, how to calculate the real interest rate?

In order to solve the problem of interest rate conversion of various loans, we can use the magic formula IRR of EXCEL.

Different repayment methods take up the principal for different time, so when they are converted into "real interest rate" calculated by paying the principal and interest for one year. Need to calculate the time cost of principal. IRR function is a tool that can help us compare the time cost between funds.

It doesn't matter if you don't understand the definition of IRR function. We just need to know that it can help us calculate the real interest rate of borrowing, and we can use it to calculate it.

The use of IRR function is actually very simple. Let me demonstrate: a loan 10000 yuan, paid off in 12 installments, each installment is 894 yuan, so what is the actual annualized interest rate?

1, the fixed time unit is month, and the total loan amount is 10000. The monthly cash flow is -894 yuan.

2. After listing the repayment amount of each installment, directly use IRR formula to calculate the monthly interest rate.

3. The formula for converting monthly interest rate into annual interest rate is = monthly interest rate * 12. Enter the formula and finally calculate the actual annual interest rate. The annualized interest rate of 13. 18% is not low.

Before the general loan, the IRR formula can be used to obtain the actual interest rates of various loans.

If you feel trouble, you can also use this money to compare the prices with the loan price comparison artifact. As long as you enter the number of installments and the rate, you can quickly calculate the total cost. By comparing the money spent, you can know which product is more economical.