Tik Tok is essentially similar to Alipay Huabai and JD.COM Baitiao. You can choose not to pay in installments or in 3/6/12 installments. Different installments will charge different fees, but there is no fee if you don't pay in installments. As long as you repay in full and on time on the repayment date, it is completely interest-free.

Tik Tok's monthly payment is an online consumer credit product of "consumption first, repayment later" launched by Tik Tok platform. In Tik Tok, the monthly payment date is generally the 1st, 1th and 15th, while the repayment date is the billing date +5 days. For example, if the billing date is the 1st, the repayment date is the 6th, and the longest interest-free period is 36 days without installment.

however, if the repayment is not made in full at 24: on the repayment date, the overdue fee will be charged at the rate of .5 ‰ of the overdue amount on a daily basis from the overdue date until the overdue amount is settled by the user.

Therefore, the premise of Tik Tok's monthly payment is that it will be repaid in full and on time on the monthly repayment date. Of course, if Tik Tok's monthly payment is not used, there will be no interest charge for the credit line. In addition, Tik Tok Monthly Payment may also provide installment-free service for new customers' first order, depending on the actual situation.

Tik Tok monthly payment repayment rules:

If there is no minimum repayment for Tik Tok monthly payment, the borrower can use three repayment methods after using Tik Tok monthly payment.

1. Pay all the bills next month. After using Tik Tok Monthly Payment, the borrower can choose to repay all the bills in one lump sum, without installment or interest.

2. Repay by installment. In the case of insufficient repayment ability, the borrower can choose to divide the bill of the current month into installments. It can be divided into 3, 6, 9 and 12 periods. The installment rate will be generated by installment. According to the actual feedback from users, the annual installment rate paid in Tik Tok is around 17%.

3. Deferred repayment. If you need to postpone the repayment date, you must apply to customer service for deferred repayment. After contacting online customer service, users need to explain why they need to postpone repayment.

For example, in case of unemployment, serious illness, disability, etc., after submitting relevant certificates, the customer service will review the certificates, and after passing the examination, the customer service will help the user to postpone the repayment date for no more than one month.

above content reference: Baidu Encyclopedia-Tik Tok