Current location - Loan Platform Complete Network - Bank loan - Why does Baidu have the money to spend the second repayment interest of Easy Loan higher than the first repayment interest?
Why does Baidu have the money to spend the second repayment interest of Easy Loan higher than the first repayment interest?
The interest of all-easy loan (borrowing cash) is: remaining principal × interest rate × actual borrowing days.

After the user repays the loan in advance in the first installment, he starts to calculate the interest of the remaining principal. Therefore, the interest of users in the second phase may be more than 3 1 day. However, due to the reduction of the principal from the second phase, the overall interest of early repayment will be less than the user's repayment on schedule.