1 platform background
360 IOU is a credit product of 360 Branch. As a NASDAQ listed company, the platform is strong. Fuzhou 360 Online Loan Microfinance Company, a subsidiary of 360 Digital Branch, has obtained the online small loan license, and the platform compliance is beyond doubt.
In addition, 360 IOUs are jointly lent by more than 360 branches and cooperative institutions, most of which are formal financial institutions such as banks, trust institutions and consumer finance companies, mainly including China Everbright Bank, Bohai Bank, Nanjing Bank, Zheshang Bank, hengfeng bank, Shanghai Rural Commercial Bank, Xiamen International Bank, Jiangsu Bank, BOC Consumer Finance and Minmetals Trust.
2. Credit mechanism
360 IOUs rely on 360 Group's powerful Internet security technology and big data technology, and establish a user credit portrait based on its own credit evaluation and management organization-360 Credit, so as to efficiently and accurately grant credit to users. At the same time, in the process of using 360 IOUs, the system will dynamically manage the amount according to the user's consumption and repayment, and the credit mechanism and risk control measures of 360 IOUs are very mature.
3. Loan interest rate and amount
According to the information released by official website, the annualized comprehensive interest rate (simple interest) of 360 IOUs starts from 7.2%, and the highest annualized interest rate does not exceed 36%. According to national regulations, the interest rate of online loans does not exceed 36%, which is legal. The maximum loan amount of 360 IOUs is 200,000, which does not exceed the upper limit of the national micro-loan amount and meets the regulatory requirements.
4. expenses
360 IOUs don't cut off interest, charge first and then lend money. 360 IOUs do not generate any fees without borrowing money, and there is no service charge for unsuccessful loans. During the use of the loan, they charge fees such as account management fees and password fees. 360 IOUs are clearly publicized in official website and the loan contract, and there is no illegal charge.
To sum up, from the aspects of platform background, platform background, loan interest rate and amount, and fees, 360 IOU is a formal and reliable credit product.