A user borrowed RMB 6,000 from iQiyi wallet (disk) and repaid it in six months, with a monthly repayment of 1 180 yuan, with a total repayment of RMB 7,080 and interest of 1080. Calculated by IRR function formula, the annual interest rate of this loan is about 78.45%, which has exceeded the annual interest rate supported by law of 36%. In addition, some users complained that "Iqiyi Express Loan was overdue 1 day", and "14000 was deducted more than 2,000 yuan immediately after it arrived, including the handling fee 100 yuan".
Extended data
Many consumers said that the loan platform contacted by iQiyi encountered beheading, usury and violent collection during the loan process. After clicking on the platform named "Youzhi Loan" provided by iQiyi, the reporter introduced and downloaded the "money finder" displayed as "Youzhi Loan Official App" through the H5 page. The mobile phone prompts that the installation source is iQiyi, showing that there are also multiple products "overlapping and nesting" in the loan products.
Iqiyi filed as many as 1397 lawsuits, including 1029 for infringement of works information network communication, 1 for copyright ownership and infringement, 47 for unfair competition, 1 for reputation right, 7 for infringement of trademark rights, 7 for unfair competition in commercial bribery and 5 for contract disputes.
Articles 4 and 8 of the Advertising Law of People's Republic of China (PRC) clearly stipulate that advertisements shall not contain false or misleading contents, and shall not deceive or mislead consumers, and advertisers shall be responsible for the authenticity of advertising contents; Advertisements must not contain obscenity, pornography, gambling, superstition, terror, violence and other contents.
References:
China Economic Net-Gong Yusan's "Test": Iqiyi's continuous loss litigation is common