The auction loan is formal and reliable. Auction loans are mainly conducted through internet channels. The platform belongs to the lending information intermediary and builds an information bridge for both borrowers and borrowers. At present, the user's funds flow to China Merchants Bank, the third-party fund depository bank of the auction loan, and the platform does not contact the user's funds.

The auction of loans overdue interest is charged according to the situation.

The collection standard of overdue interest is: if the loan term exceeds 6 months, the overdue interest will be collected at the annualized interest rate of 24%;

If the loan term is less than or equal to 6 months, overdue interest will be charged at the annualized interest rate of 22.4%.

If there is a demand for funds, it is suggested that Xiaoman Financial's credit service products have money to spend to provide users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman Financial APP (click on the official calculation). The daily interest rate of money consumption loans is as low as 0.02%, and the annualized interest rate is as low as 7.2%. The approval speed of Baidu with money is relatively fast, and it can be completed in 30 seconds at the earliest. In general, the audit takes 2-3 working days.