The main differences between micro-credit and sub-payment in WeChat are as follows:
1, using different methods.
Micro-loan is a personal credit loan product launched by Weizhong Bank. If the user needs funds, he can apply for a loan, withdraw the micro-loan amount into the bank card, and bear interest on a daily basis. The borrowed funds can be used for daily consumption.
Sub-payment is equivalent to the WeChat version of "Flower Garden", but it bears interest on a daily basis. Friends who open sub-payment will get a certain amount of consumption. Usually, they can pay for eating, shopping and watching movies by installments, but if there is a cash demand, the installments cannot be withdrawn, because the installments are mainly used to meet the direct consumption needs of users.
2. The quota is different from the interest rate.
According to the official introduction of micro-loans, the current maximum loan amount of micro-loans is 200,000 yuan, and the specific loan amount is determined by the system according to the individual comprehensive situation of users. The specific loan interest rate is also determined by the system evaluation, and it is impossible to manually intervene. The system will evaluate the user's account from time to time and adjust the loan amount and interest rate according to the evaluation results.
The official has not made clear the amount of sub-payment, but according to the feedback from users who started the sub-payment, most people's sub-payment amount is between several hundred yuan and 20,000 yuan. The specific amount and interest rate are also determined through comprehensive evaluation of the system, and the amount and interest rate will be adjusted from time to time.
3. Different repayment methods
At present, there are three loan terms supported by micro-credit loans: 5, 10, 20 months. When choosing the repayment period, users can choose to repay on schedule or in advance, and they can repay in advance the next day without any charge.
Sub-payment supports loan-as-you-borrow repayment, which can be repaid in advance manually at any time, and the interest generated so far needs to be paid. In addition, you can repay 10% of the used line every month. At present, the repayment rules are as follows: when the usage amount exceeds 100 yuan at the end of the month, 10% of the usage amount and the interest generated last month need to be repaid; When the used line at the end of the month is less than 100 yuan, all the line and the interest up to the repayment date shall be returned.
Summary: Although micro-loan and sub-payment are both loan products in WeChat, there are still great differences between them. Micro-loans and installment payments have different ways of use, amount and interest rate, and repayment methods are also different.