Combing found that in the Sina black cat, gathering complaints and other platforms, some netizens reflect Puhui fast letter borrowing interest is high, overdue by the collection and so on. However, this is a common problem in the industry. Here, we advise everyone to borrow online loans for a moment, repayment of two lines of tears. Registered in Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, P&W Express Credit is committed to providing accurate credit assessment services to a wide range of organizations and people with the most leading credit risk assessment technology and big data models. As a financial services company, P&W Express Credit is legally established.
One, how to calculate the interest on online loans
1. The number of interest method according to the actual number of days daily accumulated borrowing balance, to accumulate the cumulative cumulative number of multiplied by the daily interest rate to calculate interest. The formula for calculating interest is: interest = cumulative interest accrued x daily rate, where cumulative interest accrued = total daily balance. The cumulative interest method is mainly used to calculate interest on deposits and loans where the principal amount changes frequently, such as demand deposits. Lump-sum method is to use the determined principal and the agreed interest rate, according to the interest formula to calculate the interest one by one.
2. Pen interest method is generally used to calculate the principal amount of relatively fixed interest on deposits and loans. For example, time deposits. Interest-bearing period for the whole year (month), the interest formula: interest = principal × year (month) interest rate × year (month) number. Interest-bearing period of a full year (month) and a fraction of a day, the interest formula: interest = principal × year (month) rate × year (month) + principal × daily interest rate × fraction of a day. Can also be all the interest period into the actual number of days to calculate interest, that is, 365 days per year (leap year 366 days), monthly for the month the actual number of days of the calendar, the interest formula: interest = principal × daily interest rate × the actual number of days.
The harm of online lending
1. Some online lending platforms have unclear rate labels, and there is a certain degree of concealment in the expression of handling fees, late fees, default fees, etc., which may tighten the loan students, once the repayment of the overdue, the college students are likely to be difficult to bear the loss of funds and thus cause a credit crisis of over-consumption.
2. As the threshold of online loan installment consumption is very low, it provides a platform for college students to overspend and consume luxuriously, but many of them are heavily indebted due to impulsive consumption, which brings troubles to normal study.
3. Once there is a late payment, it will affect college students' personal credit in the bank. And once there is a personal credit stain, the future step into society, whether it is to apply for credit cards or apply for loans, than others have to pay a greater cost and may even be rejected as a result. In addition, these small online loan company once the change, the student ID card and ID card and other private information there is a potential risk of leakage.