First, the provincial bank is a loan product developed by Samoyed Jin Fu, which mainly provides consumer credit loan services for users, and its function is very similar to that of a credit card. The daily interest rate of credit card is 0.05%, the annualized rate is 18.25%, and the daily interest rate of loans in provincial banks is 18.25%. If you borrow 10,000 yuan from this platform, divide it into 12.
Second, Alipay users should be familiar with this loan product. The loan software also provides credit services for users. The daily loan interest rate advertised by the platform starts from 0.045%, but the platform will also review the personal credit of users. If the personal credit score is low, the daily interest rate of the loan will be higher than 0.045%.
Third, the illusion of low interest rate of online loans Most online loan products are based on "low interest rate" gimmicks, but after users get loans, the real annualized interest rate is much higher than the propaganda. For example, some platforms claim not to charge any loan interest, but charge high fees. Bai Jie said in the publicity that the daily loan interest rate is 0.045%, so the daily loan interest rate for one year is about 16%, but the real situation is that the loan interest rate of online lending platform is not fixed, but the credit line and loan interest rate are adjusted according to the actual situation of each user. The annualized loan interest rate of most online lending platforms exceeds 18%. In fact, the real annual loan interest rate is much higher than the annualized interest rate announced by the online lending platform. For better publicity, some platforms directly cover up the annualized interest rate, and directly publicize the daily interest rate and the loan amount that can be applied. Users can't see the annualized loan interest rate on the page, and borrowers don't know the real loan interest rate, which makes it impossible for borrowers to make accurate judgments.
Fourth, the rise of bank credit in recent years has also made many borrowers see hope, especially after the central bank cut interest rates, the loan interest generated by this user in bank loans is lower, and banks will also support users to repay in advance. Generally speaking, it is much lower than the interest on online loans. The loan interest rate of credit products launched by banks will not change with the market, but will fluctuate on the basis of the benchmark interest rate set by the central bank. What deserves people's attention is that the annualized rate of bank loans is relatively low, and the annual interest rate of most banks' loans is around 4% ~ 8%.