This loan should be calculated at the interest rate of three years, and other expenses are basically not available. A three-year loan can be repaid in 36 installments, or the principal and interest can be repaid in one lump sum after three years. If the repayment is made in installments, the three-year interest will be 17640 yuan, and if it is due, the one-time interest will be 35280 yuan.

2. What is the interest rate of 60,000 yuan universal fund of Shanghai Pudong Development Bank?

A new business called "Universal Currency" is spreading among credit card customers of Shanghai Pudong Development Bank. As long as you have both a credit card and a debit card issued by Shanghai Pudong Development Bank, you can open this business in a short time. Shanghai Pudong Development Bank will put the same proportion of cash into the debit card according to the customer's credit card limit. This fund is issued by Shanghai Pudong Development Bank to customers for free use, with almost no restrictions on use, including withdrawal.

Business innovation or credit realization?

The "universal money" personal credit business issued by Shanghai Pudong Development Bank was first tried out at the beginning of last year. Relying on the credit card, the cardholder's cash withdrawal limit is increased without occupying the credit limit. However, it is also different from pilots. First, interest rates are different. At the time of the pilot, the one-year interest rate was about 12% to 14%, and now it is 8%. Secondly, other bank debit cards can also be processed during the pilot period, which is now limited to Pudong Development Bank's debit card.

Take a credit card with a cash withdrawal amount of 1 10,000 yuan as an example. The "universal cash" business allows cardholders to have a maximum withdrawal limit of 10000 yuan in their debit cards, and there is no handling fee. He only needs to repay the loan every month, and he can choose to divide it into six installments or 12 installments.

At present, a certain percentage of handling fee is charged for cash withdrawal of credit cards. Shanghai Pudong Development Bank charges 3%, starting from 1 1,000 yuan, and 30 yuan handling fee will be charged if it is less than 1 1,000 yuan. In addition, from the date of cash withdrawal, Pudong Development Bank will also charge overdraft interest at the daily interest rate of five ten thousandths (annualized interest rate 18.25%).

"Universal Fund" business loan interest rate is lower than the credit card overdraft interest rate. One-year loan 1 000 yuan, only 900.7 yuan (including interest of 67.4 yuan) needs to be repaid every month, regardless of the time value of funds, and the annual interest rate is 8.084%. Loan for two years, with annual interest rate of 7.9%; The loan term is 3 years, and the annual interest rate is 7.97 1%, all of which will be repaid by monthly installments.

According to the analysis of the credit card center of a bank, the "universal fund" business mainly has two selling points. First, the interest rate is lower than the credit card cash withdrawal, which is equivalent to the interest rate of personal consumption loans; Second, there are almost no restrictions on the use of funds, and users can take them at will.

As early as the beginning of 200 1, HSBC launched the "Universal Fund" in Hong Kong. Loan applicants can apply for a quota equivalent to about five times the monthly salary, up to HK$ 800,000. Apply for and approve the loan three months in advance, with no account management fee and annual interest rate of 13%. HSBC has some restrictions on the loan application conditions and repayment methods of loan applicants.

However, when Pupu released this service, it lowered the access standard. It is often only necessary for both parties to reach this service by telephone or fax. Almost every customer who receives the call will be told that this service will be specially handled for you because you are a high-end customer or a high-quality customer. However, some credit card customers have low original credit lines, and some even never use their credit cards. The standards for issuing quality customers are really low.

Shanghai Pudong Development Bank also has certain restrictions on "universal fund" customers. For example, customers have to pay 3% penalty for prepayment, but customers are encouraged to accept installment repayment. The calculation of interest and principal adopts the method of matching principal and interest, that is, paying more interest at the beginning and paying more principal at the later stage.

The insiders believe that this practice is suspected of legally cashing out under the guise of a credit card, which is exactly the same as the means by which some institutions use pos machines to cash out and collect handling fees, except that Pufa legalized this behavior by converting it into credit indicators.

In addition, under the current credit card system, banks are obliged to monitor the safety and situation of cardholders' card use. For the sake of credit card security, banks encourage credit card consumption rather than cash withdrawal in principle, because the latter is more difficult for banks to monitor risks. Credit cards are unsecured, and the risks are basically borne by banks. The withdrawal amount is usually limited to less than 50% of the total amount, and high interest and handling fees are set to increase the overdraft cost.

However, "universal fund" is the opposite. The interest rate has dropped by almost half compared with the pilot, which seems to encourage customers to cash out, and individuals can withdraw all the credit lines increased in debit cards. Although Shanghai Pudong Development Bank also requires that the purpose of withdrawal must be specified, and stipulates that if it is not used according to the purpose, it has the right to recover the loan. However, once the funds are withdrawn, the bank can't monitor the whereabouts of the funds at all, and the above provisions will be ineffective.

So this regulation may be a response to various laws and regulations formulated by PUFA, and there is another choice in the use of products: "Other", which may be the best interpretation of "General".

The credit line is converted into credit funds.

According to the regulations, personal credit can't be used for investment activities, and at the same time, the specific use of credit funds should be indicated, such as buying a house, buying a car and other consumer behaviors, and the "universal fund" is likely to make personal microfinance a cash source for some investors.

Compared with the complicated and strict personal regulations, "Universal Fund" undoubtedly provides an extremely simple and free personal micro-credit business, that is, credit card customers only need to call the bank a few days in advance to transfer money.

Universal cash cannot be withdrawn directly, but must be transferred to the applicant's debit card first, which is essentially a credit loan. The credit card limit is approved by the credit card department, but the "universal fund" limit is not within the credit limit. It exists in the form of a loan, which is a credit line issued on the basis of a credit card. The review of the credit line is generally decided by the credit department. The determination of the limit of "universal fund" is suspected of exceeding authority.

Increase the credit line on the "universal fund" line, the total number of customers is at most twice the original credit line, and the basic conditions of customers themselves have not changed. Banks rashly double the credit line to customers, lower the standard of personal credit granting in disguise, and enlarge the risk of bank credit assets.

Although there are no relevant laws and regulations to define the nature of bank credit card cashing, most banks have not opened this business, not because of its technical difficulty, but because of the operational risk brought about by the uncertainty of its risk control and behavior nature.

This is mainly manifested in that if the "universal fund" is a personal credit, it must be audited and supervised in strict accordance with the regulations; If it is a credit card loan, whether the part exceeding the original limit is a temporary limit or a permanent limit given by the bank; Whether the current overdraft interest rate 18% is suspected of unfair competition. And if it is a credit loan, customers should be allowed to repay in advance, and no liquidated damages can be charged.

If the above problems are not solved, the "universal fund" will be suspected of illegal operation. Moreover, banks add the same amount of cash to customers in addition to the credit line, which increases the monitoring of the whereabouts of cash, and the risk of malicious cash withdrawal by banks will be greater than that of credit cards. If it is not strictly regulated, it will easily lead to a sharp rise in the rate of non-performing assets of banks.

Pursue short-term profiteering

The insiders believe that the reason why Pufa dares to adopt "universal gold" may be related to its pursuit of short-term interests in the credit card field.

By the end of last year, the number of credit cards issued by Pudong Development Bank was about 6.5438+0.7 million, which was far from the more than 20 million cards issued by ICBC and China Merchants Bank. Even in joint-stock banks, it was not dominant, let alone profitable. Through the "universal fund" business, Pufa can activate some dormant cards that have not been used for a long time, and at the same time, for live cards with high utilization rate, it can increase interest income and revitalize existing credit card assets.

For example, a customer's credit line is 654.38+00000 yuan, and the bank deposits 654.38+00000 yuan in its debit card. The customer can withdraw the consumption at any time and repay the interest of 67.4 yuan every month, so the annual interest income is 808.8 yuan. The cash withdrawal by credit card is 1 0,000 yuan, which is 1 800 yuan according to the annual overdraft interest rate of 1.8%, plus the handling fee of 3%, which is higher than the interest income obtained by the "universal cash" method, but in fact only a few customers will return it after 1 year.

If the customer returns the withdrawn funds within one month, the overdraft interest earned by the bank is only 150 yuan, plus the handling fee of 3%, which is 150 yuan. The total income is 300 yuan, which is only about 37% of the business income of "Universal Fund". Moreover, the above income of the "universal fund" business does not include the overdraft interest income of credit card customers within the original credit limit, and at the same time, due to the simple audit procedure, the cost is greatly reduced, which is almost negligible.

Therefore, the "universal fund" business expands the loan amount as much as possible by setting the limit of customers' prepayment, which makes the bank's income far greater than relying on credit cards to withdraw overdraft interest.

3. Pufa Universal Fund: 200,000 yuan; 3-year interest: 65,000 yuan?

The principal is 200,000 yuan, and the interest for three years is 65,000 yuan, and the corresponding annual interest rate is 65,000 yuan/(2000,003) = 65,438+00.8333%. This interest rate is not low. General annual interest rate = interest/(principal × year).

At present, the international war between Russia and Ukraine is still going on, and the international economy and trade are greatly affected. Domestically, the economy is weak and the interest rate market continues to fall. The benchmark interest rate of one-year time deposit stipulated by the People's Bank of China is only 1.5%, while the interest rate of bank one-year time deposit is mostly around 2%, and the interest rate of one-year loan is mostly around 6%.

4. Does Shanghai Pudong Development Bank occupy the loan amount?

Pudong universal fund is divided into internal and external quotas. If it is within the limit, it is equivalent to cash advance. If it is outside the credit line, it will not occupy the credit line. On the day each bill comes out, calculate the current repayment amount within your available amount. For a simple example, the credit card limit is 50,000, and the extra universal fund is 200,000. If the universal fund of 200,000 yuan is used, it will be repaid in 36 installments, and each installment needs to repay 6,755 yuan. If you never use the credit card limit, your credit card limit will become 43,245 yuan after the monthly bill comes out, and your credit card limit will be restored to 50,000 yuan after you pay back the money. If you spend all the 50,000 credit card limit, after the credit card bill comes out, your available limit will be negative 6,755, and when you repay it in full, your available limit will become 50,000. In addition, the interest of universal money is not fixed, some people have low interest, and some people have high interest. If the interest is higher than 0.75%, try not to use it. It's a little high