The repayment period of micro-loan is 5 months, 10 month and 20 months, and the daily interest is calculated at 0.05%. The repayment method is average capital.
For example, the loan amount is 654.38 million yuan and the loan period is 654.380+00 installments. The daily interest of the first installment is 5 yuan (10000*0.05%). After paying off the first installment, the remaining principal is 9000 yuan, so the daily interest is 4.5 yuan (9000*0.05%), and so on. The less the principal, the less the interest.
Small loans can be repaid in advance or at any time, but not frequently. There is no penalty interest for early repayment, and the deadline for interest calculation is the repayment date.
Extended data:
1
The loan interest rate was lowered and the risk control was tightened.
Regarding the reduction of the loan interest rate, the relevant person in charge of Weizhong Bank publicly replied that the average interest rate of micro-loans has shown a downward trend since its launch, mainly due to the continuous decline in the operation and maintenance costs of the Bank's accounts, which further laid a solid foundation for continuously optimizing business pricing and practicing inclusive finance.
In view of the difference in interest rate cuts of loan customers, Weizhong Bank publicly stated that micro-loans will be comprehensively evaluated by the system according to the changes of users' own conditions, and their interest rates and quotas will be adjusted. It is normal for some users to experience a decline in personal loan interest rates.
In fact, in the 20 18 annual report released by Weizhong Bank on May 9, 20/kloc-0, Gu Min, its chairman and CEO, mentioned that "the average interest rate of new loans of Weizhong Bank dropped by nearly 1 percentage point, among which small and micro enterprises dropped by more than 2 percentage points."
The loan interest rate has been lowered, and the requirements for banks' risk control and other capabilities have been further improved. Ouyang Rihui, deputy dean of China Internet Economic Research Institute of Central University of Finance and Economics, said that while reducing the loan interest rate, the bank's risk control requirements have also increased accordingly. Banks use big data and other technologies to strictly control the use of loan funds and accurately select customers with good reputation and potential. To some extent, forcing banks to cut lending rates on a large scale is also unsustainable.
The tightening of risk control means that the credit line of high-risk users may be reduced or even closed directly. As a result, Weizhong Bank may "give up" some lower-level customers.
Ouyang Rihui added: "If the scientific and technological means of banks are not perfect and the risk control mode is conservative, traditional means such as doing everything possible may misjudge customers. Even if the judgment of customers is correct, some non-quality customers will naturally be rejected, and they can only go to lending institutions other than banks to find private loans with loan interest rates generally above 18%. "
2
Reduce profits and test the ability of cooperative institutions.
According to the data of Weizhong Bank's 20 18 annual report, micro-lending is a joint lending model that * * * bears the benefits and risks. According to the Economic Observer, 80% of the loans granted by microfinance are provided by cooperative financial institutions.
Judging from the information disclosed by official website of Weizhong Bank, the scale of its cooperative institutions is considerable. * * * There are 86 institutions on the list, including 34 banks, such as The Export-Import Bank of China and Ping An Bank. There are 33 securities and fund companies, such as CITIC Securities and southern fund. In addition, there are 19 insurance companies and consumer finance companies.