The interest rate of Tik Tok secured loan is not high. The daily interest rate is generally between 0.03% and 0.05%, and the annual interest rate is about 10.8%- 18%. The specific daily rate needs to be based on the actual loan page. Interest shall be calculated on a daily basis, as many days as possible, starting from the day when the user successfully borrows money. Tik Tok can rest assured that it will support prepayment and the interest will be charged until the last day. Whether the repayment needs to pay the handling fee depends on the loan contract signed.
The loan interest is not fixed. If the user's personal qualification is good, the loan interest rate may be lower than that of ordinary users, because the system gives the loan interest rate according to the user's personal credit. It should be noted that the repayment date of Tik Tok guaranteed loan cannot be changed once it is determined. The repayment date is usually the user's borrowing date. Users can view it in their own "Loan" interface, and you can see the specific installment repayment amount and repayment date.
What are the precautions for online lending?
1. Capital security
Whether the platform has third-party payment for fund custody is an important index to evaluate the security of an online financial platform. As you can imagine, when a platform gets bigger and bigger, the fund account may even be tens of millions. Without a third party to do fund custody, the money in this account is equivalent to the ATM of this platform. It is conceivable that ATM can withdraw cash at any time, and investors' funds cannot be guaranteed at all.
2. The credibility of the platform
Most of the online lending platforms that run the road have imperfect or false information about the "three certificates". Therefore, on the selection platform, the "three certificates" information and platform introduction are the most basic materials of the website. Investors can also watch the activity of information released by the platform, the evaluation of investors, and whether there is any reporting experience.
3. Platform interest rate.
At present, the interest rate of the new online lending platform is generally relatively high. It is nothing more than hoping to attract investors through high returns, which may make the website quickly gather popularity in a short time. But this rate of return is much higher than the risk of the rate of return of bank wealth management products. Have you considered for investors? These platforms have some similarities. First, the return is extremely high. Second, it has not been tested by a third-party online lending platform. Third, transparency is not as good as mainstream online lending websites. So accepting a platform with lower interest rate is not a bad thing, it will bring you a sense of stability. The online lending platform is a platform for investment and financial management, not a place with extremely high risks to play "usury".
4. Diversify investment and reduce risks.
In the face of unknown risks, the most appropriate way for investors is not to put eggs in one basket. They can diversify their investments, go to multiple online lending platforms to experience, then analyze the advantages and disadvantages of each platform, and finally come up with their most satisfactory investment plan. This is also the most direct and effective method.