Monthly interest = loan principal * monthly expected annualized interest rate of the loan.

Monthly expected annualized interest rate = daily expected annualized interest rate ×30

Online business loan is a financial loan service launched by Alipay. It is a pure credit personal business loan with low application threshold. It is reported that as long as the credit score reaches 550 points, you can apply, and different degrees of loans can be obtained according to different credit degrees.

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As a loan service, online merchant loan has the longest repayment period of 12 months, and the expected annualized interest rate on the loan day is 0.0 18%. I have to say that the loan interest is really low, which is very low in the current financial products, lower than all the loan products of Alipay. The expected annualized interest rate of the loan borrowed by Ant is at least 0.03%.

At present, online merchant loans support all or part of prepayment, and the prepayment interest of Alipay online merchant loans is 3% of the repayment principal. In other words, the formula for calculating the prepayment interest of Alipay online merchant loans is: prepayment principal ×3%.

For example, I borrowed 6.5438+0 million from an online merchant, and I have already paid back 500,000, leaving 500,000 unpaid. Now I want to prepay 300,000 yuan at one time, so the prepayment interest of Alipay online merchant loan is 300,000× 3% = 9,000 yuan.

Let's use other well-known loan products to see if the interest on prepayment of Alipay online merchants' loans is high.

Micro-loan is a loan product launched by Tencent Weizhong Bank, with a maximum amount of 300,000 yuan and a daily interest rate of no more than 0.05%. It adopts the form of installment repayment, which supports repayment with borrowing, and no handling fee is charged.

Yirendai is also a well-known online lending platform in China, which can provide you with a pure credit loan of up to 200,000 yuan, with a term of up to 48 months, a monthly interest rate of 0.78%- 1.89%, and prepayment interest = residual principal ×0.5%.

Renren Loan is a large-scale online lending platform with many hardcore users. Renren loan can provide you with a loan of 1 0,000-10,000,000 yuan, the longest term is 12 months, the monthly interest rate is 0.78%, and the interest for early repayment is 1% of the principal.

As can be seen from the above, the interest on prepayment of Alipay online merchant loans is still relatively high. Xi Cai Jun suggested that you must think twice before applying for prepayment, in case the loss outweighs the gain.