How about Xiaomi loan? What are the consequences of early repayment?

Everyone knows about Xiaomi mobile phones, but friends who are not involved in finance may not know about Xiaomi loans. Its nature is similar to that of Alipay borrowing, but the threshold is more relaxed than borrowing. As long as you have a Xiaomi mobile phone Users can basically apply for a loan amount, but the amount is different.

It is understood that the minimum loan amount of Xiaomi Loan is 500, and the maximum amount is 1 million. The loan interest rate is 0.5% of the daily interest rate. Compared with Jiebei and Baidu Youqianhua, the interest rate for high-quality users is still preferential. A bit weak.

Users who are overdue on Xiaomi loans not only have to bear higher overdue fees, but the daily interest rate is 0.75, which is 15 times the normal interest, and Xiaomi loans are listed on the credit report.

If the loan is overdue for a long time and does not repay, Xiaomi Loan will register the overdue record to the central bank's credit system, which will cause inconvenience to the individual's loan and life. So if you take out a loan, you must repay it on time.

What are the consequences of early repayment of Xiaomi loans?

Most micro-loan platforms support early repayment, but many require payment of repayment interest, or charge the interest in one lump sum when borrowing.

If you make early repayment on Xiaomi Loan, the interest will still be charged normally. It is not settled based on daily interest like borrowing money. Even if it is repayment in advance, the interest will be charged for the remaining few months. Interest will also be calculated.

Moreover, early repayment of Xiaomi loans has a certain risk, which may cause personal Xiaomi loans to be closed, but it has no impact on personal credit reports.

According to netizens, its Xiaomi loan was closed after early repayment, and no more loans can be made. Moreover, after the issuance of the national small loan policy in 2017, Xiaomi loan also tightened its business. Many friends’ small loans The loan business has been closed, and only insurance and fund-related financial management can be done.