Online lending platforms always like to play word games on the daily interest rate, such as the common interest expression: "the daily interest rate is as low as 10000.5" and "the one-day interest for borrowing 65438+ 10000 is only 2.5 yuan", etc ... Different repayment methods and fancy publicity make many people mistakenly think that the borrowing interest rate is very low, and the real annual interest rate is far beyond imagination!
For example, some online lending platforms claim that the daily interest rate is as low as three ten thousandths! Is it expensive to borrow 1000 yuan a day with interest from 3 yuan to 4 yuan? Many people think that 3 yuan 4 yuan is just the price of a bottle of water, not expensive! In this regard, we simply calculate that the daily interest rate is 0.9%- 1.2%, the loan is 1 ten thousand yuan, the time is 1 year, and the interest is 1080 yuan to 1440 yuan. (The annual interest rate is 10.8% to 14.4%)
What is the concept of this annual interest rate? Let's compare it with the bank loan interest rate.
The loan interest rates of the four major banks are 4.35% for loans under 6 months (inclusive), 4.35% for loans from June to 1 year, 4.75% for loans from 1 year to 3 years, 4.75% for loans from 3 years to 5 years, and 4.9% for loans over 5 years.
Without contrast, there is no harm. It sounds like the interest rate is not high, but the real interest rate is ridiculously high. However, it is not easy to get low-interest loans from banks.
Generally speaking, on the surface, consumer loans such as spending money and borrowing money are convenient and affordable, but there is a trap of high interest rates behind it. Friends who like to spend in advance, don't be blinded by their declared low interest rates, spend rationally within the range they can afford, and don't inadvertently carry high debts. Finally, I hope everyone can see through the routine and take care of their wallets.