The interest rate of small loans is based on the daily interest rate. For users who apply for micro-loans for the first time, the daily interest rate is 0.05%, and the converted annual interest rate is 18%. However, for customers who use it frequently and keep a good repayment record, the daily interest rate can be reduced to 0.02% at the lowest, and the corresponding annual interest rate is 7.3%. Micro-loan is an Internet micro-credit product launched by Tencent. It relies on two social platforms, WeChat and QQ, to provide users with convenient lending services. Micro-credit has won the favor of users with its simple and fast operation process and low threshold since it was launched on 20 15.