The differences between the equal monthly payments of Alipay's interest first and principal later are as follows:

1. Interest first and principal only need to be repaid in the early stage, and the principal will not be required to be returned until maturity. Equal monthly installments require repayment of the same amount every month, with each installment including principal and interest.

2. For the same borrowing amount, the interest paid by interest first and principal and equal monthly payment is different. For example, if you borrow 10,000 yuan, the daily interest rate is 0.03%, the principal and interest after interest is 1,098 yuan, and the equal monthly interest is 604.87 yuan.

3. The repayment pressure is different. The repayment pressure of interest first and principal later is concentrated in the last period, while equal monthly repayment means the repayment pressure is shared equally.

"Jiebei" now known as Credit Loan'' is a loan service launched by Alipay. According to different Zhima scores, users can apply for different loan amounts. The maximum repayment period of Borrowed is 12 months, and the daily loan interest rate is 0.045%. You can borrow and repay at any time.

On January 9, 2018, some user accounts were actively closed to control loan balances due to excessive leverage and violation of relevant central bank regulatory regulations.

According to news on November 8, 2021, it is reported that the name of Alipay's "Jiebei" has been changed to "Credit Loan". In response to this, Alipay customer service said that in order to facilitate you to understand the actual consumer credit service provider more clearly, the consumer credit services independently provided to you by the financial institutions that cooperate with Ant have been updated to "Credit Loan" and displayed on the Credit Loan page. Financial institution name. After this adjustment, the original borrowing, accounting, repayment and other services will not be affected.

Jiebei" is a loan service launched by Alipay. The current application threshold is a sesame score of more than 600. Depending on the score, the loan amount that users can apply for ranges from 1,000-300,000 yuan. Borrow The maximum repayment period of Bei is 12 months, and the daily loan interest rate is 0.045%, which can be borrowed and repaid at any time.

Currently, the consumer loans launched by e-commerce giants are mainly targeted at the consumption scenarios of this e-commerce platform. Installment, but with the continuous accumulation of personal credit data, personal credit loans for non-consumption scenarios are also being launched. The following is the actual experience of raising the amount:

1. Deposit Yu'ebao or Zhaocaibao ( Regularly), deposit 15,00 money, and you can basically withdraw it after 10 days, usually the limit is issued on the 1st-10th;

2. Download the MYbank app on your mobile phone, and then deposit money to Yu Libao, 10,00 If you save for one month, you can basically lend it out + a consumer loan of 10,000 from MYbank;

However, some netizens still complain about Uncle Jack Ma; one of the reasons why I am not optimistic about these Internet companies in finance is that they have not received these connections. The experience of users who cannot distinguish between interest and handling fees.

This part of the business will naturally have an impact on similar businesses of banks. After all, the scale of the major Internet giants is there. But not every industry is the same. Suitable for the Internet. The limit is too low and the principal is returned in installments, which is a bit useless and is destined to be difficult to replace the status of traditional finance.