First, calculate the repayment amount of each installment. 12,400 yuan will be repaid in 9 installments, and the repayment amount of each installment is12,400 yuan /9 installments = 1377.78 yuan.
Then, calculate total interest. Total interest = total repayment-loan amount = 1377.78 yuan/period *9 periods-12,400 yuan = 2,000 yuan.
Finally calculate the annualized interest rate. Annualized interest rate = total interest/loan amount * 100%=2000 yuan/12400 yuan *100% =16.13%.
According to the calculation results, the annualized interest rate of this loan is 16. 13%. Generally speaking, the annualized loan interest rate below 10% can be considered as a low interest rate, between 10%-20% can be considered as a general interest rate, and above 20% can be considered as a high interest rate. So according to this standard, the interest rate of 16. 13% can be regarded as a general interest rate, not a particularly high interest rate.
When many people apply for online loans, they will be told that they are black households with insufficient comprehensive scores. If it is not a black household caused by overdue, then we must find other reasons, such as whether the frequency of applying for online loans is too high. If you are not clear, you can check Changbai data. As long as you know what causes you to become a black household, you can improve online loan big data according to the reasons.