1. Micro-loan is a micro-credit product under Weizhong Bank, the first internet bank in China. The bank products are strictly regulated, which is naturally more formal, reliable and trustworthy.

2. Micro-loans can be repaid as they are borrowed, and there is no penalty for early repayment, and interest is calculated according to the actual borrowing days. Daily interest = remaining unpaid principal × daily interest rate. The less principal after monthly repayment, the less interest. There are no other expenses except loan interest. Compared with other lending products, micro-loan is still good.

Extended information:

1. Will micro-credit affect personal credit?

Micro-credit on WeChat is a loan product of Weizhong Bank. Usually, bank loan products will receive credit information. However, only users can repay the loan on time and maintain a good repayment record, so personal credit will not be affected. If a user fails to repay the loan within the specified repayment period after applying for a loan from a micro-loan, the overdue repayment will be recorded in the user's personal record, which will leave a stain on the user's personal credit. Later, whether the user applies for a loan or applies for a credit card, it may be affected, and the micro-loan will charge overdue interest, with overdue interest = overdue principal * daily interest rate * overdue days+penalty interest = overdue principal * daily interest rate * 5. For example, the overdue principal is 2, yuan, and the daily interest rate is .5%. For one day overdue, the fees to be paid are 2 * .5% * 1+2 * .5% * 5% * 1 = 1.5 yuan.

second, how to calculate the interest of micro-loans?

The default repayment method of micro-loan is average capital, but it also supports prepayment and daily interest, so we can directly apply the formula when calculating the interest of micro-loan: interest = remaining loan amount * daily interest rate * loan days.

1. For example, if you borrow 3, yuan from a micro loan, the daily interest rate is .5% and the loan period is 1 days, then the interest = 3, * .5% * 1 = 15 yuan. It should be noted that, because the micro-loan adopts the repayment method of average capital, if your loan term exceeds the next repayment date, the remaining loan amount will be reduced accordingly.

2. For example, if you borrow 3, yuan from a micro loan, you will pay back 373.5 yuan on the first repayment date, in which the principal is 3 yuan and the interest is 73.5 yuan, so the remaining loan amount is only 2,7 yuan. Therefore, the interest of the second installment =27*.5%*3=4.5 yuan, and the interest of each installment will gradually decrease in the future, because your remaining loan amount has been decreasing.