For borrowers, the level of interest always directly affects their choices. Who doesn't want to choose low-interest loan products to minimize the interest expenses paid when the loan expires? However, under the unified control of the central bank, the interest rates of major banks are not much different. Therefore, some borrowers have turned their attention to small loan companies with lower application threshold, and Jiecredit is one of the preferred choices for borrowers. So, how do you know about how to calculate the interest of Gitzo loan for friends who choose Gitzo loan?

According to many netizens, after Gitzo's loan is paid off, it often needs to pay more than the original price of the product 1000 yuan. So is this share the interest of Gitzo loan? To understand what this cost is, we must first understand how the interest of Chujiexin's loan is calculated. Generally speaking, consumers can apply for Gitzo installment payment as long as they buy goods in the agreed shopping mall of Gitzo loan. Down payment 10%-30% will be repaid in 3, 6, 9 and 12 installments according to the nature of the goods. So why is the total cost of Gitzo after repaying the loan much higher than the original price of the product? It turns out that the monthly repayment fee of Gitzo loan includes service fee, which includes two items besides interest: customer service fee and guarantee fee. After careful calculation, the annual interest rate of Gitzo's installment payment exceeds 30%, which is the fundamental reason for the high interest rate of Gitzo's loan. However, because of the agreement of Gitzo and some shopping malls, consumers choose Gitzo to pay by installment and can quickly buy goods that they can't afford for the time being. Moreover, Gitzo's loan application threshold is low and easy to handle, so it is favored by young consumers.