It is reported that Sesame Credit is scored mainly from five aspects: identity, behavior preference, performance ability, personal relationship and credit record. The system automatically evaluates and judges according to these scores and gives users credit lines.
As for loan interest, there are two kinds of loans, personal consumption loans to buyers, with an expected annualized interest rate of 0.04, and Taobao credit loans to sellers, which seem to be related to shops and personal credit, but generally seem to be lower than the expected annualized interest rate of personal consumption loans.
The interest rate on the loan date will be comprehensively evaluated according to the account and personal credit situation. So different accounts have different interest rates. Specifically, the content displayed on the borrowing page shall prevail.
Daily interest calculation formula = unpaid principal * daily interest.