Reminder: This product is only used by friends who have applied for Pudong Development Credit Card. If you haven't applied for a card, you can't apply for cash installment temporarily.
As the name implies, Shanghai Pudong Development Bank's fresh meat loan is a staged product tailored for young people, so the application threshold is very low and the interest handling fee is relatively not particularly high. Suitable for small partners who have just started working and entrepreneurs who are in urgent need of funds.
Payment by installment:
1, charged in installments
For cash installment products charged by installments, the monthly repayment principal and interest shall be calculated in the form of equal principal and interest. The monthly repayment amount is equal to the sum of the total installment principal and expenses divided by the number of installments, accurate to the minute. Distribution will be made on the first billing day after the successful application for installment, and will be recorded in installments on the billing day of each period, and the rest will be included in the last period.
2. One-time charge
The total handling fee shall be recorded in one lump sum on the first billing day after installment payment; The repayable principal of each installment is equal to the total amount of installment principal divided by the number of installments, accurate to the minute, and will be paid on the first billing day after the installment application is successful, and will be included in each installment on the billing day, and the rest will be included in the last installment.
Let's look at the number of periods and the commission rate:
Take chestnuts for example. If Xiaoming applies for fresh meat loan of RMB 65,438+02, the installment fee is:
1) installment payment (monthly)
10000 * 7.12%/12 = 59.3 yuan.
2) One-time payment of handling fee (first month)
10000 * 7.12% = 712 yuan.