However, it should be noted that the longer the number of installments, the more fees need to be paid. At present, the auction loan charges 2% of the principal for the third and sixth loans and 4% for the 12 loan.
The handling fee will be deducted directly from the loan amount, that is to say, you can only get 48,000 yuan from the loan of 50,000 yuan 12.
It is worth mentioning that the loan can be repaid in advance after installment. But if a part of the loan is repaid in advance, the interest will not be reduced. If it is paid off in one lump sum, the interest will be calculated according to the loan days.