What is going on with borrowing can t be borrowed first and then the capital

The reason why the interest first and the principal after the principal is gone is because the borrower has canceled the repayment method of interest first and principal later.

Ants borrow. It is a microcredit loan, and the repayment method of using interest first and principal later cannot be well controlled.

There are two repayment methods for borrowing, equal amount and interest first and principal later, and the difference between the two of them is:

1.Equal principal amount.

It is the amount of the loan that is divided equally into each month, plus the interest generated from the remaining principal of the previous month, which is the amount due for the current month. The amount of money repaid each month will decrease sequentially.

2.Interest first and principal after principal is repaid every month, and the principal is paid off for the last time, and the interest is twice as high as the general equivalent method.

Extended Information] Ant Financial Services Group.

Hereinafter referred to as "Ant Financial."

It started with Alipay, which was established in 2004. In October 2014, Ant Financial was officially established. With the vision of "making a small but beautiful difference in the world", Ant Financial is committed to building an open ecosystem.

Through the "Internet Booster Program", we will help financial institutions and partners accelerate their efforts towards "Internet+" for small and micro enterprises.

and individual consumers to provide inclusive financial services.

Chinese name: borrow.

Interpretation: A loan service launched by Alipay.

Application conditions: sesame score of 600 or more.

Platform: Alipay.

"Borrow" is a loan service launched by Alipay, and the current application threshold is more than 600 sesame points. Depending on the score, users can apply for loans ranging from 1,000-300,000 yuan. The maximum repayment period of the loan is 12 months, and the daily interest rate of the loan is to borrow and repay at any time.

1] At present, the consumer loans launched by e-commerce giants are mainly for installments in the consumption scenario of the e-commerce platform, but with the continuous accumulation of personal credit data, personal credit loans for non-consumption scenarios are also being launched one after another. The following is the actual experience of Eagle Capital in the financial circle:

1) Deposit Yue Bao.

This part of the business will naturally have an impact on the bank's similar business, after all, the scale of several major Internet giants is there. But not every industry is suitable for the internet. The amount is too low, and the repayment of the principal in installments is a bit of a chicken rib, which is destined to be difficult to replace the position of traditional finance.

If you don't have the option to repay the loan with interest first, you can usually only repay the loan in equal monthly amounts.

Of course, in addition to the monthly equal amount and interest first and principal later, some borrowers will also provide a third repayment method, that is, the first 6 months of monthly interest payment (interest only), the next 6 months of monthly equal amount, then in addition to choosing the monthly equal amount, you can also choose this way to repay the loan.

It should be noted that the repayment method of borrowing is generally selected at the time of borrowing, and the optional method is determined by the system's comprehensive account evaluation, and cannot be intervened manually.

If the borrower does not provide the option of interest first and then this option, it cannot be forcibly selected (the optional repayment methods are subject to the page display).

The interest-first-post-principal system will generally provide high-quality products with good creditworthiness, which not everyone has.

If you want to borrow money in the future, you should pay attention to accumulating good credit, especially when repaying the credit products under your name, you must remember to repay it on time, and you must avoid overdue.

Otherwise, the credit will be damaged, not to mention the interest first and the principal later, and it is estimated that the borrower will not be able to borrow again.

Big data of online lending can reflect the real situation of online lending. If you have too many loans, it is recommended to check your credit data. Find:

Shell tip quick check, can generate big data reports. Although there is a difference between the two, in order to avoid the situation that individuals are unable to repay bad debts, bank loans will also pay attention to the big data credit situation, and bad credit will affect the rights of many aspects.

Extended information: What should I do if I can't borrow it, can I negotiate?

According to the official information of borrowing, borrowing does not support deferred repayment and negotiated repayment, and the lender needs to repay the loan on time and in full in accordance with the requirements of the loan contract to maintain credit information.

If you can't repay the loan, the lender must raise funds in time, and you can borrow money from relatives and friends to relieve the pressure of borrowing bills first.

Not only does the borrower not support negotiated repayment, but the loan contract has been determined after the lender applies for the loan, and the loan contract cannot be changed in the future, which means that the lender cannot repay the loan in installments on the basis of the installment repayment, and must repay the loan according to the contract.

As a formal credit product, borrowing will first affect the credit investigation after it is overdue, and then the platform will also collect the lender's penalty interest, and the loan has not been settled, and the penalty interest pressure will always exist, which is much more than the loan interest.

Therefore, in order to avoid a series of consequences after the deadline, the lender should not be impulsive before applying for a loan, and must fully consider the personal financial ability, and the higher the amount of the loan, the better.

1.It could be that the user is not eligible.

2.The repayment method of the borrower is given after the evaluation of the system, and there is no repayment option of interest first and principal later, indicating that the user does not meet the conditions for interest and principal repayment, so the system does not give the option of interest first and principal repayment. Different users have different credit qualifications, and the repayment methods that borrowers have are subject to the display on the loan page.

3.In addition, there is no repayment option of interest first and principal later, so it is the default monthly equal repayment, and the monthly equal repayment spreads the repayment pressure to each month, which also reduces the risk of overdue.

4.Borrowing interest before principal is not a big taboo for loans. One of the repayment methods of borrowing is interest first and principal later, but only very few users with excellent credit qualifications can choose to repay the loan with interest first and principal later.

In addition, the borrower only needs to repay the interest in the early stage and the principal in the last installment, so the user needs to have a strong repayment ability. In addition, if you choose to repay the loan with interest first and then the principal, you can still repay the loan in advance or pay it off in advance, as long as the user is not overdue, then you can continue to apply for the loan in the future.

Extended Materials. What is borrowing.

1.Ant Loan is a creditworthiness-based consumer lending service launched by Ant Financial, a subsidiary of Alipay, which is committed to building an open ecosystem that integrates the world with the Internet and brings small but beautiful changes to the world. Ant Borrowing is one such financial tool that provides HP financial services to private small and micro enterprises and individual consumers.

It has a good evaluation and enthusiastic response among a large number of people in the society. Customers can borrow according to their Sesame Credit score, and the maximum borrowing period is 12 months, and they can borrow and repay at any time. This is the Ant Borrowing launched by Ant Financial.

2.Borrowing is a borrowing service launched by Alipay for personal consumption, the system according to the use of each account, the approved borrowing amount, interest rate is also different, up to 300,000 yuan can be borrowed, the daily interest rate range is, support early repayment, daily interest. In addition, the borrowed amount is directly lent to the Alipay account and the bound bank card, which can be used for personal consumption, decoration, travel, etc.

The interest before the principal function of borrowing is only open to some customers, and the absence of the interest before this option means that the user's credit qualification conditions cannot meet the standard, and the borrowing system does not support the user's interest before the principal. Note: The interest-first and principal repayment method means that only the interest is repaid every month, and the principal is repaid for the last time, and the interest is twice as high as the ordinary equal amount method.

If the user wants to have the option of interest first and principal later, he needs to maintain a good credit status and repay the loan on time in each installment, and the system may open the option of interest first and then this cost.

Borrow. The main step of interest recovery is to repay all the principal and interest of the current period in the last installment, which is subject to the results of the system assessment.

1. Under normal circumstances, all the quota can be restored after the arrears are paid off, but there are some cases where the quota will not be restored, and the quota is still 0 after repayment.

2.If users want to be able to recover the limit smoothly after repaying the loan, it is best not to have bad behaviors during the repayment period, such as borrowing and Huabei.

Overdue repayment, using Huabei to cash out, etc., and to show their spending power as much as possible, and improve the comprehensive score from many aspects.

Extended Information: The Disadvantages of Borrowing.

1.Borrowing cannot be overdue, I believe this is common sense that many people know. Alipay's borrowing is different from Huabei, Huabei will not repay for a few days after it is overdue, but will receive a collection text message or **, which will not be immediately included in the personal credit report.

But borrowing is directly linked to our personal credit, that is to say, your every move in borrowing will be reflected in the personal credit record, so the overdue repayment of borrowing will be the same as a credit card, and it will be reported to the People's Bank of China on the same day.

Registered on the personal credit report.

It's not good for yourself, in Ant Financial.

In the view of the credit review department, early repayment is also a kind of "not repaying the loan at the agreed time".

3.The main reason why many people use borrowing is for capital turnover, thinking that as long as they have money, they will pay it back immediately, without incurring so much interest, and they will not have a bad record because of overdue.

4.But Alipay doesn't think so, because the interest on borrowing is calculated according to the actual number of days of borrowing, when you borrow to go through the borrowing procedures, you will generally be asked to choose the repayment time, although the agreement says that you can repay at any time within the agreed time, but frequent early repayment, Alipay will not receive the originally expected interest. For Alipay to come.

said that if such a thing happens frequently for a long time, there is no money to be made, and naturally you will not be given a boost. Therefore, many people's borrowing has been used for a long time and has not been raised, which may be the reason.

5.The above introduced to you the importance of borrowing and repaying on time, so the next point is everyone's habit of using the Alipay app, and if you don't maintain good usage habits, it will also affect everyone's borrowing function. Although Alipay has a lot of various functions, don't forget that the essence of Alipay is a financial app, its main purpose is to make profits, and those convenient functions are set up to increase user stickiness.

If you rarely use Alipay to pay, and you basically don't buy things on **, then the Huabei and borrowing functions are almost impossible for you. In other words, if you don't use Alipay to pay frequently, even if Alipay has opened a loan for you in the promotion stage, it will be turned off at any time.

Operating environment: Redmi K30PRO Alipay.