Is the service charge for IOUs interest?

The service charge of IOUs is not interest.

1. The official has made it clear that he is not interested in it. In the process of using IOUs, users need to pay a certain service fee, but this fee is the consideration for using IOUs and has nothing to do with loan interest.

2. The IOUs service fee is the fee that users need to pay to the platform when using IOUs for installment payment or deferred repayment. This fee is calculated according to the user's order amount, installment times, extension days and other factors. Interest is the loan reward that the borrower needs to pay to the creditor, which is essentially different from the service fee of IOUs.

Precautions for using white stripes:

1. Know the charging standard of IOUs: Before using IOUs, users need to know the charging standard of IOUs, including charging items, charging standards and charging methods.

2. Pay attention to the rational planning of consumption and repayment plan: Although the use of white bars can bring convenience and preferential treatment, users also need to make reasonable plans according to their actual conditions to avoid excessive consumption and overdue repayment.

3. Inquire about bills and repayment records in time: Users need to inquire about their bills and repayment records regularly, and know their arrears and repayment plans in time.

4. Avoid using unreasonable deferred repayment methods: users need to pay attention to avoid using unreasonable deferred repayment methods and avoid high interest and service fees.

Advantages of white stripes:

1, convenient and quick: You can shop and spend conveniently and quickly by using white strips, without carrying cash or bank cards.

2. Preferential discounts: You can enjoy certain preferential discounts by using white bars, such as interest-free coupons and discount coupons.

3. Credit limit: Baitiao platform will provide a certain credit limit according to the user's credit situation, which is convenient for users to spend and pay by stages.

Disadvantages of white stripes:

1. Higher service cost: Compared with ordinary payment methods, the service cost of IOUs is higher, which may increase the shopping cost of users.

2. Consequences of overdue repayment: If the user delays repayment, it may generate high interest and service charges, which will affect the user's credit history.

3. Risk of information leakage: When using white strips, sensitive information such as users' personal information and bank card information need to be submitted, and there is a risk of information leakage.

Legal basis:

Interim Measures for the Administration of Personal Loans

Article 11

Personal loan application shall meet the following conditions:

(a) the borrower is a citizen of People's Republic of China (PRC) with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;

(2) The purpose of the loan is clear and legal;

(3) The amount, duration and currency of the loan application are reasonable;

(4) The borrower has the willingness and ability to repay;

(5) The borrower's credit status is good and there is no significant bad credit record;

(6) Other conditions required by the lender.