Zhihu Hot Search: The interest on borrowing money is not very high. Why are there people who are badly hurt by online loans?

"Alipay loan interest is not very high. Why are there still people who have been beaten by online loans? " I went to Zhihu Hot Search again today, so what is the reason?

First of all, these are two questions.

Let's start with the conclusion:

Alipay loan interest is not very high, is it?

Answer: Compared with Internet credit, Alipay's interest rate is not high.

Why have people been beaten by online loans? Answer:

1, not everyone is qualified to open a loan.

2. Unlimited desire and limited repayment ability. The more you borrow, the more you fall into the whirlpool of borrowing.

3. Online lending platforms are mixed. If you are not careful, you will fall into the trap of routine loans and usury.

I. Interest-bearing method of Alipay loan

Interest on the loan is charged on a daily basis after borrowing, and there is no need to charge. The interest rate range of the borrowing day is 0.0 15%-0.06%. Because the comprehensive evaluation of each account is different, the interest rate is also different.

I calculated, 12 installment, and paid back in the form of equal principal and interest.

The daily interest rate of 3000 yuan is about 10.95% annual interest;

The daily interest rate of 1 ten thousand yuan is about 14.6% annual interest rate;

The daily interest rate of 1 ten thousand yuan is about 18.25% annual interest rate;

The daily interest rate of 1 ten thousand yuan is about 2 1.9% annual interest rate.

Generally, the daily interest on loans is around 14000 yuan, so the annual interest rate is 14.6%. Compared with those platforms that cost more than 15000 yuan, this rate is really conscience. However, compared with the bank mortgage interest rate below 10%, the borrowing interest rate is still relatively high. But I can borrow it. It's convenient after all.

Second, why would someone be beaten by online loans?

1, there is a threshold for borrowing.

Although borrowing is very useful, not everyone has a quota.

First of all, the loan is based on the comprehensive evaluation of some users' data before Alipay decides whether to grant the quota.

Secondly, even if some people have quotas, they are not necessarily high. Many users only have a quota of one or two thousand yuan.

Therefore, if money is urgently needed, users are either not qualified or the quota is not enough at all, so they can only go to other platforms.

2. The desire is unlimited, the more you borrow, the more you end up in the whirlpool of borrowing.

I want more and more, but I don't have an accurate understanding of my repayment ability.

Borrowed a number of online loans, robbing Peter to pay Paul, and the interest accumulated like snowballing. In fact, it was fine at first, but once something happened that made him unable to repay the loan, the borrower would start to "support the loan with the loan", and then the interest would roll to a state of "breaking blood".

3. Fall into the trap of routine loans and usury.

There are also many illegal lending platforms on the Internet. These platforms will publish advertisements containing false information such as "unsecured, unsecured and interest-free", and carefully design "routines" to attract users to lend and increase false debts. If the borrower needs money badly, it is easy to fall into the trap of routine loan.

The following is a real case:

The victim Anmou borrowed 62,000 yuan. Unable to pay back the money, the victim was taken to the hotel and detained for two nights. He was verbally threatened and forced to sign a loan of RMB 6,543,800+0,360,000. Then, the creditor sued the court and asked Anmou to repay 654.38+0.36 million yuan.

Previously, the head of the Criminal Investigation Bureau of the Ministry of Public Security revealed five routines of "routine loan":

0 1 forged the illusion of private lending

Criminal suspects often publicize in the name of small loan companies, investment companies, consulting companies, guarantee companies and peer-to-peer lending platforms. , and take low interest, unsecured, unsecured and fast loans as bait, solicit business through Internet, telephone, SMS, small advertisements and other channels, attract victims to borrow money, sign false loan contracts, and package them into ordinary private lending relationships. Then, under various excuses such as "increasing binding force", "liquidated damages", "security deposit" and "industry rules", the victims are tricked into signing various obviously unfair legal documents such as false loan contracts, mortgage contracts or power of attorney for the sale of real estate and vehicles, and some even require the victims to go through notarization procedures.

02 traces of manufacturing capital flowing water

After the criminal suspect transfers the inflated loan amount to the victim's account, it forms evidence that "the flow of funds in the account is consistent with the loan contract", and then collects high "beheading interest" in the name of quick trial fee, information authentication fee, account management fee, risk control service fee and agency fee. And recovered all or part of the money transferred to the victim's account, and the victim actually only got the rest of the money.

03 Deliberately manufacturing or arbitrarily determining breach of contract

On the pretext of deliberately losing contact and not answering the phone on the repayment date, the criminal suspect deliberately created or arbitrarily determined that the victim was in breach of contract, and the borrower was also burdened with other usury. Not only was the previous repayment amount cleared, but all inflated debts were also required to be repaid. The inflated debt is often several times or even dozens of times higher than the principal.

04 malicious base high loan amount

When the victim is unable to repay the loan, the criminal suspect arranges a designated affiliated company or personnel or plays his own role by deception or even coercion, and signs a new false loan contract with the victim with a large amount, so as to increase the debt amount layer by layer by "changing the single account into a flat account" and "repaying the loan with a loan".

The victim drank poison to quench his thirst under pressure, which seemed to solve the urgent need, but in fact he fell into a cliff-like debt abyss of "unclear"

Combine hard and soft to seize property.

When the debt base reaches a certain amount, the criminal suspect uses "soft violence" to infringe on the legitimate rights and interests of the victim and disturb the normal life of the victim and his close relatives, thus exerting pressure; Or use false contracts, IOUs, bank transfer records and other evidence to bring a civil lawsuit to the court, claiming the so-called "legitimate creditor's rights", so as to achieve the purpose of encroaching on the victim's property.

Third, how to calculate the real interest rate?

In order to solve the puzzle of interest rate conversion of various loans, we can use the magic formula IRR of EXCEL.

Different repayment methods occupy different time of principal, so when converted into the "real interest rate" calculated by one year's principal and interest payment. Need to calculate the time cost of principal. IRR function is a tool to help us compare the time cost between funds.

It doesn't matter if you don't understand the definition of IRR function. We just need to know that it can help us calculate the real interest rate of borrowing, and we can use it to calculate it.

The use of IRR function is actually very simple. Let me demonstrate: a loan 10000, paid off in 12 installments, each installment is 894 yuan, so what is the actual annualized interest rate?

1, the fixed time unit is month, and the total loan amount is 10000. The monthly cash flow is -894 yuan.

2. After listing the repayment amount of each installment, directly use IRR formula to calculate the monthly interest rate.

3. The formula for converting monthly interest rate into annual interest rate is = monthly interest rate * 12. Enter the formula and finally calculate the actual annual interest rate. The annualized interest rate of 13. 18% is not low.

The real interest rate of various loans can be obtained by IRR formula before general loans.

If you feel trouble, you can also use this money to spend the loan price comparison artifact to compare prices. As long as you enter the number of installments and the rate, you can quickly calculate the total cost. By comparing the money spent, you can know which product is more economical.