Which loan is micro-instalment?

Micro-Instalment is a loan company that allows you to apply for loans, but this Micro-Instalment does not cooperate with the national bank's personal credit record. Once it is overdue, you will be subject to violent debt collection.

1. Reminder about micro-instalment

There is a pitfall that you must avoid: checking your credit record such as Weilidai will affect your application for a loan! The loan platform reported to the People's Bank of China on the grounds of "loan approval" Check your personal credit record. Regardless of whether you have a loan or not, the People's Bank of China will consider you to have applied for a loan. If your personal credit is frequently queried, the People's Bank of China credit system will consider you as a user who is very short of money, which will affect subsequent loans. There are very few financial products and investment channels with yields higher than loan interest rates. If they exist, the risks are high. Alipay online commercial loan daily interest rate: 0.04%, corresponding annual interest rate is 14.6%; WeChat Weili loan daily interest rate: 0.05%, corresponding annual interest rate is 18.25%;

2. Micro-installment interest

The interest rate of micro-instalment is very high, so it is not recommended for everyone to use micro-instalment borrowing. After using micro-instalment, many people feel that they have been cheated because they are unable to repay the interest due to excessive interest. Moreover, online loan platforms like this type are not merciful. Once you cause an overdue situation, if it is a formal If so, the borrower's credit report will be blacklisted. But if it is irregular, they will choose the method of violent debt collection. Violent debt collection refers to calling the contacts in your address book multiple times, and calling the place where you work or live to collect the debt.

3. Summary.

If you need money urgently, you must go to a regular bank or an online loan platform to borrow money. Most of these online loan platforms without national certification are scams and will only make everyone deceived. Therefore, it is not recommended that you borrow money from these online loan platforms, as it will affect personal credit problems. Moreover, if you borrow money from these online loan platforms for a long time, it will be impossible to apply for a loan to buy a house or a car from a bank in the future.