China re margin insurance loan

Compliance and usury? Borrowing costs are ridiculously high.

Borrower A revealed to us that he borrowed RMB 654.38+million from Sunshine Credit Insurance, and the lender was China Everbright Bank, and repaid RMB 4,892 in 36 installments, including the premium charged by Sunshine Credit Insurance 1892, with the total premium as high as 68 1 12 yuan.

According to IRR formula, the comprehensive annualized interest rate of this loan is 465,438+0.38%.

Borrower B revealed to us that when he was in Dida, he borrowed 97,000 yuan from Chengdu Branch, and the lender was China Everbright Bank, which repaid 4,437.96 yuan in 36 installments, including the premium charged by Dida Insurance 14 16.2 yuan, with a total premium of 50,983.2 yuan. In addition, Party B is also required to purchase accident insurance of RMB 65,438+RMB 0,038 from Dida Insurance.

Even if accident insurance is not considered, according to IRR formula, the comprehensive annualized interest rate of this loan has reached 35.95438+0%.

Although some people argue that if there is no insurance company guarantee, the borrower can't borrow from the bank, and the rate is supervised by the CBRC, and the business is in compliance. But this explanation can't hide the fact that the borrower's borrowing cost is extremely high.

In the similar cooperation between banks and insurance companies, insurance companies play the role of lending institutions that can provide guarantees. Only insurance companies are eligible to directly charge borrowers high premiums, while some lending institutions in the market charge extra fees by bundling accident insurance and service fees, which is essentially the same.

In addition, similar to other lending institutions' beautification of loan interest rates, insurance companies often take advantage of the weakness of borrowers who don't understand loan interest rates and are in urgent need of money, deliberately concealing some details about specific charges.

Stealing the concept, the cost explanation is vague.

Borrower B mentioned that he made it clear that he didn't want to find an intermediary when he borrowed money, because the cost was too high, but he finally fell into the trap of land loan.

The monthly interest here is the monthly premium 14 16.2 yuan, and the salesman expressed it as "interest charged by Dida's term loan". After calculation, the annualized interest rate of this "interest" is actually 28.3 1%, which is much higher than the salesman's introduction. In addition, the salesman did not mention the interest charged by the lender Everbright Bank.

After handling the loan, Dida Shidai did not give the borrower the contract, insurance policy and other information, and the salesman explained that it was not needed.

That is to say, during the loan process, Borrower B was only told that the loan would charge interest of 1.3- 1.4, and other information was intentionally concealed by the salesman.

Borrower B said that he should at least have the right to know and then choose whether to lend the money. It is understood that it has become an industry practice for insurance company salesmen to downplay the concept of insurance and interpret premium as interest.

In addition, for the accident insurance of RMB 1038 that Dida Time Loan requires Borrower B to purchase, since this accident insurance has nothing to do with the loan behavior, we speculate that this is a unilateral compulsory behavior of Dida Insurance Company or its salesmen. This is suspected of violating a number of regulatory documents issued by the China Banking Regulatory Commission earlier this month, including the Notice of the General Office of the China Banking Regulatory Commission on the Remediation of Infringement of Consumer Rights and Interests by Banks and Insurance Institutions.

There are various means, and violent collection by insurance companies is undignified.

Borrower A told us that on the repayment date of each month, Sunshine Insurance violently demanded money from itself, and later frozen its Everbright bank card, but I don't know which one it was based on.

Borrower B told us that Dida Shidai began to call and send text messages to urge deposits three or four days before the monthly repayment date. If it doesn't save money, it will call the borrower frequently and make him very tired.

There are many similar incidents on third-party platforms.

65438+1October 65438+March, Ms. Hao posted a complaint that she borrowed 80,000 yuan from China Everbright Bank through Zhengzhou Dida Time Loan, and has been steadily repaying it 14 months. Due to business failure, it is overdue. I took the initiative to negotiate with Dida Time Loan for many times, hoping to settle the arrears on October 23, 2065438+09165438/KLOC-0. However, Dida's bad attitude towards regular loans forced Ms. Hao to borrow money from relatives and friends. At the same time, they often harass Ms. Hao's friends and family.

In another case, Mr. Zhou said that he applied for a loan of RMB 6,543,800+RMB 4,000 in Tianjin Sunshine Insurance Hexi Store.

We believe that insurance companies, as regular troops, should take more humane measures to reduce the harassment, abuse, threat and freezing of bank cards.

In the dispute of rates, insurance rates need to be standardized urgently.

According to the premium rate charged by the insurance company, the premium paid by the borrower is equivalent to about 30%-36% of the loan principal, plus 5%-7% of the bank's annual interest rate. The actual cost borne by the borrower is about 40% at an annual rate, even not lower than many online lending platforms and small loan companies. Insurance companies and banks are significantly more binding, and the overdue bad debt rate will be much lower.

Judging from the premium price, Borrower A borrowed 654.38+10,000 yuan and paid a premium of 6865.438+065.438+02 yuan; Borrower B borrowed 97,000 yuan and paid the premium of 50,983.2 yuan. After deducting other costs, two of the three borrowers can make money by paying back normally, which is obviously easy for insurance companies to do.

According to the financial report, Dida Insurance's non-auto insurance premium income was 2015154 million yuan, of which the guaranteed insurance premium income was 4.993 billion yuan, up 90.4% year-on-year. The person in charge of Dida Insurance once told the media that the rapid growth of guarantee insurance benefited from the rapid development of personal loan guarantee insurance business. However, some insiders said that loans are ostensibly insurance, but in fact they are engaged in loan-related business.

Related questions and answers: How to get a loan from Dida Time Loan? First of all, Dida Time Loan itself is not a loan, but a personal loan guarantee insurance business brand under China Dida Insurance. If the customer is successfully insured, he will have the opportunity to get a loan from a cooperative bank; Secondly, according to the different qualifications of customers, Dida Time Loan has launched products that meet the needs of different groups of people as much as possible, both unsecured and mortgaged. At present, there are only real-time loans for mortgage products, while others such as Youxin, Owner's Loan, Social Security Loan, Life Insurance Loan, Owner's Loan and Youye Loan are unsecured products.

Related questions and answers: Which financial company is better for Ping An Pratt & Whitney and Dida Time Loan, and are you ready to join the company? First of all, Ping An Pratt & Whitney and Dida era were engaged in loan credit guarantee insurance. Secondly, the model of Ping An Pratt & Whitney is at the forefront of the industry. There are not only Ping An property insurance, but also Fu Deng guarantee, lufax small loan and loan through train. Although Ping An Pratt & Whitney in the Dida era used the investor's money to package and lend products, the model in the Dida era relied on the credit guarantee model, and Pratt & Whitney could guarantee+guarantee+small loan. Pratt & Whitney's leverage flexibility is not an order of magnitude higher. In terms of funds, Pratt & Whitney has a wider range of funds channels than earth times. Judging from popularity and advertising, Pratt & Whitney's funds are bloody, and its channels are greater than earth times's, whether online or offline, or scene docking. From the perspective of product framework, basically all products on the market are adjusted according to the framework of Ping An New Generation. In terms of market share, Ping An Station has a 90% share. From the background, Pratt & Whitney shares peace.

On the whole, Ping An Pratt & Whitney is a credit factory, and each link operates independently, with high efficiency. However, earth times still belongs to the big data evaluation +ipc mode, and its overall efficiency is relatively low.

The key point is that Pratt & Whitney is a wolf culture, playing the pyramid model, and the market has turned the whole into zero, and the whole market has become his channel flow, but he will not pay too much attention to personnel training, nor will he tell the salesman the core product knowledge (just to prevent the salesman's risk). It is common to work overtime until 8-9 o'clock without performance (even if you have nothing to do, you should sit at 20-2 1 point), but it will exercise people's ability to bear hardships there.

Compared with Pratt & Whitney in earth times, it may be much easier, but there is great pressure to make money from sales. In addition, in earth times, similar credit insurance companies have to take care of customers' repayment, and deduct the money if it is overdue (this is actually not the business of the salesman, and the main risk control or supervisor will deduct the money and push it down).

The average monthly interest rate of the credit insurance model is generally 1.2- 1-8, and the average monthly interest rate of the funder (usually a bank) is 0.3, generally around 1.4, and the average age is basically around 18-24. Other interest rates should stay around 36%. Of course, this is not easy to distinguish.

Finally, the person who came up with the model of peace is a part-time master. Talents among talents are not terrible, but they are afraid that hooligans have culture. Ping An's future may be a big brother in the financial sector.