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Is the interest rate on flying loans high?

How much is the interest on flying loan?

Flying loan is a four-step loan application software, which is very convenient to operate and use. Since it is a loan, of course, we should know what the interest is. How much is the interest on the flying loan?

How much is the interest on flying loan?

The interest expense of flying loan mainly includes one-time management fee and liquidation fee, which is paid at the first repayment, and the liquidation fee is 2 yuan. There is also a comprehensive fee, which is charged on a daily basis and paid every repayment day after withdrawal.

For example, the repayment method of flying loan can be divided into 30-day repayment and installment repayment. If you borrow 60,000 yuan and pay it off in 30 days, the due amount is 62,396 yuan. Generally speaking, in addition to the principal, 2396 yuan will be paid after one month.

The flying loan can be repaid with the loan, and the interest is calculated on a daily basis. If it is settled in advance, the interest on the repayment date will not be calculated (if it is borrowed today, it will be repaid the next day, only one day's interest will be calculated), and no penalty will be charged for early repayment.

In addition, after using the flying loan, there will be three kinds of expenses: management fee, comprehensive fee and liquidation fee. These three expenses add up to the cost of using the flying loan. Among them, it must be clear that the management fee is a one-time fee, which will be paid in one lump sum at the first repayment; Comprehensive fees and loan principal are paid at the same time on a monthly basis; The liquidation fee will be charged in installments, and the fee is 1.5 yuan. In addition, no other expenses will be incurred.

Is the interest on flying loans higher than the bank interest rate?

The model of flying loan is to really use the Internet and really need big data. Users can see whether they can be approved on the app of Feidai, and behind this series of data are various credit data, that is, to really use big data to analyze users. So how much higher is the interest rate of flying loans than the expected annualized interest rate of banks?

How much is the interest on flying loan?

The interest expense of flying loan mainly includes one-time management fee and liquidation fee, which is paid at the first repayment, and the liquidation fee is 2 yuan. There is also a comprehensive fee, which is charged on a daily basis and paid every repayment day after withdrawal.

For example, the repayment method of flying loan is divided into 30-day repayment and installment repayment. If you borrow 60,000 yuan and pay it off in 30 days, the due amount is 62,396 yuan, and the details will be listed when applying. Generally speaking, in addition to the principal, you need to pay an extra 2396 yuan, and the expected annualized interest rate is close to 4% per month, so the interest is very high.

Is the interest rate of flying loan higher than the expected annualized interest rate of the bank?

The expected annualized interest rate of bank loans is:

By comparison, it can be found that the monthly expected annualized interest rate of flying loans is nearly 4%, while the annual expected annualized interest rate of banks is significantly higher than that of banks. The main aspect of flying loan is to pay back with the loan and calculate the interest on a daily basis. If it is settled in advance, the interest on the repayment date will not be calculated (if it is borrowed today and paid back the next day, only the interest for one day will be calculated). Moreover, there is no penalty for prepayment.

Conditions and interest of flight loans

First, the three conditions of the loan

1, a China citizen with a second-generation ID card;

2, 22 years old (inclusive) to 60 years old (inclusive);

3. Have a good credit record.

Second, loan interest.

1, the daily profit of flying loan is 3% per month.

For example, if you borrow 10000 yuan, 10 days for repayment, the interest will be 100 yuan, and the 30-day repayment will be 300 yuan, which is higher than that of banks.

2. At the same time, the interest expenses of flying loans also include one-time management fees, liquidation fees and comprehensive fees.

Liquidation fee: for 2 yuan, the management fee will be paid for the first repayment.

Management fee: this fee is a one-time fee and will be paid at the first repayment.

Comprehensive fee: this fee is charged according to the usage days of 30 days, the installment product is charged monthly, and it is paid every repayment day after borrowing.

The "king of helping loans" is the bottom of cooperative state-owned banks, with a comprehensive annualized rate of 36%

Last month, the media "technology and finance Online" reported that Dai Fei Financial Technology, founded by Tang Xia, obtained billions of yuan of credit from China Construction Bank to develop its loan business. It is not surprising to launch loan assistance business, but it is very difficult to obtain credit from CCB. Because of this, the report has attracted the attention of the "mutual gold circle". According to reports, the reason why Flying Loan can get the credit from China Construction Bank may be related to the fact that its founder worked in China Construction Bank for 13 years.

Recently, the inspector noticed that the first-instance civil judgment of Wuhan Zhipintang Legal Consulting Service Co., Ltd. and the gold loan contract showed that financial technology had already started business cooperation with China Bank as early as 20 14, and at the same time obtained billions of credits from China Construction Bank. According to the judgment, on April 5, 20 14, the defendant (borrower: Jin) applied for a loan from China Bank Shenzhen Shangbu Sub-branch, and (Shenzhen Zhongxing Financial Technology Co., Ltd.) was entrusted by Shenzhen Shangbu Sub-branch of China Bank to sign a personal loan contract with the defendant, with the agreed loan amount of RMB110,000 yuan. After the signing of the above contract, China Bank Shenzhen Shangbu Sub-branch lent RMB 65,438+065,438+00,000 to the defendant's account. Because the defendant failed to repay the principal and interest of the loan as agreed in the contract, which constituted a breach of contract, Dai Fei compensated the amount to Shenzhen Shangbu Sub-branch of China Bank, but failed to recover from the defendant. Dai Fei transferred the creditor's rights to the defendant (Wuhan Zhipintang Legal Consulting Service Co., Ltd.), and the plaintiff filed a lawsuit to safeguard the legitimate rights and interests. It was found that the personal loan contract signed by the defendant of Feidai stipulated that Feidai could charge the defendant the loan handling fee and management fee. Among them, the borrowing cost is 2% of the loan amount, and the borrowing cost this time is 2200 yuan; Management fee per installment = loan amount ×2.3%- loan interest is repaid per installment. The defendant has repaid the principal and interest of the loan since May, 20 16, 2065438, * * repayment 10, with a cumulative repayment of 8294 1 yuan, of which the handling fee is 2200 yuan, the management fee 16889 yuan and the principal is 5042/kloc-0. After March 20, 20 15, the defendant failed to repay the loan. On October 22, 20 15, Dai Fei paid off the principal and interest of the loan owed to Shenzhen Shangbu Sub-branch of China Bank on behalf of the defendant, with the principal of 59,579 yuan and the interest of 2,576.76 yuan. It was also found that the plaintiff signed a legal service entrustment contract with Hubei Hecheng Law Firm in this case, and actually paid a lawyer's fee of 2,000 yuan.

It is considered that the plaintiff's claim for the defendant to pay the interest loss of occupied funds at an annual interest rate of 6% from the day after compensation is based on facts and laws, and it is supported. The defendant in the final judgment paid RMB 6,265,438+055.76 to Wuhan Zhipintang within seven days after the judgment came into effect, and the interest (based on RMB 6,265,438+055.76) was calculated at the annual interest rate of 6%; In addition, the defendant Jin paid the plaintiff Wuhan Zhipintang a lawyer's fee of 2000 yuan. According to the judgment, Zhang Xuehua, the borrower, paid the principal to Shenzhen Shangbu Sub-branch of China Bank seven months after the deadline, but failed to recover the debt, and then transferred his creditor's right to Zhang Xuehua to Wuhan Zhipintang. However, it is worth noting that the compensation for flying loans was completed on 20 15, 19122, but it was not until August 22, 20 19 that Wuhan Zhipintang filed a lawsuit against Zhang Xuehua. Obviously, Dai Fei collected debts from Zhang Xuehua many times, and finally even transferred the creditor's rights to Wuhan Zhipintang at a very low discount. Therefore, Wuhan Zhipintang only requires Zhang Xuehua to repay the principal and 6% of the interest occupied by the funds. According to public information, Wuhan Zhipintang Legal Consulting Service Co., Ltd. was established on 201219 with a registered capital of 500,000 RMB. The legal representative is Yu Hongbo, and the shareholders are Yu Hongbo (holding 50%), Wang Jian (holding 30%) and Guo Jian (holding 20%). The inspector looked through the financial report and noticed that the judgment documents concerning Wuhan Zhipintang showed that in addition to China Bank Shenzhen Shangbu Sub-branch, Dai Fei had similar cooperation with Foreign Trade Trust and China Resources Trust, that is, Dai Fei provided loans to cooperative financial institutions. After the borrower breached the contract, Dai Fei transferred the creditor's rights to Wuhan Zhipintang. Therefore, it is speculated that Wuhan Zhipintang is a company that disposes of non-performing assets. However, according to the survey data, Wuhan Zhipintang once claimed to be a legal service provider for SMEs. According to public information, there are four mainstream loan assistance modes, namely, margin mode, financing guarantee mode, trust mode and joint loan mode. 1) margin mode: the lending platform provides financial institutions with margin guarantee (generally 5%- 10%, and the conversion leverage is 10-20 times. If the bad debts are too high, additional margin shall be paid); In case of default, the financial institution will directly deduct the deposit, and the lending platform will conduct post-loan collection, litigation or arbitration. 2) financing guarantee mode: the lending platform introduces financing guarantee companies to provide joint and several liability guarantees to financial institutions; In case of default, the financing guarantee will compensate the financial institution, and the financing guarantee company will conduct post-loan collection, litigation or arbitration. 3) Trust mode: the investor entrusts a trust company to set up a trust plan; Lending platform or through affiliated companies. At this time, the trust plan becomes a fund trust plan, and a flat structure or structured arrangement can be designed at the trust end as needed. 4) Joint loan mode: online small loan verifies the credit line for the borrower, matches the external funder through the loan issuance mechanism and completes the credit review, and both online small loan and external funder * * * issue loans to the borrower. It is not difficult to find that the cooperation mode between Dai Fei and Shenzhen Shangbu Sub-branch of China Bank is the deposit mode, that is, when the borrower defaults, ZTE Dai Fei will compensate the Shenzhen Shangbu Sub-branch of China Bank for the principal and interest of the loan owed. The comprehensive annualized rate of flying loans is as high as 36%. According to the above judgment documents, the borrower has repaid 2% of the handling fee (110,000 principal) in the first installment. This also means that the handling fee of 2200 yuan charged for flying loans is not charged in 24 installments, but at most 10 or even once. In addition, 504,265,438+0 yuan loan principal, 65,438+06,889 yuan management fee and 65,438+00,857 yuan loan interest were repaid in the first 65,438+00 period. Based on this calculation, the loan interest paid by the borrower before Jinhua 10 accounts for 59% of the loan principal. How high is the comprehensive annualized rate of flying loans? According to the information provided by netizens' complaints, the loan is 75,000 yuan, 1 6,902.6 yuan is paid in installments, 4,349.68 yuan is paid in installments 2-3 and 4,277.6 yuan is paid in installments 4-24. Calculated by IRR formula, the comprehensive annualized interest rate of flying loan is 36%. It is worth noting that although the comprehensive rate of flying loans does not exceed the red line of 36%, the 1 period of flying loans was complained by netizens as "beheading interest". The three "loan contracts" posted by other netizens all show that the annualized comprehensive capital cost ratio of loans disclosed by Dai Fei is 36%, of which the annualized interest rate of loans is 8. 1%. According to this calculation, as a lending institution, the interest charged by flying loans in the name of service fees and management fees is as high as 27.9% per annum. This also means that if the borrower does not default, the profit earned by flying loans is 3.4 times that of cooperative financial institutions.

If the borrower is overdue, the flying loan will also charge a high overdue penalty interest. According to the previous report of Science and Technology Finance Online, the overdue rate of flying loans is as high as 72%. According to the survey data of enterprises, Shenzhen Zhongxing Dai Fei Financial Technology Co., Ltd. (hereinafter referred to as "Dai Fei") was established on 2065438+20021October 20th and 65438+20th, with a registered capital of RMB100000, and its legal representative is Tang Xia, whose main shareholder is Tang Xia (who finally benefited from 377% of the shares). According to the industrial and commercial change records, on September 23, 20 15, Shenzhen zhongxingxin communication equipment co., ltd. entered the list of shareholders of flying loan, and on October 0, 20165438 10, Shenzhen zhongxingxin communication equipment co., ltd. withdrew from the list of shareholders of flying loan. In addition, on July 18, 2065438, Shenzhen Zhongxing Co., Ltd. was renamed as Shenzhen Yan Xin Co., Ltd. The profile of Tiantu Investment official website shows that the company was established in 2002 and is one of the earliest professional institutions engaged in equity investment in China. Investment cases include Zhou Heiya, Baiguoyuan, Zirou, Guazi used car, Xiaohongshu and homework help. In addition to flying loans, financial technology cases include Jingdong Finance, 5 1 credit card, Tongdun Technology and Light Orange Technology. Inspectors read the money and noticed that the semi-annual report of Tiantu Investment (new third board code: 833979)20 19 showed that the current dividend of flying loan was 41850,000 yuan (the annual report of 20 19 has not been disclosed).

Official website showed that the cooperative institutions include China Construction Bank, China Bank, Huaxia Bank, Bank of Beijing, Bank of Nanjing, Weifang Bank, Qiqihar Rural Commercial Bank, China Resources Trust, Foreign Trade Trust, Ping An Trust, Yunnan Trust and other financial institutions and technology companies.

According to media reports, the net profits of China Resources Trust, Foreign Trade Trust, Ping An Trust and Yunnan Trust in 20 19 were 2.876 billion yuan,/kloc-0.79 billion yuan, 2.652 billion yuan and 403 million yuan respectively. Accused of "violent collection" and overlord's privacy clause 201910/0 month, 2 1 financial report, the supervision is strictly checking the cooperation between trust and financial technology platform. Affected by this, the trust institution will check whether the cooperative financial technology platform has financing guarantee and loan qualification; In addition, the trust institution will also check whether there are acts of theft, abuse, illegal trading or disclosure of borrower information, and violent collection. The inspector noticed that Dai Fei holds the licenses of online small loan (Shenzhen Yan Xin Co., Ltd.) and financing guarantee (Shenzhen Zhonglian Financing Guarantee Co., Ltd.). Through equity discovery, both companies are controlled by Yin Fei 100%. Although there are online small loans and financing guarantee licenses, flying loans are frequently complained because of interest expenses, collection and other issues. As of press time, Dai Fei had 66 complaints on the black cat complaint platform and 322 complaints on the gathering complaint platform. For example, on March 15, netizens complained and posted in Black Cat that they were unable to repay the loan temporarily because there was no source of income during the epidemic, and they had communicated with the customer service, and all kinds of threats and intimidation caused their physical and mental injuries, demanding to stop such collection and apologize to them.

65438+1On October 8, the Ministry of Industry and Information Technology released the second batch of 15 apps that infringed on users' rights and interests, among which the flying loan app was impressively listed, and the problem involved was "Not allowed to use without permission". According to the requirements of the Ministry of Industry and Information Technology, the related apps should be rectified before June 65438+1October 17, 2020. If it fails to be rectified within the time limit, the Ministry of Industry and Information Technology will organize relevant disposal work according to laws and regulations. The inspector looked at the money and noticed that the problem of "no use without permission" was no longer involved in the current flying loan APP, but the flying loan APP required users to agree to its privacy policy and user registration agreement, otherwise the APP could not be used. According to the agreement, when users apply for loans or services using the platform, Dai Fei APP will collect the user's identity information, mobile phone number and biometric features, bank account number, property information, precise positioning, MAC address of the device, login IP address and the authority to make and manage calls. In addition, the flying loan APP also requires obtaining the address book and related contact information for the collection of overdue loans. According to the examiner's reading, it is impossible to use the privacy agreement without consent. This is a typical overlord clause.