How to calculate the interest of cash loan?

Interest in repayment period =0.06%× loan amount × actual loan days;

Overdue interest =0.06%× loan amount × actual loan days+overdue days ×1;

Tencent Credit Samsung can apply for a cash loan for half a year, with a loan amount of1-3,000 RMB and a loan term of 1-30 days. However, at present, cash loans only support small loans within 500 yuan. Qq cash loan pays six ten thousandths of daily interest, and no interest is charged for the first three days after the loan. But if loans overdue stays for five days, there will be a penalty interest. If the loan is not repaid within 500 yuan, the penalty interest will be 1 yuan/day.

Extended data:

Cash loan, the abbreviation of petty cash loan business, is a consumer loan business for applicants, which has the characteristics of convenient and flexible loan repayment method, real-time approval and quick arrival.

Starting from 20 15, cash loans, as an important branch of consumer finance, began to rise strongly in China. First-and second-tier cities are mainly online, while third-and fourth-tier cities are mainly offline.

As of 20 18 and1June, the financing channels of the cash lending platform have been completely banned, and besides banks and ABS products, the financing channels in the capital market are also tightening.

Faced with the crazy expansion of "cash loan" business, financial supervision departments have been taking measures to control it. 20 17,10 June, the relevant person in charge of the central bank said that in view of the recent rapid scale expansion, all financial businesses including "cash loans" should be standardized.

In view of the current development situation of "cash loan", it is necessary to implement stricter supervision, implement the Guiding Opinions on Banking Risk Prevention and Control issued by CBRC in April 20 17, continue to do a good job in cleaning up and rectifying the "cash loan" business, urge peer-to-peer lending information intermediaries to carry out their business according to laws and regulations, ensure the legitimate sources of funds of lenders, and prohibit their fraud and false propaganda; Strictly implement the relevant provisions of the Supreme People's Court on the interest rate of private lending, and prevent illegal high-interest lending and violent collection.

Cash loan-Baidu encyclopedia