What is the annual interest rate of Huabei?

What is the annual interest rate of Huabei?

Huabei’s annual interest rate depends on the user’s situation, generally between 12.8% and 24%.

Factors affecting Huabei’s annual interest rate:

• Credit score: The higher the credit score, the lower the annual interest rate.
• Consumption Habits: Regular repayment on time and no overdue payment can reduce the annual interest rate.
• Usage scenarios: In some scenarios, if you use Huabei to withdraw cash, the annual interest rate will be higher.

Annual interest rate calculation method:

Annual interest rate = interest/principal/time

Where:

• Interest: the interest generated by Huabei
• Principal: the amount consumed using Huabei
• Time: the period of consumption, usually in years

Example:

Suppose you spend 1,000 yuan on Huabei, with a usage period of 1 year and a good credit score, then the interest you need to pay is:

Interest = 1000 yuan 12.8% 1 year = 128 yuan

Therefore, your Huabei annual interest rate is:

Annual interest rate = 128 yuan/1000 yuan/1 year= 12.8%

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