What is the interest rate of Weili Loan in WeChat?

The annualized interest rate of WeChat Weilidai is between 6.00% and 21.00%. The specific interest rate is determined by factors such as the borrower’s qualifications, credit status, and loan period. Influencing factors include: 1. Personal qualifications: Borrowers with good credit and stable income have lower interest rates; 2. Credit status: Borrowers with good credit have lower interest rates; 3. Loan period: The longer the period, the higher the total interest.

WeChat WeChat Loan Interest

The interest of WeChat WeChat Loan is calculated based on the annualized interest rate. The annualized interest rate Between 6.00%-21.00%. The specific interest rate will fluctuate within the above range based on the borrower's personal qualifications, credit status, loan period and other factors.

Factors affecting interest:

• Personal qualifications: Those with good credit, stable income, and low debt ratio can get lower interest.
• Credit status: Those with overdue records or other bad credit records on their credit reports will have higher interest rates.
• Loan period: The longer the loan period, the higher the total interest.
• Other factors: The rating of the WeChat Weilidai platform, industry factors, etc. will also affect the interest level.

Calculation method:

The interest calculation formula is:

Interest = principal x interest rate x number of borrowing days / 365

For example, if you borrow 10,000 yuan, the interest rate is 10% (year), and the loan period is 30 days, the interest is:

Interest = 10,000 x 10% x 30 / 365 = 82.19 yuan

Note:

• Micro loan interest is calculated on a daily basis and can be repaid as you borrow.
• There will be no penalty interest for early repayment, but the remaining interest still needs to be paid.
• Overdue interest and liquidated damages will be charged for late repayment.

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