How much is the interest rate of Weili Loan per day?

Weilidai adopts daily interest calculation and monthly payment. The daily interest rate is 0.02%-0.05%, which is determined according to the loan period and credit evaluation. The calculation formula is: Interest = Borrowing Amount × Borrowing Days × Daily Interest Rate.

Weilidai interest calculation method

Weilidai’s interest calculation method is to calculate interest on a daily basis and on a monthly basis. The income is calculated using the daily interest calculation method, that is, the borrower's actual borrowing days borrowing amount daily interest rate.

Daily interest rate

Weilidai’s daily interest rate is between 0.02% and 0.05%. The specific interest rate is determined based on the user’s comprehensive credit assessment, loan period and other factors.

Calculation formula

• Interest = Borrowing amount Borrowing days Daily interest rate

##Example

Suppose you borrow 1,000 yuan with a term of 30 days and a daily interest rate of 0.03%. Then the interest you need to pay is:

Interest = 1000
• 30 0.03% = 9 yuan

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