As science and technology continues to develop, more and more people are choosing on-line loans to meet short-term funding needs. The new safe loan is popular as an online loan platform under the umbrella of the Safe Bank. However, many do not yet know what the interest on the new loan is, and today we will analyse it。

What's the interest on the new loan

First, it should be noted that interest on the new loan is not fixed, but is measured on the basis of factors such as the borrower's credit rating and the length of the loan. In general, the higher the credit rating of the borrower, the lower the interest rate. The longer the borrowing period, the higher the interest. In addition, consideration needs to be given to such factors as the size of the amount borrowed and the method chosen for repayment。

IT IS UNDERSTOOD THAT THE INTEREST RATE FOR THE SAFE NEW LOAN IS APPROXIMATELY BETWEEN 6% AND 24% PER ANNUM. SPECIFICALLY, THE ANNUAL INTEREST RATE FOR CLASS A BORROWERS IS 11.50%-13.50%, FOR CLASS B BORROWERS IT IS 13.50%-15.50%, FOR CLASS C BORROWERS IT IS 15.50%-17.50%, AND FOR CLASS D BORROWERS IT IS 17.50%-19.50%. IT SHOULD BE NOTED, HOWEVER, THAT THIS IS ONLY A BROAD RANGE AND THAT SPECIFIC INTEREST RATES NEED TO BE MEASURED ON A CASE-BY-CASE BASIS。

In addition, the calculation of interest on the safe new loan is very simple and straightforward. After the borrower has repaid the amount and time agreed upon in the agreement, the Platform calculates the interest due and the interest penalty based on the number of days actually borrowed. Of these, the overdue interest-bearing period is three days from the date of repayment and the penalty is calculated by multiplying the overdue days by the overdue interest rate。

In general, interest on new and secure loans is not high and is calculated in a transparent manner. As a result, additional costs arising from the delay could be avoided provided that the payment was made on time as agreed。