"Ant borrowing", a personal-specific borrowing tool, not only makes it easy to borrow, but also to apply for a loan in instalments. However, the use of borrowing would still require interest. So you're probably wondering what interest would be if we paid in advance

How do you calculate interest on borrowed advance payments

If you choose to repay the borrowed instalments in advance, interest will be calculated on the date on which you actually borrow, that is, the date on which you pay in advance. But there is a small point to note that if you do not settle all of the arrears, only part of them are paid in advance and the remaining arrears will continue to give rise to interest in the future. Moreover, this part of the unpaid amount would be re-assessed to a later date, until the final repayment date, when interest would be counted。

So, what would be the impact if it was not careful? I have a list of possible consequences: your credit records will be affected; the platform will start to press you for repayments; you may need to pay a penalty; the amount you borrow may be reduced or even frozen; you may be affected when applying for other loans; the credit damage may have an impact on your career development; it may even be blacklisted; it may even face legal sanctions if it is maliciously overdue; and it may not be possible for you to benefit from a preferential loan。