Is the interest rate of Wonong loan high?

The daily interest rate of a single loan is about 5/10000, the penalty interest rate is about 7.5/10000, and the minimum interest per loan is 1 cent. If you apply for 1000, the interest to be paid every day is probably 0.5 yuan. If this 1000 yuan is overdue, you have to pay a penalty of 0.75 yuan for 1 day.

Interest = loan amount * actual use days * five ten thousandths.

Penalty interest = loan amount * overdue days * 7.5 ‰

The interest rate of credit loan is about 5.2/ day (i.e. 0.052% per day); For users who repay on time and have good credit records, they can enjoy lower loan interest rates.