What does Alipay mean by interest settlement?

Interest settlement in Alipay account means that Alipay settles the deposit and loan interest at the agreed interest rate according to your deposit and loan accumulation in Alipay.

When depositors deposit their deposits in Alipay, they will pay interest to depositors or charge interest to borrowers within a certain period of time. Generally according to the length of the cycle (3 months, 6 months, 12 months, etc. ), annual interest rate or daily interest rate, different settlement methods, interest settlement amount is also different.

Extended data:

For example:

A customer deposited a fixed deposit of RMB 65,438+00,000 on July 365,438+0, 2006. If the customer withdraws in full on March 65, 2007, 438+0. On the withdrawal date, the semi-annual interest rate of lump-sum deposit and withdrawal determined by the bank is 1.89%. Suppose the bank has made the following regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular, regular.

1, the interest calculation and selection formula is "interest = principal× year (month )× year (month) interest rate+principal× odd days× daily interest rate";

Interest payable =10000× 7× (1.89 %× 60%10000×10× (1.89 %× 60% ÷)

2. Interest calculation formula "interest = principal × actual days× daily interest rate": interest payable =10000× 222× (1.89 %× 60% ÷ 360) = 69.93 yuan.

Conclusion: The interest difference under two different interest calculation methods is 0.63 yuan.