The controversy about this business has never stopped. Due to the vague positioning of this business, some people think that this is a disguised form of credit card cashing, but others think that this is an innovative experiment of domestic banks in microfinance business. On July 13, the Morning Post reporter received a complaint from consumers, and the "universal fund" was once again questioned to induce consumers to cash out.
Extended data:
The customer service staff of Shanghai Pudong Development Bank Credit Card Center said that the current withdrawal fee of Shanghai Pudong Development Bank Credit Card is 3%, which is the lowest standard in 30 yuan. At the same time, there are five ten thousandths of interest every day. Compared with credit card withdrawal, "universal cash" has no interest of five ten thousandths per day, and credit card withdrawal must be repaid in full. "Universal cash" can be divided into stages, one year, two years or three years.
Take the application for "universal fund" 1 10,000 yuan as an example. Apply for a one-year loan with a monthly repayment of 900.7 yuan and a two-year loan with a monthly repayment of 482.5 yuan. Compared with cash withdrawal by credit card, the interest is indeed much more favorable. In terms of specific use, after the application is successful, the bank will transfer the funds into the user's bank debit card, and then the monthly repayment amount will appear in the user's credit card bill, which is consistent with the credit card repayment method.
Popular Daily-Shanghai Pudong Development Bank's "Universal Fund" was questioned again.