As for usury, because the qualification of the customer base targeted by BOC is relatively poor compared with that of banks, the interest is definitely higher than that of banks, but it is not usury.
Extended data:
On June 2010/2, BOC Consumer Finance Co., Ltd. was formally established in Shanghai. It is jointly funded by Bank of China, An Baili Group and Shanghai Lujiazui Financial Development Co., Ltd.
Product features:
1. No mortgage guarantee is required.
Customers who have a stable job in Shanghai, have worked in the current unit for 6 months continuously, have payment records, and have a monthly income of more than 2,000 yuan can apply.
2. Low repayment pressure
You can choose the minimum repayment method and the active repayment method, and decide your repayment behavior at any time according to your own economic situation.
3. Flexible borrowing and returning
There is no fixed repayment period, and the loan period ranges from 1 day to several years. It is entirely up to you to decide the time and amount of installment repayment according to your own needs.
4. Rapid application
There are two ways to apply:
A) Apply at the consumer finance service point, and notify the approval result within 1 hour;
B) Apply online on the website of BOC Consumer Finance Company, and notify the approval result within 3 working days.
References:
Bank of China Consumer Finance-Baidu Encyclopedia