First of all, bud
Bai Hua is Alipay's online consumer financial service product, similar to a credit card. It allows users to repay this month without interest, as long as they repay in full and on time, and there is no need to pay other fees without using the installment function. If you use the minimum repayment amount or installment payment, you need to pay other fees. The specific fee is subject to the display on your page.
However, unlike credit cards, flowers can't be withdrawn. Cash-out of flower beds is an act explicitly prohibited by Alipay. Once there is illegal cashing, the flower bed is likely to be closed directly.
Second, borrow
Borrowing is a loan service for personal consumption in Alipay. Users can apply to withdraw the loan amount to their bank savings card or Alipay balance, and then use the loan to pay for daily consumption, decoration, travel and other expenses.
It should be noted that the loan bears interest on a daily basis and has no interest-free period. The interest rate depends on what is displayed on your page. The loan interest rate is given by the system according to the comprehensive situation of users, so the interest rate of each user may be different, and the interest rate of the same user in different periods may also be different, because the loan system will re-evaluate the comprehensive situation of users from time to time, and then the interest rate may be adjusted according to the results.
Third, the main differences between flower buds and borrowed buds
Generally speaking, the difference between flowers and borrowing lies in four aspects:
(1) business conditions
Not all Alipay users can open flower beds to borrow flowers. Whether they can open flower beds and borrow flowers is the result of systematic audit, and manual intervention is impossible. However, according to feedback from netizens, it is much easier to open flower beds than to borrow them. Many netizens have flower beds that they don't borrow.
(2) Method of use
The flower garden quota can only be used for direct consumption and cannot be withdrawn. You can apply for lending a flower bud quota and then use it for daily consumption.
(3) cost
Flower buds have a certain interest-free period, while borrowing buds bears interest on a daily basis. The specific interest rate is subject to the actual display on your loan bud page.
(4) Quota
The amount of flowers and loans is given by the system according to the evaluation results of users' comprehensive situation and account usage, so the amount of each user is different under different circumstances, and the amount is not fixed. The system will evaluate the user's situation from time to time and may adjust the user's quota.
The maximum amount of flower buds is much lower than that of borrowing buds, so if users open flower buds and borrowing buds at the same time, the amount of flower buds will generally be lower than borrowing buds.