Chapter: 3636

As soon as they heard that they could make periodical payments, everyone let out a sigh of relief.

Making periodical payments means they won't have to liquidate their assets and can instead use them to earn money slowly while paying off the debt. This way, it's not too painful for them.

However, no one expected Wan Ba Jun to follow up with, "But, making periodical payments is not free! For each installment, you must pay a service fee equal to 0.06% of the total amount."

Wan Ba Jun's words immediately sparked a commotion among the hundreds of family members and affiliates gathered around him.

Although these family members and affiliates were not the most elite entrepreneurs, they were still much more shrewd than those young people who recklessly used credit cards to make installment payments without thinking about the consequences.

Those reckless young people thought that making installment payments was a great deal, but they didn't realize that the bank had already grasped their mentality tightly.

The interest rate for each installment is 0.06%. Looking at it, one million yuan can be paid off over twelve installments, with only sixty thousand more per month. But over the course of a year and twelve installments, it's actually seven hundred twenty thousand!

Compared to the principal of one million yuan, the annual interest rate for installment payments is 7.2%!

This is just a rough calculation method; you know that one million yuan is not repaid in full at the end of the year, but rather in twelve installments with decreasing principal and fixed interest rate calculated on the basis of one million yuan, which would actually result in an interest rate exceeding 13%!

This interest rate can be considered a high-yield investment in the financial market.

Each member of the Ye family has close relationships with banks and financial institutions; if they really want to borrow money, they can easily get large loans with an actual annual interest rate below 5%. So when they heard that Wan Ba Jun was offering this installment plan, their hearts were full of resentment.

Someone spoke up and said, "Wan Da Lun... after I've spent all my cash, I'm still short by twenty billion. Please grant me a one-day extension so I can use collateral loans to pay it off!"

Others chimed in: "Yes, Wan Da Lun, if you just give us a day, we'll be able to handle collateral loans! Please extend the deadline for us!"

Wan Ba Jun spoke coldly: "Extension is impossible. Each of you must settle your debts within an hour, or else you'll have to sign an installment payment agreement!"

The members of the Ye family's extended family suddenly looked worried.

Just then, Ye Tian Xiao blurted out, "Wan Da Lun, I'm willing to make installment payments."

No one expected that Ye Tian Xiao would be the first to yield; as everyone was about to sneer at him, he continued: "I'll pay off all my debts in two installments over a period of two months, and I guarantee to pay it off in full."

When others heard this, they suddenly clapped their thighs in excitement.

They had previously been terrified by the thought of the six-tenths-of-a-thousandth installment payment fee, but they had forgotten that they could actually choose the shortest repayment period.

If it's broken down into two installments, all you need to pay is a six-hundredth-of-a-thousandth for each, adding up to just 1.2%.

So, naturally, everyone felt much more at ease.

As a result, many people began to express their enthusiasm, some wanting to break it down into two periods, others wanting to do three or even six.

The most they were willing to do was to agree to six installments, and none of them were willing to do more than that.

Wan Ba Jun couldn't help but furrow his brow, guessing what these people were thinking. They must be trying to minimize the number of installments as much as possible, then rush to gather funds and fill in this installment payment hole.

This way, they could escape the trap of high interest rates for installment payments. JrNovels.com