利率低至“2字头”！信用卡现金分期业务竞争愈发激烈

Core Viewpoint - The competition in the credit card cash installment service sector is intensifying, with banks offering significant interest rate discounts to attract customers [1][2]. Group 1: Market Dynamics - Following a temporary halt in the price war for consumer loans, banks are now aggressively competing in the credit card cash installment market [1][2]. - Some banks have introduced limited-time promotional activities, with interest rates as low as 1.6 times the base rate, resulting in annualized rates dropping below 3%, with the lowest at 2.76% [1]. - For example, China Merchants Bank's "e招贷" product offers a special rate of 1.7 times for 12-month installments, leading to an annualized rate of 2.76% [1]. Group 2: Consumer and Bank Benefits - These promotional activities are beneficial for consumers by reducing short-term funding costs, particularly for large expenditures like home renovations and education, aligning with the macroeconomic goal of boosting domestic demand and consumption [1]. - For banks, the short-term advantage lies in quickly acquiring customers through competitive pricing, while the long-term benefit includes optimizing retail business structures by retaining high-quality customer segments [1]. Group 3: Regulatory Environment - Since last year, the government has implemented policies to stimulate the consumption market, creating opportunities for consumer finance [2]. - However, the banking sector faces pressure from declining net interest income, prompting banks to seek new revenue sources in consumer loans [2]. - The excessive competition in the consumer loan market has led to regulatory measures, including a minimum annualized interest rate of 3% for consumer loan products, effective from April 1 [2].