“还呗”App广告号称免息，实际年化费率或高达35.99%

Core Viewpoint - The advertisement by "Huanbei" claims that borrowers will only repay the amount they borrowed, but the actual terms reveal hidden costs and high interest rates, potentially violating regulatory guidelines [5][7][12]. Summary by Sections Advertising Claims - "Huanbei" promotes a no-interest borrowing scheme, stating "borrow 30,000, repay 30,000" [1]. - The advertisement misleads users about the actual costs associated with borrowing [7]. Loan Terms and Costs - A test loan of 1,000 yuan results in monthly repayments of 346.75 yuan, leading to an annualized comprehensive cost of 23.99% [5]. - The loan includes a 12% interest rate, with additional fees from guarantors, and penalties for late payments can double the interest rate to 24%, resulting in a total cost of 35.99% [7][10]. Regulatory Compliance - The "Huanbei" platform's practices may violate the "Assisted Loan New Regulations," which limit the total financing cost to 24% annually [7][11]. - The regulations require transparency in fees and prohibit hidden charges, which "Huanbei" appears to circumvent through complex agreements [8][11]. Legal and Institutional Responses - Legal experts highlight that the high fees and penalties could be deemed excessive and potentially illegal under current financial regulations [7]. - Citic Baixin Bank, involved in the loan process, has faced penalties for non-compliance with regulatory standards, indicating systemic issues within their operations [11][12]. User Experience and Data Privacy - Users are required to authorize extensive personal data access, raising concerns about privacy and the potential for aggressive marketing from third parties [8][10]. - The loan disbursement process involves multiple entities, complicating the transparency of the transaction [10].