年化400%！网贷高利新变种：分期商城与月系融担的最后疯狂

Core Viewpoint - The new regulations on lending and small loans intended to curb high-interest online loans have not effectively stopped the emergence of new high-interest lending schemes, such as installment malls and monthly guarantee platforms, which continue to exploit users through hidden fees and exorbitant interest rates [1][21]. Installment Malls - Platforms like "Xiaoxiang Youpin" are using a model of "product installment + platform buyback" to disguise high-interest loans, with annualized interest rates exceeding 146.8% for some users [3][23]. - A specific example includes a gold bracelet priced at 14,029 yuan, where the total repayment amount reached 15,746.02 yuan, resulting in an annualized interest rate of 101.57% when calculated based on the buyback price of gold [4][5]. - Many users are unaware of the actual interest rates due to the lack of clear disclosures, leading to potential violations of consumer rights [29]. Monthly Guarantee Platforms - Monthly guarantee platforms are more straightforward in their approach, charging high guarantee service fees that push annualized interest rates above 400% [9][30]. - For instance, a user borrowed 5,200 yuan and ended up repaying 7,124 yuan, with a significant portion attributed to hidden guarantee fees [9][30]. - These platforms often do not disclose the actual lending institutions or interest rates, leading to confusion and potential exploitation of borrowers [32]. Market Dynamics - The rise of installment malls and monthly guarantee platforms is attributed to a combination of market demand for "subprime" loans and the short-sighted profit motives of the industry [36]. - Following the introduction of new lending regulations, many high-interest lending models have become unsustainable, prompting smaller platforms to innovate ways to bypass regulations [36][37]. - The current high-interest lending practices are seen as a "last hurrah" for the industry, as they are not sustainable in the long term due to high risks and regulatory scrutiny [39]. Recommendations for Regulation - There is a call for stricter enforcement of regulations that require all fees to be included in the total cost of loans, ensuring compliance with the 24% annualized interest rate cap [36][40]. - Recommendations also include the need for platforms to clearly disclose all costs and the identities of funding sources, as well as establishing a cross-departmental enforcement mechanism to combat deceptive practices [40].