On November 25th, Ant Group’s Jiebei online cash loan platform launched a new “Benefit Installment" (惠分期) service for certain users. Compared with Jiebei, monthly interest rates of Benefit Installment are as low as 0.65%. Although Benefit Installment charges a lower rate, the way the fixed installments are structured allows Jiebei to lock in more profits. In a like-for-like comparison with Jiebei, however, it will generally be more favorable for borrowers to use the Benefit Installment service.