What is the difference between Alipay's Idle Money Earn and Yu'e Bao? How is the Idle Money Earn interest calculated?

Alipay's Idle Money Earn is quite reliable. After all, it is a financial product launched by the platform and belongs to Yu'e Bao. If you have extra money in Yu'e Bao, you can consider putting it in the Idle Money Earn regular financial management. The interest rate is much higher than Yu'e Bao. Next, let's take a look at the difference between Alipay's Idle Money Earn and Yu'e Bao.

What is the difference between Alipay's free money earning app and Yu'ebao?

Yu'ebao

Transferring money to Yu'ebao can earn you a certain amount of income. It supports the transfer of funds from Alipay account balance payment and savings card quick payment (including cartoon). No handling fee is charged. Through Yu'ebao, users can not only get "interest" on the funds they deposit in Alipay, but also earn higher income than the interest on bank current deposits.

Earn more spare money

The idle money in this scenario refers to the amount of funds in Yu'ebao that has been idle for at least 7 days and is more than RMB 1,000. To facilitate your daily expenses or other scenarios, the idle money results displayed do not include the frozen amount.

The idle money of 360 days/180 days/90 days/60 days/30 days/7 days is calculated daily as idle money reminder. If you use the idle money of Yu'ebao to purchase corresponding products on the same day, the idle money amount displayed will be decreased. But your idle money will be recalculated the next day.

How to calculate the interest earned on idle money

7-day income

Your spare money will be transferred to China Life Weekly Profit Fund with an annual rate of 3.2160% for seven days. The transaction is estimated to be completed on January 6. After that, it cannot be withdrawn in advance during the stable period. It will be automatically renewed upon expiration, and we will continue to help you manage your spare money without interruption.

31-day profit

Your spare money will be transferred to Anbang An to earn 31 days and 7 days annualized 3.4470%

360 days income

Your spare money will be transferred to China Life Anxinying 360-day seven-day annualized 4.5820%

Is there any risk in making extra money with Yu'ebao?

The financial products launched on the Alipay platform have basically no risks. Among them, the retirement-like financial products such as China Life Weekly Profit are sure to make money, but the yield is only 0.8+ per thousand, which is equivalent to earning 8-9 cents a day on 10,000 yuan, which is still quite cost-effective.