Online merchant loans are reliable, and they are loan products of online merchant banks, which are private banks initiated by Ant Financial. Moreover, the reputation of Ant Financial is also there, backed by Alibaba, and the security is also very strong.

The interest rate of online business loans is also low, and the average daily interest rate is within 0.05%, which is similar to borrowing.

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What will happen to loans overdue, an online merchant?

If the online merchant loans overdue, it will first have a serious impact on personal credit reporting. As long as loans overdue, an online merchant, will definitely be reported. Once the personal credit report is tainted, it is very difficult to handle mortgage, provident fund loan, credit card and other businesses in the future. Secondly, the penalty interest will be charged on a daily basis (the penalty interest will be charged at 65438+ 0.5 times the normal daily interest rate). The calculation formula of penalty interest is: penalty interest = overdue bill amount (overdue principal plus interest) * interest rate * 1.5* overdue days (excluding the current day). In addition, there will be a telephone collection specialist.