Loan extension refers to the borrower's behavior of delaying repayment under the condition of applying to the loan bank for approval. If the loan cannot be repaid, he should apply to the bank for an extension. If loans overdue has 30 days, he should apply to the bank for an extension. If loans overdue lasts 65,438+00 days, the outstanding loan shall be repaid in the current period (installment repayment) and all interest shall be settled.
1. The cumulative extension period of short-term loans (with a term of less than one year, including one year) shall not exceed the original loan term.
2. The cumulative extension period of medium-term loans (1 year or more, 5 years or less) shall not exceed half of the original loan period.
3. The cumulative extension of long-term loans (over 5 years) shall not exceed 3 years.
The latest Measures for the Administration of Personal Loans also stipulates that the extension period of personal loans within 1 year (inclusive) shall not exceed 1 year, and the extension period shall not exceed the longest loan term of the original loan term.
Loan extension clause
Article 12 of the general loan rules: loan extension:
If the loan cannot be repaid on schedule, it shall apply to the borrower for extension before the loan expires. It is up to the lender to decide whether to extend the loan. To apply for secured loan, mortgage loan or extended mortgage loan, the guarantor, mortgagor and pledgor need to issue a written consent certificate. If there is an agreement, it shall be implemented in accordance with the agreement.
The cumulative extension of short-term loans shall not exceed the original loan term; The cumulative extension of medium-term loans shall not exceed half of the original loan term; The cumulative extension of long-term loans shall not exceed 3 years. Unless otherwise stipulated by the state, if the borrower fails to apply for extension or the application for extension is not approved, the loan will be transferred to the overdue loan account from the second day of the maturity date.
Article 14 of the general principles of loans shall include loan interest:
The borrower and the borrower shall collect or pay interest on schedule according to the loan contract and the relevant interest-bearing provisions of the People's Bank of China. When the loan is extended, when the original term reaches the new interest rate term, the loan interest rate will be calculated according to the new term grade interest rate from the date of extension.