Extended loan refers to a loan method that applies to the bank for extending the loan term after the original loan term expires because the principal and interest of the loan cannot be paid off in time. Deferred loans usually need to pay high penalty interest and late fees, and also need to re-sign relevant loan contracts, so deferred loans are not an ideal way to borrow.

Rollover loans are usually used in some special situations, such as unfavorable financial turnover and poor management. In addition, some personal loans can also be extended, such as credit card installment payment. However, extending loans is not the best way to solve financial difficulties, and reasonable financial planning and savings habits are the best way to avoid financial troubles.

If you really need to apply for an extended loan, you should apply to a bank or financial institution as soon as possible to avoid damage to your credit record due to default. At the same time, before signing the deferred loan contract, you must read the relevant terms carefully to understand the specific situation such as interest rate and handling fee, so as to avoid debt disputes in the future. Finally, don't use extended loans as a long-term financial planning method, but gradually pay off debts by improving personal financial situation.