Normal interest = = principal * interest rate * years

Overdue interest rate = = normal interest rate *( 1+ floating point, for example, 30% overdue is 30%)

Overdue interest = = = principal * overdue interest * actual overdue days

Standard for financial institutions to charge interest on overdue loans as stipulated by the People's Bank of China:

1. On the interest calculation and settlement of RMB loans. The method of interest calculation and settlement for RMB loans (not applicable to individual housing loans) shall be determined by both borrowers and borrowers through consultation.

2. Adjustment of loan interest rate during the contract period. The interest rate of medium and long-term RMB loans is fixed from the original one year to be determined by both borrowers and borrowers according to commercial principles. During the contract period, it can be adjusted monthly, quarterly and annually, or a fixed interest rate can be adopted.

The interest rate of loans with a term of more than five years shall be determined independently by financial institutions with reference to the interest rate of loans with a term of more than five years published by the People's Bank of China.

3. About penalty interest. The default interest rate of overdue loans (loans that the borrower fails to repay on the date agreed in the contract) is changed from the current daily interest rate of 2. 1% to 30%-50% higher than the loan interest rate agreed in the loan contract;

If the borrower fails to use the loan as agreed in the contract, the penalty interest rate will be changed from the current daily interest rate of five ten thousandths to 50%- 100% of the loan interest rate agreed in the loan contract.

For loans that are overdue or not used according to the purpose agreed in the contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in the contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.

4. New loans issued after June 65438+1 October 1 (including June 65438+1October/2004) shall be implemented according to this notice. The unexpired loans issued before June 5438+1 October12004 are still executed according to the original loan contract, but this notice can also be executed by mutual agreement.

5. This notice shall be implemented as of June 65438+10/October 65438 +0, 2004. If the provisions on RMB loan interest rate previously issued by the People's Bank of China are inconsistent with this notice, this notice shall prevail.

Consequences of overdue repayment of deferred data

1, penalty interest

When signing a loan contract, some regulations are generally made for loans overdue. If the loan contract is overdue, there will generally be a penalty interest. For different financial institutions, the amount of penalty interest and the interest generated are different. However, as an expense that should not be spent, it is better not to generate it.

2. Credit stain

Don't underestimate this. Once in loans overdue, the bank will report the overdue records to the central bank's credit information system. Once the record is generated, it will leave a stain on the personal credit report. This little stain will form a great resistance to your future loan and credit card application. Borrowers can't lose big because of small.

3. Can't enjoy the preferential loan interest rate.

When you apply for a loan from a bank, the loan interest rate will fluctuate to varying degrees, and high-quality customers can usually get the lowest loan interest rate. Users with loans overdue records, even if they get a loan application, can hardly enjoy preferential interest rates.

Baidu encyclopedia-overdue loan interest