Hello! Get a loan from Bank of China via BOC E-Loan. If I still haven't paid the loan when it's due, can I apply to the bank for a deferral of repayment?
There is a one-day grace period for the principal or interest repayment of Bank of China E-loan. There will be penalty interest for overdue Bank of China E-loans. The penalty interest rate is 1.5 times the interest rate agreed in the contract. For further information, please contact the BOC E-Loan branch.
The above content is for your reference, please refer to actual business regulations.
If you have any questions, please feel free to consult Bank of China’s online customer service.
You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GO APP to handle related businesses. How can I extend the payment if I am unable to repay Bank of China e-Loan?
If Bank of China e-Loan is unable to repay, users need to call the customer service hotline of Bank of China e-Loan and then apply to customer service for an extension of repayment. After the customer service receives the application for deferred repayment, it will ask the user to upload relevant materials for review. If the user can upload the materials, the probability of successful extension will increase. If the user does not have relevant materials to upload, the probability of successful extension is relatively low.
In fact, if users are unable to repay their loans and apply for deferred repayment from BOC e-Loan, only a very small number of users can successfully defer their repayments. If there is no special reason for the inability to repay, Bank of China e-Loan will not allow users to defer repayment. If Bank of China e-Loan rejects the user's application for deferred repayment, then the user can only repay on time. Failure to repay on time will be regarded as the user being overdue.
When BOC e-Loan is overdue, overdue records and overdue interest will be generated. Overdue interest will increase the user's repayment burden, and overdue records will affect the user's personal credit report. Can I negotiate installments with Bank of China e-Loan?
If users are unable to repay Bank of China e-Loan on time due to special reasons, they can try to apply to Bank of China for negotiated repayment. After receiving the application, China will decide whether to agree to the user's application based on the user's usage, repayment, and credit status. Only high-quality customers recognized by Bank of China will agree to negotiate installment repayment.
If Bank of China refuses, the user can only repay on time, otherwise it will be regarded as overdue repayment.