The "general principles of loans" have corresponding provisions:
Article 71 Under any of the following circumstances, the lender will charge interest on part or all of the loan: if the circumstances are particularly serious, the lender shall stop paying the unused loan of the borrower and recover part or all of the loan in advance:
1. Failing to use the loan for the purpose specified in the loan contract.
2. Use loans for equity investment.
3. Use loans to engage in speculative business in securities and futures.
4. Failing to pay off the loan principal and interest as stipulated in the loan contract.
Extended data
Article 207 of the Contract Law stipulates that "if the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or relevant state regulations".
Penalty interest will be charged if it is overdue. From the overdue date, default interest will be charged at the agreed interest rate 150% every day until the payment is overdue. Your overdue record will be collected by the People's Bank of China, which will affect your credit record. Please cherish your credit and repay on time.
If loans overdue exceeds a certain period, the relevant records of overdue users will be transmitted to the personal credit information system of the central bank. In addition to uploading overdue information to the central bank's personal credit information system, Lending will continue to cooperate with third-party credit information agencies such as Qianhai Credit Information, Shanghai Credit Information and Pengyuanzheng Credit Information.
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.
Baidu encyclopedia-overdue interest
Baidu encyclopedia-general rules for loans