Now many people have applied for online loans for consumption, so many companies have launched loan products. Among them, Xiaomi Company also has loan products, which are generally called Xiaomi loans. So, is there a three-day grace period for Xiaomi loan? Let's have a look.

Loan grace period

Xiaomi loan has a three-day repayment grace period. Under normal circumstances, Xiaomi Company will give users a three-day grace period. If it is less than three days overdue, only the principal and interest and liquidated damages need to be paid off in full, which will not affect the credit investigation. However, if the repayment is overdue, it will be counted as overdue.

Once Xiaomi goes to loans overdue, there will be a penalty interest, and the system will collect it daily at the interest rate of 0.75%. The overdue records will be recorded in the credit report, which will affect your credit. In addition, there will be all kinds of text messages and phone calls, which will affect the normal life of individuals. If the overdue time is long and the finance is relatively large, then appeal. Therefore, users must repay on time after applying for Xiaomi loan.