Different platforms have different overdue calculation methods, and the common overdue interest calculation methods are as follows:
I. Bank loans
Bank loan is recognized as a relatively reliable loan platform. If it is overdue, overdue interest will be charged. The calculation method is the number of days when the principal is overdue and the interest rate is overdue. Banks have different regulations on overdue interest rates. According to the regulations of the central bank, the penalty interest rate is 30%~50% higher than the original loan interest rate. If the borrower's loan is used abnormally, such as for investment and gambling, which is prohibited by the bank, the bank will immediately recover the loan or increase the original loan interest rate by 50%~ 100%.
Second, credit cards.
Credit card is also a kind of loan. There are two kinds of expenses after the credit card is overdue: overdue interest and liquidated damages.
Overdue interest: Credit cards in general banks have an interest-free period of 20-50 days. If the cardholder fails to repay after the interest-free period, it will generate overdue interest, which is generally charged at 0.5 ‰ per day.
Liquidated damages: At present, most banks set the standard of liquidated damages as 5% of the outstanding minimum repayment amount.
Third, Alipay.
There are many loan platforms on Alipay, such as flower shop, loan shop and online business loan. The interest generated by different platforms after overdue is different.
Bai Hua: If the current payable amount is not paid off before the repayment date (monthly 10 day), the corresponding overdue interest will be generated. The specific calculation method is 0.05% of the overdue amount.
Loan: the overdue fee is calculated by the overdue bill amount (overdue principal plus interest), and the interest rate is 65438+ 0.5 days overdue (not counting days).
Online merchant loan: online merchant loans overdue has higher interest, and the calculation formula is: overdue bill amount (overdue principal plus interest) × interest rate × 1.5× overdue days (excluding the current day).
Fourth, online loans.
At present, there are many platforms in the market, and different platforms have different interest rates on overdue loans. Take the loan auction as an example, the overdue interest per installment = 0.7‰ of the overdue principal per installment. After 90 days overdue, the borrower's information is exposed, and the lender can take legal proceedings or find a collection company to collect it.
Even if multiple applications for online loans are not overdue, the black index of online loans will be damaged and it will be judged as a blacklist of online loans. Once it becomes a blacklist of online loans, not only will the application for online loans not pass, but even the number of flowers and loans will be reduced, and even serious ones will be closed.
In addition to protecting personal information, borrowers can also learn about their online loan usage, including comprehensive scores, application records and other detailed information, as well as the status of personal online loan big data. If big data has been messed up, it should be corrected in time to avoid a significant impact on personal credit information.
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How to calculate the normal interest and overdue interest of the loan and find the formula, as shown in the following table.
Calculation formula of overdue loan interest:
Normal interest = years of principal interest rate
Overdue interest rate = = normal interest rate (taking 1 as an example, 30% overdue is 30%)
Overdue interest = = = Actual overdue days of overdue interest of principal.
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 interest settlement method of RMB loans (not suitable for 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 period to be determined by both borrowers and borrowers according to commercial principles, which can be adjusted monthly, quarterly and annually during the contract period, 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 adjusted from the current daily interest rate of 2. 1% to 30%-50% higher than the loan interest rate stipulated in the loan contract;
If the borrower fails to use the loan according to the purpose agreed in this contract, the penalty interest rate will be changed from the current daily interest rate of five ten thousandths to 50%- 100% higher than the loan interest rate stipulated in the loan contract.
For loans that are overdue or not used according to the purpose agreed in this 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 this contract until the 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+1October 65438 +0 (including June 65438+1October 65438 +0) shall be subject 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 after mutual agreement.
5. This circular shall be implemented as of June 6+10/October 6 +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.
Extended data
Consequences of overdue repayment
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 will be different. However, as an expense that should not be spent, it is best 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.
You 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. However, even if users with loans overdue records get loan applications, it is basically impossible to enjoy interest rate discounts.