The consequences of not repaying the loan on Renren.com are as follows:
1, overdue management fee and overdue penalty interest need to be paid. The overdue management fee is calculated on a daily basis, and the fee is 0.3% of the principal. This fee increases with the increase of overdue time. The overdue time is between 1-30 days, and the fee is calculated at 0. 1%. If it is more than 30 days, the fee shall be calculated at 0.5% of the principal. Penalty interest is also calculated on a daily basis, and the interest rate will also increase with the increase of overdue days. The overdue days are within 1-30 days, and the daily interest rate is 0.05%. If it exceeds 3 1 day, the interest rate is 0. 1%.
2. It will affect the next loan on everyone's loan. The longer the overdue period, the lower the success rate of the loan.