1. How long should the provident fund be deducted after overdue repayment?
After the provident fund loan is successfully processed, the bank will deduct money from the agreed repayment account, which can be a provident fund account or a repayment card account. The deduction time is generally on the 20th or 25th of each month, and the specific date will be seen in the loan contract.
Banks usually deduct money from their accounts on the repayment date to recover the loan principal and interest. Before the bank deducts money, the lender must ensure that the balance in the account is sufficient, otherwise the deduction will be overdue if it fails. If there is overdue, the lender still has to make up the money when repaying.
Generally, the bank will make a second deduction on the day after the repayment date, according to the principle of how much deduction, until the loan principal and interest of the month are recovered.
2. Will overdue repayment of provident fund affect credit reporting?
Yes, although the arrears will be paid off after payment, if the bank has reported the overdue records to the central bank for credit investigation, it will still leave bad credit records in the credit investigation system, and it will take five years to eliminate them.
However, if the provident fund is overdue, it is not malicious, especially after the bank deducts money on the repayment date, the money is paid to the card; Or there is a problem in the banking system, which makes it impossible to deduct money on the repayment date. In these cases, you can call the bank and let it handle it. It may also be regarded as normal repayment, so it can avoid affecting credit information.