Because it is a loan, if the borrower with your ID card fails to repay the loan on time. You will have to pay back the money then.
Second, what are the consequences of lending money to others with your ID card?
Lending money to others with your ID card is actually your own loan. If others don't repay the loan, they are obliged to repay it. In fact, they are borrowers. The overdue interest and records are borne by yourself. Consequences of outstanding loans:
1. If the repayment is not made at one time, the bank will call and send a short message to remind you to repay the loan on time, and at the same time, it will impose a penalty.
2. If the repayment is not made for three consecutive times, the bank account manager will collect it and the borrower will be penalized.
3. If the number of overdue repayments reaches 6 times or more, the bank will protect its rights and interests through legal means. If the property is mortgaged, the property may be frozen during this period.
Third, the consequences of giving loans to others with your ID card.
Legal analysis: 1. If the loan is overdue for a long time, in theory, the "lender" needs to bear the responsibility of repaying the loan. If the loan is not repaid on time, the bank deposit in the name of the "lessee" may also be transferred and deducted;
2. Failing to repay the loan within the time limit may be blacklisted by the bank credit center, resulting in personal credit damage;
3, personal credit problems, may lead to non-permanent loans to buy a house, car, travel, travel vehicles are restricted and can not apply for credit cards.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.
Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.