The penalty interest of micro-loan is 1.5 times, which is 1.5 times of the customer's overdue loan interest in the same period. The penalty interest is calculated on a daily basis, so the longer the customer is overdue, the more the penalty interest of micro-loans will be, and the greater the debt pressure will naturally be.

There is no grace period for micro-loan repayment, so it is impossible to negotiate repayment. If the customer fails to repay the loan in time before the repayment date expires, it is overdue and will bear the corresponding overdue responsibility, leaving a record of non-performing loans on the credit report.