The consequences of defaulting on bank loans are as follows:

1. In case of default interest, 50% interest will be added. Although the policies of each lending institution are different, on the whole, banks will be more accommodating than small loan companies. Credit loans overdue, the lending institution will first collect the loan, remind the borrower to repay, and the interest rate will rise as a daily penalty interest;

2. Bad credit records will be generated, which will affect future loan and credit card processing. Every day after the deadline, this name will appear in the internal system of the bank at the same time, and then the president and risk control will see it. After the deadline, the credit report will inevitably leave a bad record. Once you stay, you may be locked up for 3 -7 years. If you want to borrow from other banks in the future, you may not be able to apply easily because of bad credit. If the overdue situation is serious, the mortgage and car loan will be affected in the future. Penalty interest is only a loss of money, while bad credit record is a loss of intangible assets, and the impact is irreparable by money;

3. You can't enjoy preferential loans or even apply for loans. When many people apply for a mortgage again, they find that they have left too many overdue repayment records on the old mortgage because of carelessness. In addition to the penalty interest for overdue mortgage repayment, they may not be able to obtain the preferential interest rate of bank mortgage smoothly. What's more, it is impossible to apply for a mortgage.

4. Being blacklisted, children can't go to key schools. For some "Lao Lai" who deliberately delay bank debts, they will be blacklisted. So that you can't fly, high-speed rail, accommodation, etc. ; More seriously, children will not be able to go to key schools; There will be more punishments in the future, so it can be said that life is hard.

Legal basis: Article 3 of the Measures for the Administration of Credit Card Business.

The term "credit card" as mentioned in these Measures refers to the credit payment instruments issued by commercial banks in People's Republic of China (PRC) (including foreign banks and Sino-foreign joint venture banks, hereinafter referred to as commercial banks) to individuals and units. Credit card has the functions of transfer settlement, cash deposit and withdrawal, consumer credit and so on.