Now in loans overdue, there will be overdue interest and penalty interest. With the increase of overdue time, overdue interest and penalty interest will also increase, and many people don't know much about it. So what's the difference between interest and penalty interest in loans overdue? Let's take a look.

1, with different definitions: default interest is not repaid within the specified time, resulting in unpaid part; Overdue interest refers to the overdue penalty interest arising from the failure to repay the loan as agreed.

2. Different calculation methods: default interest is the interest rate that rises by 30%-50% on the basis of the original loan interest rate, and the interest rate of overdue interest is sometimes directly agreed in the loan contract.

Penalty interest and overdue interest are not a sum of money, and overdue interest is only the penalty interest generated after the principal or interest is overdue, because there are other penalty interests besides overdue interest, such as misappropriation and misappropriation.