You can apply for deferred repayment, but only if you are unable to go to work due to the new coronavirus and cannot repay your credit card on time, you can do so in accordance with the "About Strengthening Cooperation in Banking, Insurance, and Financial Services" issued by the Central Bank and the China Banking Regulatory Commission. The "Notice on the Prevention and Control of Pneumonia Epidemic of Novel Coronavirus Infection" is dealt with in Article 3.

It is clear that for people who have lost their source of income due to the epidemic, appropriate credit policies must be given, flexibly adjust the repayment arrangements for housing mortgage loans, credit cards and other personal credit, and reasonably postpone the repayment period.

To put it simply, during the new coronavirus epidemic, all banks will provide certain deferrals of repayment.

So if you are unable to work due to the epidemic and cannot repay your credit card on time, you don’t have to worry too much as all banks will extend your repayment.

Extended information:

Loans (electronic IOU credit loans) are simply understood as borrowing money that requires interest.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds according to certain interest rates and must be returned.

Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts.

Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income. , increasing the bank’s own accumulation.

Principles

The "Three Principles" refer to safety, liquidity and efficiency, which are the fundamental principles of commercial bank loan operations.

1. Loan safety is the primary issue faced by commercial banks;

2. Liquidity refers to the ability to recover loans within a predetermined period or to realize cash quickly without loss. Meet the needs of customers to withdraw deposits at any time;

3. Efficiency is the basis for the bank's continued operations.

For example, if a long-term loan has a higher interest rate than a short-term loan, the efficiency will be good. However, if the loan period is longer, the risk will increase, the safety will be reduced, and the liquidity will become weaker. Therefore, there must be harmony between the "three natures" so that there will be no problems with loans.

Repayment method

(1) Equal principal and interest repayment: that is, the sum of the loan principal and interest is repaid in equal monthly installments.

Housing provident fund loans and most banks’ commercial personal housing loans adopt this method. In this way, the monthly repayment amount is the same;

(2) Equal principal repayment: that is, the borrower will evenly distribute the loan amount and repay it in each period (month) during the entire repayment period, and pay the same amount at the same time. A repayment method that clears the loan interest from the previous transaction day to the current repayment date. In this way, the monthly repayment amount decreases month by month;

(3) Monthly interest payment and principal repayment on maturity: that is, the borrower repays the loan principal in one lump sum on the loan maturity date [with a period of one year] Applicable to the following (including one year) loans], the interest on the loan is calculated on a daily basis, and the interest is returned on a monthly basis;

(4) Repay part of the loan in advance: that is, the borrower can apply to the bank to repay part of the loan amount in advance , the general amount is 10,000 or an integral multiple of 10,000. After repayment, the loan bank will issue a new repayment plan, in which the repayment amount and repayment period will change, but the repayment method will remain unchanged. And the new repayment period shall not exceed the original loan period

(5) Repay the entire loan in advance: that is, the borrower applies to the bank to repay the entire loan amount in advance. After repayment, the lending bank will terminate the loan. loan and go through the corresponding cancellation procedures.

(6) Borrow and repay at any time: The interest after borrowing is calculated on a daily basis, and one day is used to calculate the interest. You can settle the payment in one go at any time without penalty