The overdue calculation methods are different for each different platform. The common overdue interest calculation methods are as follows:

1. Bank loans

Bank loans are recognized by everyone. For more reliable loan platforms, if overdue interest occurs, overdue interest will be charged. The calculation method is principal * overdue interest rate * number of overdue days. Each bank has different regulations regarding overdue interest rates. According to the regulations of the Central Bank, the penalty interest rate is 30% to 50% higher than the original loan interest rate. If the borrower's loan is used for abnormal purposes, such as investment in gambling or other activities prohibited by the bank, the bank will immediately withdraw the loan or increase the original loan interest rate by 50% to 100%.

2. Credit card

Credit cards are also a type of loan. When a credit card is overdue, there will generally be two types of fees: overdue interest and liquidated damages.

Overdue interest: Generally, bank credit cards have an interest-free period ranging from 20 to 50 days. If the cardholder still fails to repay after the interest-free period, overdue interest will accrue. Generally, It is charged at 0.05% per day.

Liquidated damages: At present, most banks set liquidated damages charges at 5% of the unpaid portion of the minimum repayment amount.

3. Alipay

There are many loan platforms on Alipay, such as Huabei, Jiebei, online merchant loans, etc. The interest accrued after overdue payment on different platforms is different.

Huabei: If the current amount due is not repaid before the repayment date (the 10th of each month), corresponding overdue interest will be incurred. The specific calculation method is overdue amount * number of overdue days * 0.05% .

Borrowing: The calculation method for overdue fees is the overdue bill amount (overdue principal plus interest) * interest rate * 1.5 * number of overdue days (not counting the day).

Online merchant loans: Overdue interest on online merchant loans is relatively high. The calculation formula is: overdue bill amount (overdue principal plus interest) × interest rate × 1.5 × number of overdue days (not counting the day).

4. Online Loans

There are currently many small loan platforms on the market, and different platforms have different overdue interest rates. Taking Paipaidai as an example, the overdue interest for each period is =Overdue principal of each period*0.7‰*overdue days. After 90 days of overdue payment, the borrower's information will be exposed, and the lender can initiate legal proceedings or find a collection agency for collection.

Even if you apply for online loans multiple times, even if you are not overdue, your online black index score will be damaged and you will be judged to be on the online loan blacklist. Once on the online loan blacklist, not only will the application for online loans be rejected, but also Huabei and Jiebei will have their quotas reduced, or even be shut down in serious cases.

In addition to protecting personal information, borrowers can learn about their online loan usage through Xiaoqixincha on WeChat, including comprehensive scores, application records and other details, as well as personal online loan information. Data status, if the big data is messed up, it must be corrected in time to avoid a major impact on personal credit reporting.

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