Shanghai Pudong Development Bank provides a three-day grace period, provided that the bank must be notified to apply for the grace period.

Extended information:

The grace period is the period during which debt repayment is postponed. When a loan is used for a certain engineering project, and the source of funds for repayment is based on the income earned after the project is put into production, in this case, there is no source of funds for repayment during the construction period of the project, or even in the initial stage of production. Agree on a time moratorium on repayment. In projects that utilize foreign capital, the borrowed foreign exchange needs to be repaid by exporting the products produced. Therefore, it will take a considerable time for the products to earn foreign exchange after the project is put into production. This is important in determining the length of the grace period. Very important. Although the debt can not repay the principal during the grace period, according to international practice, the interest under the loan project (the amount has been withdrawn) is to be paid to the lender every 6 months after the loan is borrowed, which means that the grace period only applies To defer the repayment of principal. The interest payment every 6 months during the grace period requires the borrower to find another source of foreign exchange funds. One method is to capitalize the interest, and add the interest paid every 6 months to the total loan amount, which increases the total loan amount. The adoption of this method requires the prior consent of the relevant competent authorities.

The purpose of providing a grace period is to provide some protection for policy owners who unintentionally default on insurance premiums, and also to provide policy owners in financial difficulties with a relatively generous fundraising time. The so-called grace period used to generally refer to the interest-free period from the date when the store bill was credited to the cardholder's account until the bank received the cardholder's account. Different card issuing banks have different regulations. The longer the grace period, the better it is for consumers. When considering the grace period, you should also be aware of the issuing bank's rules regarding start dates and settlement dates.

The grace period repayment method is a repayment method derived from the equal principal repayment method.

That is, a repayment grace period is added within the repayment cycle (monthly/quarterly/yearly) stipulated in the loan contract (except for the last installment), and the borrower repays the repayment amount of each installment within the grace period. , it will be regarded as normal repayment, and grace period penalty interest will not be charged; if the repayment exceeds the grace period, penalty interest will be charged based on the actual number of days of default (including the number of grace period days).

Applicable people: This method is mainly used to solve non-malicious temporary debt problems caused by some customers' temporary business trips or special circumstances. Usually banks will provide such supporting preferential plans to their high-quality customers.

After the grace period mortgage is issued, within the period stipulated in the contract, the borrower only needs to pay monthly interest and will not repay the loan principal temporarily. After the grace period ends, the loan amount will be repaid with principal and interest in equal amounts of principal or equal amounts of principal and interest as stipulated in the contract. The grace period varies from 1 year (12 issues), 2 years (24 issues), 3 years (36 issues), etc.