Legal subjectivity: the overdue interest rate is 30% to 50% higher than the loan interest rate agreed in the loan contract. If the borrower fails to use the loan as agreed in the contract, an additional 50% to 100% will be charged on the loan interest rate agreed in the loan contract. Notice of the People's Bank of China on the relevant issues concerning the interest rate of RMB loans. About penalty interest. The default interest rate of overdue loans (loans that the borrower fails to repay on the date agreed in the contract) is changed from the current daily interest rate of 2. 1% to 30%-50% higher than the loan interest rate agreed in the loan contract; If the borrower fails to use the loan as agreed in the contract, the penalty interest rate will be changed from the current daily interest rate of five ten thousandths to 50%- 100% of the loan interest rate agreed in the loan contract.

Legal Objectivity: the Supreme People's Court's Interpretation on the Applicable Legal Issues in the Trial of Sales Contract Cases Article 24 If the sales contract does not stipulate the liquidated damages for overdue payment or the calculation method of liquidated damages, and the seller claims to compensate for the loss of overdue payment on the grounds of the buyer's breach of contract, the people's court may refer to the overdue penalty interest rate standard of the benchmark interest rate of similar RMB loans of the People's Bank of China for calculation.

2. Can I apply for interest rate reduction if the overdue interest rate is too high?

If the interest rate is too high after the deadline, you can apply for interest reduction.

Introduction: (Micro-loan) is an operating loan with an individual or family as the core and a loan amount of more than 200,000 yuan but less than 200,000 yuan. It is an extension of microfinance in technology and practical application. In China, it mainly serves the establishment of three rural loan companies, reasonably collects some private funds, and solves the financing problem of three rural areas and small and medium-sized enterprises.

Three, overdue, how to calculate the interest?

After the deadline, the general interest rate will be higher than normal. That is the way to borrow money. You can apply for a try.