Will China Bank's mortgage deduction be insufficient for the second deduction? That's what the bank said

Mortgage deduction starts from the second month of loan issuance, and there will be a repayment date in the contract. On the repayment date, the bank system will deduct money from the bank card account designated by the lender. If the bank card has insufficient funds, the deduction will fail.

China bank mortgage deduction will not be enough for the second time?

If China Bank didn't deduct the mortgage, it would deduct it twice. On the repayment date of the mortgage, China Bank will initiate two deductions. If the first deduction fails, the lender will be prompted by SMS, and the lender will transfer the money to the repayment bank card in time. If the system deducts money successfully for the second time, it is not considered as overdue repayment.

Provisions of China Bank on automatic deduction of personal loans:

The automatic deduction method is twice a day. The system will make a deduction before the business starts on the morning of the repayment date, and make a second deduction after the business ends on the same day (normally, it starts at around 18 o'clock every day, so it is recommended to deposit enough funds in advance to avoid overdue). The loan account will be refunded according to the principle of deduction (non-working days will not affect the deduction). If the repayment date is 3 1, there is no special month on this day.

These rules do not apply to loans (such as housing provident fund loans) entrusted to China Bank for deduction. Overdue loans will not affect the automatic deduction method, and the system will automatically deduct money, still twice a day.

Unlike credit card repayment, mortgage repayment has a three-day tolerance period. It is best for the lender to deposit the full amount into the account one day in advance to avoid overdue records. Lenders can also bind the repayment account with other accounts such as salary cards through online banking to make an appointment for transfer. For example, if the monthly repayment date is 15, then it is set as automatic transfer on 14, and the amount is greater than the monthly mortgage repayment amount.

China bank mortgage deduction rules are subject to the contract. If your bank card has enough money on the repayment date, but the bank has not deducted money, you can take the initiative to consult the bank to avoid problems in the banking system that lead to overdue.