Does Tik Tok pay interest every month?

Yes Tik Tok monthly payment is an online consumer financial service provided by Tik Tok platform, which is "consumption first, payment later". Support 3/6/ 12 installment payment. When consumers are overdue for a long time every month, the Tik Tok platform will still charge some interest, and only the first month can be interest-free. Does Tik Tok pay interest every month? Interest-free during the repayment period, and consumers can enjoy interest-free for up to 36 days. Tik Tok supports the monthly payment of the 3rd, 6th and12nd installments, but it will charge a handling fee if it is overdue for too long. For details, please check the relevant regulations. What will happen if Tik Tok's monthly payment is overdue? Because in the case of overdue, the bill amount no longer enjoys interest-free service, and the overdue amount will generate interest according to the number of overdue days. It is obviously not enough to return only the minimum repayment amount, and overdue interest must be returned together. Impact of Tik Tok overdue installment: 1, dunning, SMS notification and message reminder in Tik Tok APP will be sent before the repayment date, and telephone dunning may be conducted after the overdue period; 2. If penalty interest is incurred, it shall be calculated according to the number of days overdue; 3. The credit impact may be uploaded to your personal credit report, which will affect the installment amount; 4. Being sued, seriously overdue and charged with malicious overdraft.