What will happen if the online loan is overdue?

For online loans that do not receive credit information, there will be the following consequences:

1, dunning, overdue online loans will always be dunning, and life and work have been greatly affected.

2. Bear high overdue expenses. Of course, online loans should pay attention to the issue of interest. According to the law, the interest rate agreed by the borrower and the borrower shall not exceed four times the quoted interest rate of the one-year loan market when the contract is established. If the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it. The interest rate agreed between the borrower and the borrower is four times the quoted interest rate of the one-year loan market when the contract is established, and the interest agreement in excess is invalid. If the borrower requests the lender to return the overpaid interest, the people's court shall support it.

legal ground

Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases.

If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds 4 times the market quotation of one-year loan at the time of the establishment of the contract.

The "one-year loan market quotation" mentioned in the preceding paragraph refers to the one-year loan market quotation issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20th, 20th, 20th19th.