What will happen to Zhongan loans overdue?

Zhongan Loan is a credit loan launched by Chongqing Zhongan Microfinance Co., Ltd. Many people have applied for Zhongan Loan, but they can't get it out after borrowing it. What will happen to Zhongan loans overdue?

What will happen to Zhongan loans overdue?

1 collect penalty interest.

Zhongan loans overdue will charge a penalty interest, the calculation formula of which is = overdue days corresponding to the penalty interest rate of overdue residual principal. The number of overdue days is calculated from the day after the repayment date until it is paid off. The longer the overdue time, the higher the penalty interest.

2 Affect life

After Zhongan loans overdue, Zhongan's loan personnel will notify the borrower to repay the loan by calling or sending short messages. Phone calls and text messages several times a day have seriously affected their lives.

3 affect the credit report

Zhong' an loan is for credit investigation. If the borrower has overdue behavior during the use of Zhongan Loan, the system will report the overdue record to the central bank for credit investigation, thus affecting personal credit investigation.

It should be noted that the consequences of the public security in loans overdue are very serious. Therefore, it is suggested that borrowers must repay on time, and it is most important to maintain good credit information.