Legal ways for banks to recover funds

Legal analysis: (1) Generally, within one week to half a month after the deadline, there will be a short message for collection. (2) overdue for more than one month or a billing date, collection. (3) If it is more than three months, the bank will send relevant personnel to collect it at home. (four) more than half a year, the bank shall bring a lawsuit to the court. (5) If it exceeds one year, the bank will outsource the collection and hand it over to the collection company for collection.

Legal basis: Article 21 of the Regulations on the Administration of RMB Interest Rate stipulates that the interest rate of medium and long-term loans (with a term of more than one year) is fixed at one year. The loan (including all the funds that should be allocated by installments within one year from the effective date of the loan contract) bears interest according to the legal loan interest rate of the corresponding grade on the effective date of the loan contract, and one year later, the interest rate of the next year is determined according to the legal loan interest rate of the corresponding grade at that time (the first loan is paid by installments). Medium and long-term loans are settled quarterly, and the 20th of the last month of each quarter is the settlement date. The interest that cannot be paid on schedule during the loan period shall be compounded quarterly according to the contract interest rate, and after loans overdue, it shall be compounded at the default interest rate.