At the domestic level, many would choose to use borrowing platforms to address short-term financial distress, of which 360 were well known. So, what happens if your loan on the 360 loan is overdue by one day

How do you calculate a 360-day overdue interest rate

First of all, it is recommended that you understand that if you delay one day on the 360 debits, it will not affect your letter of call to the People ' s Bank. But you'll have to be prepared to pay for the delay. There are two main ways to repay the 360 debits: the manner in which interest is calculated will vary depending on the manner in which you choose to repay the loan。

In the case of a lump sum, if the loan is overdue by one day, the formula for calculating the penalty is as follows: the overdue interest rate = the overdue principal = 1.5 times the interest rate x 1 day。

IF, HOWEVER, YOU CHOOSE TO PAY IN INSTALMENTS, IF YOU DELAY BY ONE DAY, THE FORMULA FOR CALCULATING THE INTEREST RATE WILL BE: THE OVERDUE INTEREST RATE = 51 TP3T OF THE AMOUNT TO BE REPAID PER INSTALMENT PLUS 0.11 TP3T X 1 DAY OF THE OVERDUE PRINCIPAL AMOUNT。

If you are unfortunately overdue in the use of the 360 debits, you need to take immediate action, first by immediately depositing the arrears into the repayment account and then by calling the 360 debits to inform them of your overdue payments and to ask them for help in paying their arrears. Following the system ' s successful transfer of arrears, you can contact the client again to provide them with details of your overdue status and to provide the necessary information to prove that you are not in bad faith overdue, in order to ask the Platform to forgive this overdue borrowing。