China Bank, Shanghai Individual Immigrants, Will there be a penalty interest for repayment in loans overdue?

For overdue loans, Bank of China will collect penalty interest according to the actual overdue amount and overdue days, and the penalty interest rate is 50% higher than the loan interest rate agreed in the loan contract. If the loan is overdue for three consecutive months or fails to be repaid in full for a total of six months, China Bank will recover or dispose of the collateral from the borrower/guarantor until all the loan principal and interest are paid off.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GO APP to handle related business.