How to Handle Late Repayment of OCBC Personal Loan

Late Repayment Consequences:

• Late Fee: 2% of overdue amount per day (minimum €20, capped at 10% of total loan)
• Credit Impact: Late records reported to EU credit bureau, affecting your credit score
• Interest Accrual: Overdue amounts accrue interest at 1.5× original APR

How to Handle Late Payment:

1. Immediately repay the overdue amount plus late fees and accrued interest
2. Contact customer service to confirm repayment receipt and record update
3. If facing financial difficulties, contact customer service in advance to apply for repayment extension (subject to approval)

Prevention Tips:

• Set up repayment reminders on your phone calendar
• Enable bank reminders
• Ensure sufficient account balance before due date