‘逾期’ literally means 'to exceed the period' — 逾 (yú) means 'to surpass or go beyond', and 期 (qī) means 'time limit, deadline, or scheduled period'. Together, they form an adjective meaning 'overdue' — describing something that has passed its designated time, especially deadlines for payments, returns, submissions, or renewals. It is commonly used in formal, administrative, or contractual contexts, such as banking, libraries, government services, and education.

The term carries a neutral-to-negative connotation: while it objectively states timing failure, it often implies consequences like late fees, penalties, or loss of eligibility. Unlike casual terms like 过期 (guòqī), which can refer to expired food or documents, 逾期 specifically emphasizes missing a pre-agreed or officially set deadline — not just chronological expiration. It functions attributively (e.g., 逾期费用) or predicatively (e.g., 贷款已逾期).