(1) In general, the borrower needs to apply to the loan bank for prepayment one month in advance.
(2) The repayment amount is an integral multiple of 10000 yuan.
(3) Provisions on liquidated damages.
At present, most banks stipulate that borrowers can only apply for early repayment after the loan term expires for one year, and no penalty is charged.
Therefore, please consult the loan bank for the provisions in Articles (1) and (3) before prepayment. ?
2. At the time agreed by the bank, the borrower shall go to the loan bank for prepayment with his ID card, property certificate (land certificate), loan contract and prepayment application form.
Extended data:
In addition, you need to:
1, telephone reservation for prepayment. The appointment telephone number is generally available in the loan contract. If not, you can call the customer service phone of China Merchants Bank directly. The relevant information of the quasi-principal prepayment generally includes the borrower's identity certificate, loan contract, repayment account (bank card, passbook) and other materials required by the bank.
2. Prepare the materials needed for prepayment and go through relevant formalities at the agreed time and place. Go through the formalities and deposit the money in the account. The advance payment has been completed. In addition, for how long it takes to complete the prepayment of China Merchants Bank, you need to make an appointment with the handling bank by phone first, depending on the regulations of the handling bank.
3. Remind everyone that once a personal loan customer chooses to go to the bank for prepayment, the prepayment amount is generally not reusable. You need to know the relevant regulations of the bank on early repayment, and then decide whether to apply for early repayment after weighing the pros and cons.
The repayment method refers to the way that the borrower repays the principal and interest of the loan, and the interest is calculated according to the remaining principal of the borrower. Different repayment methods determine the speed of principal repayment, which leads to different total interest payments.
Matching principal and interest repayment method: the principal increases month by month, the interest decreases month by month, and the monthly repayment amount remains unchanged;
Average capital repayment method: the principal remains unchanged, the interest decreases month by month, and the monthly repayment amount decreases.
Compared with the two, in the case of the same loan term, amount and interest rate, at the initial stage of repayment, the monthly repayment amount of average capital repayment method is greater than the equal principal and interest. However, according to the whole repayment period, average capital's repayment method will save the expenditure of loan interest.
Generally speaking, the repayment method of equal principal is suitable for borrowers who have a certain economic foundation, can bear heavy repayment pressure in the early stage and have an early repayment plan. Matching principal and interest repayment method is convenient to arrange income and expenditure because the monthly repayment amount is the same, and it is suitable for borrowers whose income is relatively stable because economic conditions do not allow early repayment and excessive investment.
References:
Baidu encyclopedia-repaying loans in advance