Mortgage repayment only needs to transfer or deposit the monthly payment into a designated bank account. The general mortgage repayment date is the designated date of each month. There are average capital repayment method, matching principal and interest repayment method and fixed interest repayment method. Before the repayment date of each month, transfer the required amount to the designated bank card several days in advance to avoid the failure of deduction.

Who is suitable for prepayment?

1. If the loan with equal principal and interest does not exceed one third of the loan term, such mortgage borrowers can repay in advance.

2. In the average capital, if the loan term does not exceed a quarter of the total loan term, such mortgage borrowers can make partial prepayment.

3. If you want to pay off the mortgage, or if you want to pay off the loan and take back the mortgage to sell the house, such mortgage holders can repay in advance.

4. For mortgage borrowers with high monthly provident fund, since the provident fund is earmarked, if it is not used to repay the mortgage, it will not be available in the account, so it is better to repay the loan in advance.

5. If you really don't like to "borrow money" and the mortgage is in the early stage of repayment, you can consider repaying the loan in advance. On the one hand, you can pay off the loan as soon as possible. On the other hand, you can save a lot of mortgage interest.

6. If the mortgage interest rate is floating, although the benchmark interest rate of commercial bank loans has been lowered, if your mortgage interest rate is not discounted and floating, you can also consider repaying in advance, thus reducing the loan cost.

7. Mortgagers without high-yield financial channels have many financial products with annual yield higher than the benchmark interest rate. But if you are not a good financial manager and have no high-yield financial channels, you may wish to consider prepayment.

What is the most cost-effective way to repay the mortgage?

1. When signing the loan contract, you can enjoy the interest rate discount of 30% to 8.5%. Because you have enjoyed the lower discount interest rate, you are now in the channel of interest rate reduction. If the central bank doesn't cut interest rates during the year, even if it is implemented at the recent interest rate of 65438+ 10/in June next year, the interest will only be lower than that in the previous period, so it is not appropriate to repay the mortgage in advance.

2. Since the average capital divides the total loan amount into costs, the repayment interest is calculated according to the remaining principal. In other words, the later this repayment method is, the less the remaining principal will be, so the less interest will be generated. In this case, when the repayment period exceeds 1/3, the borrower has already paid nearly half of the interest, and the later repayment is mostly the principal, and the interest level has little effect on the repayment amount. It is not recommended to repay the mortgage in advance.

3. Matching principal and interest repayment Add up the total principal and interest of the mortgage loan and distribute it evenly to each month. The monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled monthly. In other words, the proportion of principal in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month. By the middle of repayment, most of the interest has been paid off, and it is of little significance to repay the mortgage in advance.