You can submit a written application to the Bank of China according to the conditions agreed in the contract, and the Bank of China will review the conditions that should be met in the loan contract and the agreement on early repayment.
The prepayment must be approved by the prepayment procedure bank of the branch where you handle the loan. I suggest you go to the handling outlets as soon as possible.
The expenses for prepayment shall be implemented according to the loan contract. For details, you can check the loan contract or consult the Bank of China loan processing network.
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.
2. What are the conditions for prepayment of bank mortgage in China?
You can repay in advance, but there is a penalty. If the loan from the Bank of China is repaid in advance for less than one year, a penalty interest of no more than six months will be charged (calculated according to the loan interest rate on the prepayment date). If the loan is repaid in advance after one year, no penalty will be charged. As for the repayment, it depends on the repayment interest rate at that time to calculate how much principal has been repaid in recent years.
3. What are the provisions for prepayment of bank mortgage in China?
There is no fixed requirement for prepayment of mortgage. Generally speaking, the loan can be repaid in advance after it is repaid to a certain extent, and there is no need to pay liquidated damages or pay a few percent of the loan amount as liquidated damages; After the loan is repaid to a certain extent, the interest paid for the remaining loan period is liquidated damages; And the loan does not support prepayment. The calculation of liquidated damages for early repayment of China Bank depends on whether the borrower and the borrower indicate relevant matters in the loan contract, and everything shall be implemented in accordance with the provisions of the loan contract.
4. What are the requirements for prepayment of bank loans in China?
Conditions, restrictions and specific provisions for prepayment of bank loans in China: If the offline mode is adopted, the borrower can apply for prepayment according to the conditions agreed in the contract, but it must submit a written application to the lender in advance and handle it with the consent of the lender. Note: The loan contract clearly stipulates the conditions to be met for prepayment and the number of days to apply for prepayment in advance. If the offline mode is adopted for prepayment, the borrower must go to the branch of China Bank where you handle the loan for prepayment. As prepayment requires approval, it is recommended that you apply to BOC branch as soon as possible. The expenses for prepayment shall be implemented according to the loan contract. At present, the Bank of China needs to handle the prepayment of personal housing loans in person, and does not support the agency for the time being. In addition to meeting the contract, online prepayment depends on whether the bank lending institution of China supports online prepayment. For details, please consult the loan institution of Bank of China. If the Bank of China Loan Branch has opened online prepayment, you can initiate partial or full prepayment through mobile banking. After the prepayment is completed, the repayment amount will be adjusted accordingly. Mobile banking does not support direct adjustment of repayment amount for the time being. 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 GOAPP to handle related business.