2. Call the loan bank to inquire about the application time and minimum repayment amount of prepayment, and prepare other materials that need to be prepared.
3, according to the requirements of the bank personally apply to the relevant departments for early repayment.
4. The borrower shall go through the relevant prepayment procedures at the borrowing bank with relevant certificates.
5. Submit the prepayment application form and deposit the prepayment in the counter.
Provisions of Shanghai Pudong Development Bank on prepayment of mortgage loans
If the loan is repaid in advance for less than one year after Shanghai Pudong Development Bank handles the mortgage, there are two ways of liquidated damages, one is 1.5% interest, the other is 3% interest, and no liquidated damages will be charged after one year of loan.
Matters needing attention in repaying loans in advance
1. To shorten the loan term, it is necessary to re-sign the loan contract.
If you choose to shorten the loan period, you need to re-sign the loan contract to repay the loan in advance. For example, the loan of 6,543,800+0,000 yuan has been repaid, and the remaining 700,000 has not been repaid. If you want to apply for prepayment of 200,000 yuan, and if you choose to shorten the loan term, after repayment of 200,000 yuan, the remaining 500,000 yuan will be re-signed with the bank, and the remaining loans will be implemented according to the latest mortgage interest rate. This year, the credit policy has been tightened, and interest rate concessions in many hot cities have plummeted. The previous interest rate was 8.5. In addition, the bank will re-evaluate the borrower's personal qualifications. Some lenders have credit problems during the repayment period, which will affect the subsequent repayment and may even increase the loan interest rate!
2. Early repayment may not be cost-effective.
If you enjoy the interest rate discount of less than 10% when you borrow money, it is better to regard it as a financial reality than to repay it in advance. Although debt-free is light, debt-free will make the process of primitive accumulation of wealth become long. Good debt is a lever to leverage more wealth.
Of course, if you want to reduce the monthly repayment burden, it is another matter to have your own plans and plans. When deciding to repay the loan in advance, it is best to consult the loan bank in advance. Those who have already bought a house should ask about the current policy requirements and prepare to buy a house. If they plan to repay in advance in the future, they should also write the terms of breach of contract, liquidated damages and other important contents into the loan contract when asking about the policy. After all, policy changes are one of the risks that affect the early repayment of loans to buy a house. The more comprehensive they are, the more they can minimize the risk.