At present, most banks generally provide the following repayment methods: (1) equal repayment of principal and interest. (2) Repayment of equal principal. (3) One-time repayment of principal and interest. (4) Pay interest and principal on schedule.
legal ground
According to Article 675 of the Civil Code, the borrower shall repay the loan within the agreed time limit. There is no agreement or unclear agreement on the loan term; If it cannot be determined in accordance with the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
How many repayment methods are there for personal loans? What are the characteristics of each repayment method?
How many repayment methods are there for personal loans? What are the characteristics of each repayment method?
In order to meet the needs of different borrowers with different incomes, banks have introduced different repayment methods: some repayment methods repay the principal faster, while others repay the principal slower. Although different repayment methods lead to different total interest, all repayment methods calculate interest according to the borrower's remaining principal.
Therefore, which repayment method to choose is not the most economical, only more suitable. At present, the common repayment methods of personal loans mainly include matching principal and interest, average capital, matching interest, interest first and principal later.
Matching principal and interest: the monthly repayment amount is the same, with more interest in the early stage and less principal, less interest in the later stage and more principal. Mortgage loan is the most typical one.
In the repayment method of equal principal and interest, it is generally not recommended to repay in advance when the repayment exceeds half, because the later repayment is basically the principal.
Average capital: the monthly repayment amount is different, but the monthly principal is the same, and the interest decreases month by month. Alipay and WeChat borrow money.
It is a typical average return on capital.
Equal interest: the principal and interest paid every month are the same.
Pay the interest first, then the principal: only pay the interest every month, and pay the principal once at maturity.
If it is the same annualized interest 10%, it is most cost-effective to pay interest first, and it is least cost-effective to wait for such interest.
The repayment methods of personal loans mainly include
Legal analysis: there are several repayment methods for personal loans: equal principal and interest repayment; Repay the principal in equal amount; One-time repayment of principal and interest; And pay interest and principal on schedule. If there is an agreement in the loan contract, repayment shall be made in the agreed way; If there is no agreement, the borrower can negotiate with the lender to repay the loan in the above way. Legal basis: Civil Code of People's Republic of China (PRC). Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest. Article 680 The loan interest rate is prohibited from violating the relevant provisions of the state. If the loan contract does not stipulate the payment of interest, it shall be deemed as no interest. The loan contract is not clear about the way of interest payment, and the parties can not reach a supplementary agreement, according to the local or
What are the common repayment methods of personal loans?
How to repay the personal loan? What are the common repayment methods of personal loans? Personal loans refer to local and foreign currency loans issued by banks or other financial institutions to natural persons who meet the loan conditions for personal consumption, production and operation. The following are the repayment methods of personal loans.
Personal loan repayment method
1. One-time repayment of principal and interest when due.
The one-time repayment method is also called the final settlement method. The borrower must pay off the loan principal and interest on the loan maturity date, and the interest will be paid off together with the principal. This method is generally applicable to loans with a term of 1 year (including one year).
2. Equal principal and interest repayment method
Matching principal and interest repayment method refers to the average repayment of loan principal and interest in the same amount every month within the loan period.
3. Average capital repayment method
The average capital repayment method refers to the equal repayment of the loan principal every month during the loan period, and the loan interest decreases with the balance of the principal.
4. Equal ratio cumulative repayment method
The borrower repays the loan according to a certain proportion of the accumulated amount (installment amount) in each time period.
5, equal cumulative repayment method
The equal cumulative repayment method stipulates the "fixed amount" of repayment in each time period. When handling the loan business, the customer agrees with the bank to increase or decrease the repayment interval and amount.
6. Combination repayment method
The combined repayment method is 1 1, the loan principal is repaid in installments, and the interest is calculated according to the actual time occupied by the funds.