Compensation for prepayment of mortgage is generally a compensation fee charged by the borrower for repayment before the loan expires. Compensation for prepayment is a compensation fee paid to the lender by the loan policy, and it can also be understood as another form of prepayment penalty.

in general, prepayment compensation = prepayment amount * loan execution interest rate * months in advance /12, and users can calculate the compensation fee for prepayment according to this calculation formula. Of course, not all bank loans need to pay compensation in advance, specifically according to the loan contract. In addition, some banks do not need to pay compensation in advance when the loan reaches a certain period.

will bank of communications collect repayment compensation for early mortgage repayment?

on August 1st, official website, the Bank of Communications issued an announcement on the adjustment of compensation fees for early repayment of personal mortgage loans and personal online mortgage loans (consumption). According to the announcement, after the adjustment of the charging standard, the preferential treatment of early repayment of some loans without compensation once a year will no longer continue, and all early repayments (including all and part) will be compensated according to 1% of the principal amount of early repayment.

At about 17: pm on August 2, it was reported that the announcement in official website of Bank of Communications showed that "the page does not exist", and some staff members said that they "may complain too much and removed it", but the specific reasons were not clear.

according to the earlier announcement, the adjustment will be implemented on November 1st this year, and local branches have the authority to reduce or exempt compensation. However, the relevant rules are still unclear, and local branches are still "waiting for notice".

The announcement said that in order to further improve the financial services related to personal mortgage loans and personal online mortgage loans (consumption) and standardize the prepayment compensation charging behavior, Bank of Communications adjusted the prepayment compensation charging standards for personal mortgage loans and personal online mortgage loans (consumption).

after adjustment, the compensation for prepayment of personal mortgage loans (including personal housing loans, personal commercial housing loans and personal factory loans) and personal online mortgage loans (consumption) shall be subject to the agreement in the loan contract, and the compensation ratio shall be 1% of the prepayment principal amount.

Bank of Communications also mentioned that on the basis of the contract, local branches have the authority to reduce compensation. The adjusted charging standard will be implemented on November 1st, and the original charging standard will still be implemented before November 1st.