When will the five-year renovation loan be paid off? General banks will set a basic time. For example, a three-year one can be repaid in half a year, and a five-year one can be repaid once a year later. In addition, for these prepayments, a certain fine or handling fee must be charged. In fact, it is not the most cost-effective way to repay the mortgage in many years. As long as the loan is repaid, it will generate interest, but if it is repaid in advance, the interest will be less, and if it is not repaid in advance, the interest will be more.

When will the five-year renovation loan be paid off?

However, most people will repay the loan in advance after completing the mortgage. After all, no one wants to pay more interest, but when repaying the loan in advance, we must judge whether it is necessary to repay the loan in advance. For example, the repayment time has exceeded one-third of the total repayment period. At this time, most of the interest has been paid off, and there is no need to repay in advance.

Two, personal housing renovation loan interest rates in accordance with the provisions of the people's Bank of China personal interest rates for the same period.

That is to say, the annual interest rate from 6 months to 1 year is 5.58%, from 1 to 3 years is 5.76%, and from 3 to 5 years is 5.85%. However, at present, more than half of the products on the market have high requirements for consumers, or the threshold for asset certification is high, or people in specific industries, VIP customers and company managers can apply, so we must strictly examine the details of the applicant's work nature, industry, income and so on. How can ICBC apply for prepayment 1? First of all, we must find out whether we can repay the loan in advance. We can consult the loan bank, the counter or customer service. If you can repay the loan in advance, you need to prepare the required materials, such as my ID card, loan contract and other user materials required by the bank.

To sum up, to borrow money from a bank, you need to explain the purpose of the loan and provide relevant supporting materials, such as purchasing real estate, production and operation turnover, decoration, etc. If it is a mortgage loan, the house must have three certificates to pay off the loan balance. If it is a house mortgaged in a bank, if it is not clear in the end, it can also be mortgaged twice.