The mortgage interest rates of individual housing in this bank is 5.88%, which is equivalent to a benchmark increase of 20%. It is difficult for investment and wealth management products with safe principal and stable income to achieve such high annualized income. Unless you are an expert in investment, you can get an annualized income far exceeding 5.88%. Therefore, if they have extra funds, they should choose to repay in advance, which can effectively reduce their interest expenses and reduce the repayment pressure.

The loan term is 20 years, and the repayment method of equal principal and interest is adopted. The monthly repayment is 59.60.01yuan, and the total interest is 590,400 yuan. If the average capital is used, the repayment amount in the first month is 76 16 yuan, and then it will be reduced by 17. 15 yuan every month, and the total interest will be 495,900 yuan. It can be seen that after 20 years, the average capital will pay about 94,500 yuan less interest than the equal principal and interest.