The best prepayment time for commercial loans is 1 year after the loan. After handling the commercial loan 1 year, users will choose the best repayment method at the best time, regardless of whether they use equal principal repayment or equal principal and interest repayment. Among them, the borrower requires the user to pay liquidated damages, but the liquidated damages will be lower than the interest earned.
Extended data:
Commercial loans, in fact, can also be called personal housing loans, urban residents can go to the bank to apply for commercial loans when buying a house. In this way, only a down payment is required to buy a house, and the balance is paid in the form of a loan.
The application conditions for commercial loans mainly include:
1. The applicant should be between 18 and 65 years old.
2. The object of commercial loans is urban residents, so the applicant must have a permanent residence in the town or a valid residence status.
3. The applicant must have a legal and stable job and income, and can provide proof of work and income to prove that you have the ability to repay the loan principal and interest on time.
4. Need to provide a house purchase contract, agreement or letter of intent.
5. Need to provide proof that the down payment accounts for at least 30% of the house price. But different banks may have different requirements for down payment.
6. The applicant must have assets recognized by the lender as collateral or pledge, or have a guarantee recognized by the lender.
7. Personal credit should be good, and bad credit records are not allowed on personal credit records.
8. In addition to the above conditions, the lending bank may stipulate other conditions, depending on the bank you are lending.
Changes in commercial loan interest rates:
If the user chooses LPR fixed interest rate mode, the commercial loan interest rate will remain unchanged during the loan period. The user selects the LPR base point floating interest rate model. When LPR is adjusted, the commercial loan interest rate will change in the next year. Therefore, whether the commercial loan interest rate will change is related to the loan interest rate model.
LPR fixed interest rate model or floating interest rate model has its own advantages and disadvantages. Users can choose the loan interest rate model according to their own cognition and needs.
After buying a house, transfer the commercial loan to the provident fund:
Commercial loans can be transferred to provident fund loans after buying a house. Users who meet the conditions of commercial loans to provident fund loans can apply for commercial loans to provident fund loans. It should be noted that some areas require commercial loans to be paid off before they can be converted into provident fund loans, which requires users to prepare repayment funds in advance. Without sufficient repayment funds, commercial loans cannot be converted into provident fund loans.
Local regulations allow commercial loans to be directly converted into provident fund loans without repayment, so users do not need to pay off commercial loans in advance. As long as the commercial loan is not overdue and the user meets the conditions of provident fund loan, he can directly handle the business of transferring commercial loan to provident fund loan. Since there is no limit on the loan amount of commercial loans and there is a limit on the amount of provident fund loans, when commercial loans are converted into provident fund loans, you can only apply for provident fund loans within the prescribed amount.
When the amount of provident fund loans is insufficient, users can apply for portfolio loans, which can solve the problem of insufficient provident fund loans. Commercial loans allow users to change to portfolio loans, but users need to meet the conditions of both commercial loans and provident fund loans.
How to calculate the monthly payment of bank commercial loans?
The loan interest rate is 5.445%, which is the annual interest rate. Converted into a monthly interest of 5.445%/12,300,000 yuan, with a term of 10 year (120 months), and the monthly payment is:
3000005.445%/ 12 ( 15.445%/ 12) 120/[( 15.445%/ 12) 120]
Description: 120 is the power of 120.
Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans. Commercial loans, also known as individual housing loans, are commercial banks and housing savings banks approved by the People's Bank of China, which provide loans for urban residents to purchase ordinary housing for their own use and implement the statutory loan interest rate. Many commercial banks in Beijing have this business, such as CCB and ABC. The procedures for applying for loans are basically the same.