First, the borrower should first check the requirements for early repayment in the loan contract and pay attention to whether it is necessary to pay liquidated damages for early repayment;

Second, call the loan bank to inquire about the application time and required information for prepayment;

Third, according to the requirements of the loan bank, apply to the relevant departments for early repayment;

Fourth, the borrower carries relevant information to the loan bank for prepayment procedures;

Fifth, deposit the prepayment into the repayment account, wait for the bank to deduct money, or directly bring cash to the loan bank for repayment.

Different banks have different regulations, which are embodied in the following aspects:

1, the handling process is different.

Each bank's business has its own characteristics, and the procedures and processes for prepayment are different. Generally, you need to call the bank for consultation, and the order of filling in the form and approval will be different, mainly in two categories.

(1) Make an appointment by phone before filling out the form.

For example, in most branches of Industrial and Commercial Bank of China and Bank of Beijing, borrowers can first agree with the bank on a repayment date, that is, at a specified time, and then go to the bank to fill out an application form for prepayment of personal housing loans.

(2) Fill in the form before approval.

Some banks need to fill in the application form for prepayment of individual housing loans. For example, China Construction Bank needs the approval of relevant banking departments before the borrower can repay the loan.

2. The treatment cycle is different.

Most banks need borrowers to make an appointment for repayment one week in advance, and branches of individual banks may need to make an appointment three months in advance.

3. The collection of liquidated damages is different.

Most banks do not need to pay liquidated damages for prepayment, but some banks will determine the proportion of liquidated damages according to the repayment time. For example, the Bank of China requires a penalty interest of three months for mortgage loans of less than one year, two months for mortgage loans of more than one year and less than two years, and one month for mortgage loans of more than two years and less than three years, mainly subject to the signed contract. Buyers who want to repay in advance must carefully read the provisions on liquidated damages in the purchase contract and loan-related contracts, and if necessary, it is best to go to the bank outlets for manual consultation.

4. The time required for prepayment is different with different deduction time.

Each branch has different requirements. Generally, the bank will call after the appointment is approved.

(The above answers were published on 20 17-02- 15. Please refer to the current actual purchase policy. )

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