About a month. It takes about one month for the Agricultural Bank to apply for prepayment, subject to the actual approval of the Agricultural Bank. The prepayment mortgage loan of Agricultural Bank of China is relatively loose, allowing citizens to repay all loans in advance at any time after granting loans according to the contract. If only part of the repayment is made in advance, it can only wait until one year after the loan, and it is generally not accepted within one year. If you encounter a large amount of prepayment, you may need to make an appointment to queue up. In short, if you don't make an appointment in advance, you can't handle the mortgage repayment business in advance.

Is it cost-effective for ABC to repay the loan in advance?

1, enjoy a discount of 30% to 8.5% when signing a loan contract. Due to the low discount rate, it is currently in the channel of interest rate reduction. If the central bank does not cut interest rates during the year, even if the interest rate of 65438+ 10/0 next June is implemented according to the latest interest rate, it will only be lower than the previous interest rate, and it is not appropriate to repay the loan in advance.

2. Buyers whose repayment period of the same principal has passed 1/3. Because the total loan amount is equal to the average cost of capital, the repayment interest is calculated according to the remaining principal. In other words, the later the repayment method, the less the remaining principal, so the less interest will be generated. When the repayment period exceeds 1/3, the borrower has repaid nearly half of the interest, and more of it is the principal in the later period, and the interest level has little influence on the repayment amount. Payment in advance is not recommended.

3. Equal repayment of principal and interest has reached the medium-term buyer. Balanced payment is to add up the total principal and interest of mortgage loans and share them equally every month. Monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled monthly. In other words, the proportion of principal in monthly repayment increases month by month, while the proportion of interest decreases month by month. By the middle of repayment, most of the interest has been paid off, so it is meaningless to repay the mortgage in advance.