1. For ICBC's mortgage, if the loan period is less than one year, 5% of the repayment amount will be charged as liquidated damages when it is repaid in advance; No penalty will be charged after the loan expires for one year.

2. For the mortgage loan of China Merchants Bank, if the loan time is less than one year, the interest charged for three months under normal circumstances will be liquidated damages when repaying in advance; One month's interest charged after one year's loan is liquidated damages.

3. The Agricultural Bank does not charge liquidated damages for repaying the mortgage in advance.

4. For the mortgage loan of China Bank, if the loan time is less than one year, the maximum interest for prepayment is 6 months as liquidated damages; No penalty will be charged after the loan expires for one year.

5. CCB mortgage, if the loan time is less than one year, 3% of the repayment amount will be charged as liquidated damages when repaying the loan in advance; If it exceeds one year, 2% of the repayment amount will be charged as liquidated damages; Charge 1% after two years.

Early repayment

Prepayment is generally divided into two ways: partial prepayment and full prepayment.

According to the different repayment methods, the borrower can choose to reduce the term or amount. It is understood that at present, most banks can provide five ways to repay loans in advance for customers to choose from.

First, all loans are repaid in advance, that is, customers pay off all remaining loans at one time. (There is no need to repay the interest, but it will not be refunded if it is paid)

Second, a part of the loan will be repaid in advance, and the monthly repayment amount of the remaining loan will remain unchanged, thus shortening the repayment cycle. (save more interest)

Third, repay some loans in advance, reduce the monthly repayment amount of the remaining loans, and keep the repayment period unchanged. (Reduce the monthly payment burden, but less than the second type)

Fourth, repay some loans in advance, reduce the monthly repayment amount of the remaining loans and shorten the repayment cycle. (save more interest)

Fifth, the remaining loans keep the total principal unchanged and only shorten the repayment period. (The monthly payment will increase and the interest will decrease, but it is relatively uneconomical.)

Financial experts suggest that when repaying in advance, the principal should be reduced as much as possible, the loan term should be shortened and the interest should be paid less.