Loan prepayment of Bank of China: After the borrower submits a written application for prepayment to the lender, with the consent of the lender, he can repay part of the loan principal or settle all the loan principal and interest in advance.
1. If you apply for prepayment of personal housing commercial loans in China Bank, you can apply for prepayment according to the conditions agreed in the contract, but you must submit a written application to the lender in advance and get the approval of the lender. Note: The loan contract clearly stipulates the conditions to be met for prepayment and the number of days to apply for prepayment.
2. Prepayment needs to go through the prepayment procedures at the China Bank outlet where the loan is handled. As prepayment requires approval, it is recommended that you apply to BOC branch as soon as possible. The expenses for prepayment shall be implemented according to the loan contract.
Tips: At present, I need to handle the prepayment of personal housing loans of Bank of China, and agency is not supported for the time being.
The above contents are for your reference. Please refer to the actual business regulations.
If in doubt, please consult the online customer service of China Bank or download and use the mobile banking APP of China Bank to handle related business.
What are the provisions for prepayment of bank loans in China?
Conditions, restrictions and specific provisions for early repayment of bank loans in China:
If the offline mode is adopted, the borrower can apply for early repayment according to the conditions agreed in the contract, but it must submit a written application to the lender in advance and handle it with the consent of the lender.
Note: The loan contract clearly stipulates the conditions to be met for prepayment and the number of days to apply for prepayment in advance. If the offline mode is adopted for prepayment, the borrower must go to the branch of China Bank where you handle the loan for prepayment. As prepayment requires approval, it is recommended that you apply to BOC branch as soon as possible.
The expenses for prepayment shall be implemented according to the loan contract.
At present, the Bank of China needs to handle the prepayment of personal housing loans in person, and does not support the agency for the time being.
In addition to meeting the contract, online prepayment depends on whether the bank lending institution of China supports online prepayment. For details, please consult the loan institution of Bank of China.
If the Bank of China Loan Branch has opened online prepayment, you can initiate partial or full prepayment through mobile banking. After the prepayment is completed, the repayment amount will be adjusted accordingly. Mobile banking does not support direct adjustment of repayment amount for the time being.
The above contents are for your reference. Please refer to the actual business regulations.
How does China Bank repay the loan in advance?
You can initiate the prepayment operation of national student loan, deposit, wealth management, personal mortgage revolving loan and personal mortgage revolving loan through personal online banking/mobile banking. Other loans still need to be repaid in advance at the BOC counter.
For details, please consult the loan handling bank of China.
The above contents are for your reference. Please refer to the actual business regulations.
How does China Bank repay the loan in advance?
You can log in to China Bank Mobile Banking and use the "Loan-My Loan" function to select the corresponding loan for prepayment.
Tips:
Only some loan types support prepayment. If there are no special requirements, as long as the balance of the repayment account is sufficient, the system will automatically deduct the payment on the repayment date.
At present, the types of loans that support online prepayment are: national student loan, online (deposit, wealth management), personal revolving loan, and BOC e-loan (BOC e-loan, youth e-loan, salary loan and commercial loan). Other loans still need to be repaid in advance at the counter. Partial repayment can be made in advance.
(Operating environment: Apple 12 mobile phone, ios 14 system, version 7. 1.7 of the Bank of China).
Early repayment is the part that the borrower pays more than the monthly principal and interest. The prepayment without fully paying off the mortgage loan is called partial prepayment. Through contractual arrangements, it is forbidden to repay in advance within the agreed time limit, which is called lock-up period. The lock-up period is 2- 10 years. After the lock-up period, the guarantee of prepayment usually adopts other methods, such as prepayment penalty or rate of return maintenance fee.
Prepayment includes full prepayment, partial prepayment with unchanged loan term and partial prepayment with shortened loan term. The loan bank can only accept the application for prepayment of personal loans from the second repayment month. Although prepayment can save interest expenses, there are four types of buyers who are not suitable for prepayment.
Handler:
1. Repayment in full in advance: after the loan bank verifies that the relevant materials are correct, it will go through the formalities of prepayment in full.
2. Early repayment with the same loan term: the loan bank instructs the borrower to fill in the relevant agreement. If the original loan guarantee method is mortgage insurance and mortgage registration has not been done, you need to go to the insurance company designated by the city center to go through the formalities of reducing the insured amount with the original policy, your ID card and relevant agreements, and the final agreement should be sent to the corresponding sub-center by the loan bank in time.
3. If the original loan guarantee method is mortgage insurance and mortgage registration has been completed, and the borrower who chooses non-mortgage insurance applies for partial repayment in advance and shortens the loan term: the loan bank instructs the borrower to fill in the relevant agreement, and the signed agreement is sent to the corresponding sub-center by the loan bank in time.
4. The mortgage insurance chosen as the original loan guarantee method is still within the insurance period, and the mortgage registration has not yet been handled: the borrower can apply for partial repayment in advance and shorten the loan period, which can be handled directly at the guarantee center.
Repayment procedures:
According to the regulations of the bank, customers need to submit a written application one week to one month in advance to agree on the repayment date. Then, according to the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill in the loan repayment application form and prepayment agreement, and deposit the money to be repaid into your account for withholding the loan principal and interest according to the requirements of the bank, and the bank will automatically deduct the money.
There is no limit to the number of times a bank repays the loan in advance, and it can pay off the loan in whole or in part. It's just that the starting amount of each loan repayment is different from bank to bank. Some regulations are 65,438+0,000 yuan or multiples of 65,438+0,000 yuan, and some banks stipulate that the loan can be repaid in advance if it is more than 1000 yuan.
Some borrowers who repay loans in advance can choose two ways: one is to reduce the monthly repayment amount and keep the repayment period unchanged; The other is to shorten the repayment period and keep the monthly repayment amount unchanged. If the income of the lender keeps increasing, you can choose the repayment method of shortening the loan term and realize the desire of being debt-free as soon as possible. If the income does not increase too much, you can reduce the repayment amount and keep the repayment period unchanged, which will reduce the repayment pressure.
This is the result of the early repayment of bank loans in China and how to do it. I wonder if you have found the information you need?