1. Equal principal and interest: equal principal and interest repayment every month until the loan is paid off. This way makes the monthly repayment amount relatively stable, which is suitable for borrowers with relatively stable income.
2. Average capital: the fixed principal is repaid every month, and the interest decreases with the loan balance. This means that the monthly repayment amount will gradually decrease, but the total interest expenditure will be slightly higher than the equal principal and interest method.
3. Pay interest quarterly and repay the principal at maturity: pay interest quarterly and repay the principal at maturity. This way can reduce the repayment pressure in the case of weak affordability, but it should be noted that the last installment needs to pay off all the principal.
4. Interest before principal: only pay interest every month, and pay off the principal in one lump sum at maturity. This method reduces the repayment pressure in a short time, but it needs to prepare enough principal in advance for the last repayment.
To sum up, the repayment methods of online loans include equal principal and interest, average principal, quarterly interest payment, repayment of principal at maturity, and interest before principal. Choosing the repayment method that suits you needs to consider your personal financial situation and repayment ability. Understand the loan agreement and communicate with the online lending platform in time to ensure timely repayment and avoid overdue fees or bad credit records.
Extended data:
According to Chinese laws, online lending companies should clearly stipulate the repayment method in the loan contract and remind borrowers to fulfill their repayment obligations. The Borrower has the responsibility to repay the loan according to the repayment method and time agreed in this Contract. If repayment is difficult, the borrower can negotiate with the online lending platform to adjust the repayment plan to avoid overdue and credit loss.