Every bank has it.

Biweekly payment is divided into interest biweekly payment and decompression biweekly payment. Biweekly interest and interest payment is mainly to speed up the repayment frequency and shorten the loan term, which is suitable for customers with stable income and strong ability to implement financial planning. Biweekly decompression payment only changes the repayment frequency from once a month to once every two weeks, while the loan term remains unchanged, which is suitable for young white-collar workers who have just entered the workplace and customers with high monthly repayment pressure.

Biweekly payment is suitable for people with stable and balanced income, such as other fixed income sources (quarterly awards and year-end awards) besides monthly income, and people with overseas, Hong Kong, Macao and Taiwan living backgrounds who are already familiar with product characteristics.

Extended data:

Precautions:

1. Biweekly repayment is to speed up the repayment of the original equal monthly payment, so the repayment person can repay the loan principal and interest in advance in a short time without increasing the repayment pressure. Compared with the same monthly payment, the customer has reduced a lot of interest expenses.

2. When choosing the loan term, compared with the monthly repayment method, the biweekly repayment method has obvious advantages: it greatly reduces the interest burden and effectively shortens the repayment period.

3. If calculated according to the preferential interest rate of 5.5 1%, using biweekly repayment method can save interest 105972 yuan, with a saving ratio as high as 20.27%, shortening the repayment period by 63 months, that is, using biweekly repayment for 30 years and paying off the loan in 24.75 years.

4. There is little difference between biweekly repayment and monthly repayment. The biweekly repayment amount is only half of the repayment amount in the same month, and the actual monthly repayment amount is almost equivalent to the original monthly repayment amount, which basically does not increase the repayment pressure.

Biweekly repayment is more suitable for people with stable and balanced income. Because the monthly income is relatively fixed, this group is unwilling to increase the monthly repayment pressure, but when there are additional sources of income, they hope to save interest by repaying in advance.

What does biweekly mortgage payment mean? Introduction of repayment method!

Nowadays, more and more people are buying houses, and most of them are buying houses for the first time, so it is inevitable that they are unfamiliar with relevant knowledge. In fact, mortgage has a lot of knowledge and ingenuity. Reasonable choice and modification can make your mortgage pressure lighter, and everyone can adjust it according to their own situation. Today, we will introduce the related contents of biweekly mortgage payment.

What does biweekly mortgage payment mean?

Everyone knows that the mortgage is paid on time every month. In fact, there is another way to repay the mortgage once every two weeks. Simply put, it is to pay the mortgage once every two weeks, which is different from the time when we paid the mortgage once a month before. The principle of biweekly payment mainly lies in higher repayment frequency and shorter repayment period, thus reducing the total repayment amount accordingly. Judging from the statistical repayment cycle, the interest paid every two weeks is much lower than the monthly interest. If the family income is stable, this repayment method is very suitable. Please consult the bank staff for details.

For example:

Spend 500 thousand to buy a house and mortgage it for 30 years. The interest rate is 1.500 yuan every two weeks and about 3,000 yuan per month. As the number of biweekly repayments has greatly increased, the principal has decreased rapidly, and the repayment period has been shortened from the previous 30 years to, and the mortgage has been repaid in advance. In this way, during the repayment period, the biweekly repayment amount is less than the monthly payment of 1 10,000 yuan, which almost saves the interest of 1/5, which is enough to buy an economical car.

"Biweekly mortgage" is mainly applicable to mortgage and mortgage loans of future houses, such as mortgage loans for first-hand houses and second-hand houses and mortgage loans for mortgage repayment.

Is the monthly mortgage interest too high? Try to save interest by paying every two weeks.

Still working as a house slave and paying monthly bills? Do you know that monthly payment can be made in two installments? Do you know that paying the mortgage twice a month can save the mortgage? Today, the guide to buying a house will explain to you what is a biweekly supply of ghosts. What are the advantages and disadvantages?

The so-called "biweekly repayment" means that the personal mortgage loan is changed from the traditional monthly repayment to biweekly repayment, and the repayment amount is half of the original monthly payment. Due to the change of repayment method and the increase of repayment frequency, the total repayment amount of the borrower has been effectively reduced, the repayment period has been significantly shortened, and customers can save a lot of interest during the repayment period.

At present, "biweekly mortgage" is mainly applicable to the mortgage and mortgage loan of future houses, such as mortgage loan and mortgage repayment of first-hand and second-hand buildings.

"sub-mortgage" business

If the customer borrows 500,000 yuan from the bank, the traditional equal monthly repayment method is selected according to the loan term of 30 years and the benchmark interest rate of 6. 12%, and the monthly repayment is 3,036 yuan; If "Biweekly Repayment" is selected, the repayment amount every two weeks is 15 18 yuan, which is equivalent to half of the original monthly payment. However, due to frequent contributions, the reduction of principal has been accelerated. Finally, the borrower can save interest expenses 1 15 186 yuan, and the interest saved ratio is as high as 19.42%. At the same time, due to frequent contributions, the reduction of principal is accelerated, and the repayment is about 26 times a year (equivalent to 13 months' monthly payment). The borrower can pay off the loan in only 24.7 years, which is 5.3 years shorter than the ordinary repayment.

computing formula

24 years is 8766 days (assuming that every 4 years happens to be a leap year), and 644 periods are 90 16 days.

There are still 250 days and 8 months 10 days, 2.5 months more than the monthly payment of 24.5 years. 15 18.52 yuan.

If the bank's daily interest rate is 6. 12%/365, then the biweekly payment for 500,000 years is 1506.52 yuan, while the current daily interest rate is 6. 12%/360, then it is1518.

Monthly payment and biweekly payment save interest, proportion and time.

10 year 5581278016373 9.65%1February

20 years 36171812 5258014.36% 33 months.

30 years 3036151811518619.42% 64 months.

Disadvantages of biweekly supply:

1。 Repayment once every two weeks. If you pay weekly or biweekly, I suggest you pay biweekly, otherwise your fund arrangement will be very troublesome. Sometimes you have to pay back the money three times a month. Can you handle it?

2。 Biweekly repayment requires much more money than monthly payment, and those who forget or have no repayment may be much higher than monthly payment. It is said that the penalty interest paid every two weeks is higher than the average. I'm confident in my financial arrangement, but I think it's still too difficult to pay every two weeks.

Advantages of biweekly delivery:

1。 It is definitely a good choice for friends whose weekly salary doubles.

2。 Biweekly payment is basically the amount of one year ago 13 months (the difference of one day per year), which is just right for many units with double salary at the end of the year. This is equivalent to paying back the money in advance at the end of each year. This is also good for the bank's capital arrangement, otherwise it will be difficult for the bank to repay the loan in advance at the end of each year.

Benefits of biweekly payment:

1。 With the increase of the real interest rate, the bank's income will definitely increase (the relativity depends on how much the cost increases, because the returned money has to be lent out to obtain income, and biweekly payment is faster than ordinary loan repayment. Lending requires marketing costs. )

2。 The acceleration of principal recovery will reduce the loan risk of banks.

3。 Attract more customers through publicity, or our customers will transfer (so there will be a handling fee of two thousandths, and 500,000 is 1000).

(The above answers were published on 2015-10-17. Please refer to the actual situation for the current purchase policy. )

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What is the most economical way to make a mortgage? Introduction of housing loan

Buying a house generally chooses to apply for a loan, and there are many doorways for buying a house loan. According to your own situation, you can adjust the repayment period, repayment method, mortgage transfer, etc. Of course, it is also important to choose a loan with low interest, simple process and high amount.

The urgently needed funds can be applied without guarantee, the application threshold is low, the expected annualized interest rate is low, the lending speed is fast, and the loan can be made on the same day at the earliest.

Tip 1: mortgage job-hopping

When buying a house, many people hope that the bank can give the expected annualized mortgage preferential interest rate, but if your current bank can't give it, then you can apply for refinancing and find a more affordable bank. Job-hopping is "refinancing", that is, the new loan bank helps customers find a guarantee company, pays off the money of the original loan bank, and then reapplies for a loan at the new loan bank. Mortgage loans will generate some fees, and some banks have "low-cost refinancing" services to attract customers.

Tip 2: Biweekly payment saves more interest.

Biweekly mortgage refers to individual mortgage loan repayment once a month instead of once a month, and the repayment amount is half of the original monthly mortgage. After the monthly payment is changed to "biweekly payment", the same amount of mortgage is still paid every month, but because the biweekly payment shortens the repayment period, higher frequency repayment can accelerate the reduction of loan principal. This means that during the whole repayment period, the loan interest repaid by biweekly repayment is far less than that repaid by monthly repayment. The disadvantage is that the lender's monthly mortgage repayment date will continue to advance. After one year, the loan will be one month more than originally planned, and the financial pressure will increase.

Tip 3: repay the loan in advance to shorten the term.

If the principal is repaid in advance, the interest naturally generated by less principal will be less. In addition, after some loans are repaid in advance, the remaining borrowers should choose to shorten the loan period instead of reducing the monthly repayment amount. Because the interest charged by banks is mainly calculated according to the time cost occupied by the loan amount, shortening the loan period can reduce interest expenses. If the loan term is shortened, it can just fall into the term category with lower expected annualized interest rate, and the effect of saving interest will be more obvious. Moreover, in the process of interest rate reduction, the expected annualized interest rate of short-term loans often drops even more. But you must calculate the accounts before repaying the loan in advance, because not all prepayment can save money. For example, the repayment period has exceeded half, and the principal in the monthly repayment amount is greater than the interest, so the effect of early repayment is not great.

Tip 5: Provident funds and portfolio loans can be offset by a large amount.

Provident fund loans and portfolio loans, personal account balances can be offset in large amounts. The so-called large offset means that the balance in the provident fund account is offset against the total loan of the owner at one time. For example, your loan is 300,000 yuan, and the balance of the provident fund account is 6,543,800 yuan. After the big offset, the amount to be repaid is only 200,000 yuan. There is no need to pay liquidated damages for this form of prepayment.

Tip 3: Adjust the interest rate on a monthly basis.

Many commercial banks have mortgage business with fixed expected annualized interest rate. In this business, no matter how the market expected annualized interest rate changes, the lender pays interest according to the expected annualized interest rate agreed in the loan contract, which is essentially to transfer the expected annualized interest rate risk from the lender to the bank. However, under the trend of interest rate reduction, it will be more cost-effective to change the fixed expected annualized interest rate of mortgage to the floating expected annualized interest rate. However, it is worth noting that changing from "fixed" to "floating" requires a certain penalty, so before making a decision, we must carefully consult the relevant bank interest rates to avoid the loss outweighs the gain.