Borrowers need to pay attention to prepayment. Usually, the borrower needs to apply to the loan bank for prepayment one month in advance, check the requirements for prepayment in the loan contract, and pay attention to whether there is a certain penalty for prepayment.

1. Call the loan bank in advance to inquire about the application time and minimum repayment amount of the loan and other materials that need to be prepared.

2. According to the requirements of the bank, apply for early repayment in person to the relevant departments, and the borrower shall go through the relevant formalities for early repayment at the borrowing bank with relevant documents.

3. Submit the prepayment application form and deposit the prepayment in the counter.

4. If the prepayment is less than one year, there are two ways of liquidated damages, one is 1.5% interest, and the other is 3% interest. No liquidated damages will be charged after the loan is over one year.

Extended data:

Precautions for advance payment:

1. Most banks require prepayment. Some banks stipulate that they can apply for early repayment at least one year after repayment, but some banks say they can apply for early repayment at any time.

2. The interest adjustment cycle of banks is different: the repayment cycle is more than 10 years, but in the repayment cycle of users, the interest adjustment of the central bank will definitely exist, and the time for banks to adjust interest according to the interest of the central bank is also different.

3. At the time agreed by the bank, the borrower shall go to the loan bank for prepayment with his ID card, real estate license (land certificate), loan contract and prepayment application form.

4. The borrower still needs to repay the original monthly loan principal and interest repayment amount in the current month, and at the same time deposit the loan amount to be repaid in advance into the bank savings card.

5. Pay off the loan in advance and refund the insurance premium = the present value of the insurance premium paid when returning in advance-the present value of the insurance premium occupied before returning in advance.