You can repay only part of the loan early. Generally, there are no strict regulations on early repayment in loan contracts. At most, there are only restrictions on the repayment time and minimum value. If the lender wants to repay the loan in advance, the last step is to go to the handling bank to consult and report in advance. The bank will provide reference information and inform relevant matters.

What are the precautions for early repayment of the loan?

1. Do not forget to cancel the mortgage registration after "paying off the mortgage"

Whether it is for those who have paid off the mortgage during the contract period, Whether the loan is repaid within a certain period of time or repaid in advance, the lender needs to remember to cancel the mortgage registration and get back the property ownership certificate of his house. However, each bank has different operating regulations, so you need to consult beforehand.

2. Do you need to pay a handling fee for early repayment?

When a lender applies for a loan, he or she will usually sign a loan contract with the bank, in which there will be some "early repayment fee" "Fees" related clauses, so if the bank wants to charge a handling fee for early loan repayment, there is a legal basis. The bank may charge a certain handling fee. Therefore, when you want to repay the loan early, you must ask the bank in advance whether there are handling fees and other issues.

3. Do you need to pay liquidated damages for early repayment?

The bank's regulations on early repayment actually have a time limit. If the lender's loan contract has not been effective for one year, If so, it is best not to apply for early repayment, because the bank may use a specific loan interest rate to charge an extra month of interest as liquidated damages based on the amount of early repayment. Therefore, when considering early repayment, you still need to choose the right time, otherwise you will have to spend an extra month of interest and waste a certain amount of money.

4. Handle early loan repayment procedures

Lenders who plan to repay their loans early also need to go through certain legal procedures. They must submit a written application one week to one month in advance. ; And a specific repayment time must be agreed upon. During this time, the lender must bring some necessary documents, such as ID card and loan contract to the bank to fill out the loan repayment application form and early loan repayment agreement.

It should be noted that all the loan repayments should be deposited into the designated passbook or bank card. Don’t deposit the wrong amount, otherwise the bank will not automatically deduct the payment, and it will not be considered in advance. Repayment.

5. Is there any limit on the number of early repayments?

Lenders also need to pay attention to the fact that when applying for early repayment, they must ask the relevant bank in advance about the early repayment requirements. Is there a limit to the number of times the situation exists. Based on this specific situation, you can then determine whether you need to repay the loan in advance. You need to take a long-term view and consider future loan repayments.