Of course, there should be a clause about prepayment in the signed loan contract. You can have a look. Under normal circumstances, the loan can only be repaid in advance after one year, and you can choose to repay it in part or settle it in one lump sum in advance. If you need to repay in advance, you should contact the loan bank first, fill in the application form and determine the specific repayment date.

Second, is it cost-effective to repay the loan in advance with the equal principal and interest of 15?

It is most cost-effective to repay the principal and interest of 15 in advance in the seventh month of the fifth year.

First, normally speaking, the earlier the loan is, the more appropriate it is. However, there is a penalty, and banks generally have to repay in advance. Matching principal and interest is a way to repay loans. In fact, compound interest means that the longer your loan is delayed, the more your interest will be, because later, the interest will be included in the principal to calculate the interest you want to pay back this month, so it belongs to "compound interest".

On the surface, the equal amount of principal and interest per month is still different. Because it "the sum of principal and interest paid every month remains the same, but the proportion of principal and interest is different, and the proportion of base will become larger and larger."

Second, the equal principal and interest repayment method

1. That is, the borrower repays the loan principal and interest in equal amount every month, in which the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.

2. Because the monthly repayment amount is equal, in the initial monthly repayment of the loan, after excluding the monthly settlement interest, the loan principal is less; In the last month of loan repayment, the loan principal is more.

The difference in interest rates is mainly reflected in the following aspects:

One,

Under the repayment law of average capital, the monthly repayment amount is decreasing, and the borrower repays the principal fixed every month, but the repayment interest will decrease with the decrease of the principal; However, if the repayment method of equal principal and interest is adopted, the monthly repayment amount is fixed, but the proportion of principal and interest in the monthly repayment amount will change. With the monthly repayment, the proportion of interest will be less and less, and the proportion of principal will be more and more.

Second, the interests generated are different.

Under the two repayment methods of average capital and equal principal and interest, the interest generated is 500,000 yuan, and the loan term is 1 year. Under the repayment method of loan principal and interest, the total interest generated is 237 1.88 yuan, and under the repayment method of average capital, the total interest generated is 235 yuan.

Third, it is suitable for different groups of people.

The early repayment amount is high. With the monthly repayment, the interest will decrease month by month, so the repayment amount will decrease month by month. This repayment method is suitable for people who are relatively well-off at present. The monthly repayment amount of equal principal and interest is the same, which is suitable for one month.

Average capital and equal principal and interest are two common repayment methods of mortgage loans. Borrowers can choose one of them, and many borrowers have chosen this method. In fact, matching principal and interest and matching principal repayment have their own advantages and disadvantages, so how to analyze the international situation in detail.

If it is more cost-effective to repay the interest principal, after all, the repayment method with the same loan amount, loan term and loan interest rate will generate less total interest than the repayment method with the same principal and interest. However, the repayment pressure in average capital is relatively high in the early stage, so not every borrower is suitable to choose this repayment method. If the income level is relatively high, you can consider choosing the equal principal repayment, which can save yourself some money.

3. Is it cost-effective to repay the loan principal and interest of 15 in advance?

It is most cost-effective to repay the principal and interest of 15 in advance in the seventh month of the fifth year. 1. In general, the earlier the loan is repaid, the better. However, some banks have set a higher penalty for prepayment, and banks generally require prepayment for one year. Matching principal and interest is a repayment method of loans, which is actually a kind of compound interest. Compound interest means that the longer your loan is delayed, the more interest you will have, because later, the interest will be included in the principal to calculate the interest you have to pay this month, so it belongs to "compound interest". On the surface, the equal amount of principal and interest gives the same interest every month, but it is different in essence. Because it "the sum of principal and interest paid every month remains the same, but the proportion of principal and interest is different, and the proportion of base will become larger and larger." Two. Matching principal and interest repayment method 1. That is, the borrower repays the loan principal and interest in equal amount every month, in which the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month. 2. Because the monthly repayment amount is equal, in the initial monthly repayment of the loan, after excluding the monthly settlement interest, the loan principal is less; In the later stage of the loan, due to the continuous reduction of the loan principal, the loan interest is continuously reduced in the monthly repayment amount, and the monthly repayment of the loan principal is more. The difference between average capital and equal principal and interest is mainly reflected in the following aspects: First, under different repayment methods in average capital, the monthly repayment amount is decreasing, and the borrower's monthly repayment principal is fixed, but the repayment interest will decrease with the decrease of principal; For equal principal and interest repayment, the monthly repayment amount is fixed, but the proportion of principal and interest in the monthly repayment amount will change, and the proportion of interest in the early repayment amount is larger. With the monthly repayment, the proportion of interest will be less and less, and the proportion of principal will be more and more. Second, the interests generated are different. Under the two repayment methods of average capital and equal principal and interest, the total interest generated is different. For example, the loan is 500,000 yuan, the loan term is 1 year, and the loan interest rate is 4.35%. The total interest generated by the repayment method of equal principal and interest is 237 1.88 yuan, and the total interest generated by the repayment method of equal principal is 2356.25 yuan. Three, suitable for people with different repayment methods in average capital, the early repayment amount is higher. With the monthly repayment, the interest will decrease month by month, so the repayment amount will decrease month by month. This repayment method is suitable for people who are relatively well-off at present; Matching principal and interest with the same monthly repayment amount is suitable for people with a certain fixed income every month. Average capital and equal principal and interest are two common repayment methods of mortgage loans, and borrowers can choose one of them. Many borrowers don't know how to choose these two repayment methods. In fact, equal principal and interest and equal principal repayment have their own advantages and disadvantages. How to choose better depends on the actual situation of the borrower. From the interest point of view, it is naturally more cost-effective to choose equal principal repayment. After all, under the same loan amount, loan term and loan interest rate, the total interest generated by average capital repayment method is less than that generated by average capital repayment method. However, the repayment pressure in average capital is relatively high in the early stage, and not every borrower is suitable to choose this repayment method. If the income level is relatively high, you can consider choosing the equal principal repayment, which can save yourself some interest expenses.