Early repayment refers to the behavior of the borrower to repay the loan before the repayment period. In some cases, prepayment is beneficial to the borrower and unfavorable to the lender, so whether prepayment is allowed and the conditions for prepayment should be clearly stipulated. Prepayment includes full prepayment, partial prepayment with unchanged loan term and partial prepayment with shortened loan term. The loan bank can only accept the application for prepayment of personal loans from the second repayment month. Although prepayment can save interest expenses, there are four types of buyers who are not suitable for prepayment.
Repayment in advance with the loan term unchanged: the loan bank instructs the borrower to fill in the relevant agreement. If the original loan guarantee method is mortgage+insurance and mortgage registration has not been done, you need to go to the insurance company designated by the city center with the original insurance policy, your ID card and relevant agreements to go through the formalities of reducing the insured amount, and the final agreement should be sent to the corresponding sub-center by the loan bank in time.
Some borrowers who repay loans in advance can choose two ways: one is to reduce the monthly repayment amount and keep the repayment period unchanged; The other is to shorten the repayment period and keep the monthly repayment amount unchanged. If the income of the lender keeps increasing, you can choose the repayment method of shortening the loan term and realize the desire of being debt-free as soon as possible. If the income does not increase too much, you can reduce the repayment amount and keep the repayment period unchanged, which will reduce the repayment pressure.
How to calculate the prepayment of bank loans? The interest on prepayment of bank loans is based on different regulations of each bank.
Banks are allowed to repay loans in advance at different times. Most banks can apply for early repayment after one year of repayment, and some banks can repay loans in advance at any time. Pay attention to the repayment time of the loan bank when repaying the loan in advance;
The loan life of general mortgage is more than 10 years, during which it is inevitable for banks to adjust interest rates. If they are in the interest rate cut channel, it is obvious that the faster they adjust, the more cost-effective.
No matter whether the loan is repaid in advance or according to the contract, the mortgage registration must be cancelled after the loan is paid off.
Under the following circumstances, prepayment is not recommended:
Enjoy a discount of 30% to 8.5% interest rate when signing the contract. If you are currently in the interest rate reduction channel, the interest will be lower than the previous period if you implement it in time according to the latest interest rate;
For buyers whose repayment period of equal principal has exceeded 1/3, the repayment method in average capital will leave less principal and generate less interest. When the repayment period exceeds 1/3, the borrower pays nearly half of the interest, and most of the later repayment is the principal;
In the middle period of equal principal and interest repayment, the principal in the monthly repayment amount increases month by month, and the interest ratio decreases month by month, so it is of little significance to repay in advance.
Is it cost-effective to repay the loan in advance by bank loan? In any case, it is generally cost-effective to repay the loan in advance.
According to the different repayment methods, the borrower can choose to reduce the term or amount. It is understood that at present, most banks can provide five ways to repay loans in advance for customers to choose from.
First, pay off all the loans in advance, that is, pay off all the remaining loans at one time. (There is no need to repay the interest, but it will not be refunded if it is paid)
Second, a part of the loan will be repaid in advance, and the monthly repayment amount of the remaining loan will remain unchanged, thus shortening the repayment cycle. (save more interest)
Third, repay some loans in advance, reduce the monthly repayment amount of the remaining loans, and keep the repayment period unchanged. (Reduce the monthly payment burden, but less than the second type)
Fourth, repay some loans in advance, reduce the monthly repayment amount of the remaining loans and shorten the repayment cycle. (save more interest)
Fifth, the remaining loans keep the total principal unchanged and only shorten the repayment period. (The monthly payment will increase and the interest will decrease, but it is relatively uneconomical.)
It is suggested to reduce the principal as much as possible, shorten the loan period and pay less interest when repaying in advance.
Enterprises repay part of the principal of bank loans in advance in different banks, and some directly repay the principal, such as CCB and ABC; Some principal and interest are paid back as soon as possible, such as credit cooperatives and commercial banks.
Local and local are not necessarily the same. If you consult the local CCB, you'd better save more. If it is deducted, it will be deducted, and if it is not deducted, it will be credited.
Whether it is economical to repay the loan in advance by bank loans, if the interest is calculated according to the balance after repayment, you can consider checking the original post >; & gt
Excuse me: I chose the method of "equal principal and interest" for housing loans. Now, if I repay the loan in advance (in part), I will pay back the principal part or the principal and interest equal to the principal, that is, the principal and interest you pay back to the bank every month are fixed. You paid back 50 thousand in advance, and you have to pay back 50 thousand's use interest When you pay it back, let the bank calculate the interest of this 50 thousand. In fact, your principal is less than 50 thousand, that is, more than 40 thousand plus 50 thousand interest
Bank loan experts, how to calculate early repayment? Provident fund loan? I didn't know it before, but later I saw a calculator, which is very easy to use and even has details, so I can work out how much I have to pay back in a month. Why don't you go and have a look?
You can download a loan calculator and calculate it according to your specific situation. The download address is BBS. Loan. /thread-177 1- 1. You can compare and calculate the matching repayment method and the matching principal and interest repayment method, and you can also calculate the specific monthly repayment amount.
Postal savings bank loans to repay part of the loan in advance. Will the mortgage be deducted in the previous month? When repaying the loan in advance, you can reduce the repayment period and amount, and you can also reduce the repayment period and amount.
The loan is 580,000 yuan in 23 years. If the loan is repaid in advance, you can calculate the interest difference between the average capital method and the equal principal and interest method online. Your amount should be very different from the loan time and interest, which is estimated to be tens of thousands, so whether you consider repaying the loan in advance or not, you should choose the average capital method to repay the loan.