Business loans can be repaid early. Lenders who want to repay their loans in advance only need to submit a written application one week to one month in advance and agree on a repayment date. Then on the agreed repayment date, the lender will bring their ID card and signed loan contract to the bank to fill out the loan repayment application form and advance repayment date. Loan repayment agreement, and deposit the loan repayment into the designated passbook, and then the bank will automatically deduct it.

Who is not suitable for early repayment

1. People who use emergency funds to repay: If your current funds are tight and your financial ability is relatively limited, it is not suitable for Luanyuan. Some financial plans require early repayment. At the same time, using emergency funds will increase the risks of future life, and may lead to "losing a small amount of money".

2. Enjoy a relatively large discount when taking a loan: When taking a loan, many friends will choose provident fund loans. I believe everyone is familiar with the situation of provident fund loans. We all know that the interest rate of provident fund loans is lower than that of commercial loans, or Some friends who choose commercial loans add discounts and the execution interest rate is relatively low. For this kind of interest rate discount that already enjoys a lower discount, it is more cost-effective to use the idle funds in your hand to do some other financial management.

3. People who have entered the middle stage of repayment with equal amounts of principal and interest: During the loan repayment period, most friends’ monthly payments are to repay the principal first, so the significance of early repayment is not very great. If The home buyer does not have sufficient funds and is not in a hurry to repay the loan in advance. Especially in the later stage of repayment, there is no need to use concentrated funds to repay. This not only disrupts financial management plans, but also goes against the effective use of funds.

4. Those who have reached 1/4 of the equal principal repayment period: If the home buyer repays a larger amount in the early stage, as the principal continues to decrease, the monthly payment will also decrease. This makes later repayments easier. If you make early repayment at this time, the repaid part will actually be more of the principal, which will not be conducive to effective interest savings.