For many people, the purpose of obtaining loans is to alleviate economic difficulties, and they often hope to repay in advance after economic conditions improve to reduce their debts. As a credit consumption loan launched by Ping An Bank, Ping An Xinyi Loan also supports early repayment. So is it cost-effective to repay Ping An's new loan in advance?

Is it cost-effective to prepay Ping An's new loan?

The prepayment of Ping An Xinyi loan is mainly considered from two aspects. On the one hand, the prepayment of Ping An Xinyi Loan requires payment of liquidated damages, which is charged at 5% of prepayment, that is to say, every prepayment of 1 1,000 yuan requires payment of liquidated damages to 500 yuan. If the amount of prepayment is relatively large, the liquidated damages are not cost-effective; On the other hand, if the current users have better investment channels, which can make the income greater than the loan interest, it is not cost-effective to repay in advance. Of course, if there is no better project, prepayment can reduce debt.

Based on the above analysis, if Ping An Xinyi wants to prepay, it still needs to be considered according to the amount of prepayment. If the amount of prepayment is too large, the amount of liquidated damages is also relatively large.