1. Apply for early repayment after the repayment reaches a certain number of years. Some commercial banks can apply for early repayment one year after the lender repays, and there is no penalty interest.

2. The earlier the prepayment plan, the better. The longer the repayment period, the less cost-effective it is to repay in advance, so if you have the idea of repaying in advance, you should make plans early.

Be sure to consult the bank before prepayment.

Advance repayment steps of commercial loans

1. Query loan balance and original loan contract terms.

There are corresponding provisions on early repayment in the loan contract. When you are ready to pay back the money in advance, you'd better check the contract to see if you are in breach of contract by paying back the money in advance. If there is no default, you can prepare the corresponding repayment funds.

2. Consult in advance.

Prepare some materials for early repayment, and you can consult the credit department of the loan bank for details. Generally, I need to bring my ID card, loan contract, certificate of custody property, power of attorney for withholding repayment and other materials to the loan handling bank to make a new appointment, and generally I need to handle it.

3. Fill in the advance payment application form.

Fill in the prepayment application form in the bank credit department. Generally, banks will ask customers to fill out an application form for prepayment, and then get the approval letter of the application according to the scheduled time.

4. Repayment.

After receiving the application for approval, bring the relevant documents, deposit the balance in advance at the counter designated by the bank, and receive the repayment receipt.

5. Obtain his right certificate and the original purchase contract.

If the loan is fully paid off, the borrower needs to bring his real estate license and ID card, and get his property right certificate and the original purchase contract from the bank credit department on the agreed date. The bank will inform the borrower where the property is mortgaged.

6. Remove the mortgage.

The borrower shall fill in the cancellation registration form with the other warrants obtained from the bank and go through the mortgage cancellation procedures.