You pay back 200,000 yuan in advance, and all you pay back in advance is the principal. Your principal is directly reduced by 200,000 yuan. In this case, if you choose to keep the monthly payment unchanged and shorten the service life, you can reduce the repayment time by 6 years.

At present, the benchmark "annual interest rate" of individual (RMB) loans for more than five years announced by the People's Bank of China is 4.9% (the specific loan interest rate you can apply for will be reviewed and confirmed by the handling bank). According to the benchmark interest rate, the total interest of the "equal principal and interest repayment method" is 627,732.29 yuan, and the monthly repayment amount is 765,438 yuan +098.88 yuan. If you need a trial calculation, you can go to the home page of China Merchants Bank and click "Financial Calculator" and "Personal Loan Calculator" on the right to make a trial calculation.

For example, "prepayment" will recalculate the monthly payment according to your remaining principal, loan interest rate and repayment method. At present, it is generally adopted to "keep the monthly payment unchanged and shorten the loan period". It is recommended that you confirm the details through the handling bank.