You can repay in advance. According to bank regulations, you must apply to the Industrial and Commercial Bank of China for approval one month in advance. You can repay after approval; there will be a penalty of 3 months of interest for less than three years, and no penalty for more than three years. interest.

According to bank regulations, customers who want to repay their loans early must submit a written application one week to one month in advance and agree on a repayment date. Then according to the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill out the loan repayment application form and early loan repayment agreement, and according to the bank's requirements, deposit the required loan repayment into the account where you withhold the loan principal and interest. , it will be automatically deducted by the bank. If the period is less than three years, there will be a penalty of 3 months' interest, and if it is more than three years, there will be no penalty interest.

Extended content:

1. After the borrower repays the entire loan in advance, the original personal housing loan and house insurance contract will also be terminated early. According to relevant regulations, borrowers can bring the original insurance policy and proof of early repayment of the loan to the insurance company to refund the premium paid in advance on a monthly basis. The refund of insurance premiums for early repayment of the loan must be based on whether the originally purchased house is an existing house or an off-plan house, the actual period of the insurance premium for the off-plan house (the insurance period for off-plan houses of more than half a year is generally calculated by subtracting 1 year from the loan period), and the original one-time premium payment Factors such as the discount interest rate and quick calculation coefficient, the calculation formula is: the insurance premium for early repayment of the loan = the present value of the paid insurance premium at the time of early repayment - the present value of the occupied insurance premium before early repayment at the time of early repayment.

2. Prepayment is the amount paid by the borrower in excess of the monthly principal and interest payment. A prepayment that does not fully repay the mortgage is called a partial prepayment. Through contractual arrangements, early repayment is prohibited within the agreed period, which is called the lock-in period. The lock-in period ranges from 2 to 10 years. After the lock-in period, prepayment protection often takes other forms, such as prepayment penalty points or yield maintenance fees.

?ICBC repays loan early