During the loan period and within one year after the loan is issued, you can apply in writing to repay part or all of the loan in advance with the consent of the bank. General banks need 2-7 working days to handle this business. Banks have different regulations on early repayment of loans, so lenders must understand the operating procedures of loan banks before deciding to repay loans in advance.

2. The loan documents should be ready.

If the borrower wants to repay the loan in advance, he should generally go to the bank for examination and approval with his ID card and loan contract after applying by phone or in writing. If the borrower has settled all the balance, it is convenient for the borrower to deposit enough funds to repay the loan in advance after the bank calculates the remaining loan amount. If it is a customer or owner of the sub-mortgage business, it is best to find a professional guarantee institution to do entrusted notarization, so as to avoid the risk that the customer will not buy it after the owner repays in advance or the owner will raise the price after the customer pays the final payment with the down payment.

3. Calculation method of interest rate after interest rate reduction

The new interest standard will be calculated at the beginning of the new year, so even if the loan is to be repaid in advance, the lender should seize the opportunity and try to repay the loan in advance before the new interest takes effect at the end of the year. After paying off all loans in advance, the lender should remember to surrender to the insurance company and other departments.

Step 4 give up

After the lender settles all the final payment in advance, the bank will issue a settlement certificate. The borrower can call the relevant insurance company with the original loan settlement certificate, the original policy and the original invoice issued by the bank to make an appointment to surrender. When the borrower applies for a loan, the bank will register the mortgage. If the customer settles the loan, don't forget to cancel the mortgage. The borrower should bring the property right certificate, settlement certificate and other rights certificates mortgaged in the bank to the office of the District Construction Committee to understand the mortgage situation.

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What are the skills to repay the mortgage in advance?

1. First of all, before making an appointment for prepayment, you'd better check the provisions on prepayment time in the contract terms. After all, many banks require customers to repay their mortgages on schedule within a certain period of time before they can operate prepayment, otherwise they will charge a certain penalty.

In order to avoid paying extra fees, customers had better wait for a specified time before applying for prepayment. For example, many banks stipulate one year, so it is best for customers to repay in advance after one year.

By the end of repayment, the interest will be almost the same. At that time, it is not cost-effective for customers to repay in advance, and there is not much interest reduction. Therefore, it is best for customers to repay in advance in the middle and early stages of repayment.

4. After repaying part of the mortgage in advance, the customer can choose to reduce the monthly payment to reduce the monthly repayment burden; You can also choose to shorten the repayment period, so that you can settle the debt earlier. Of course, customers who have the ability can pay off the mortgage in advance at one time, and the interest will naturally only be calculated until the day when it is paid off.