First, we need to determine which bank and branch our lending bank belongs to. Because each bank can repay in advance at a different time, we need to consult the customer service of the bank that lends in advance, otherwise there may be liquidated damages (at present, most banks can repay one year in advance, but there are also three or six months).

After confirming that there is no liquidated damages, we need to confirm the repayment time with the bank. Some banks are divided into the first half or the second half, and customers need to call in advance to make an appointment. Of course, there are also banks that can repay on the same day.

After verifying the repayment time, bring the repayment bank card (enter the repayment in advance), ID card and real estate license on the repayment day, and it will be completed on the same day.

The money has not been paid off yet. After a week, the bank will issue some materials of his property certificate and mortgage settlement seal. We also need to go to the bank to get these things. After getting it, you need to take the real estate license and ID card to the real estate bureau to cancel the mortgage seal.

Prepayment is generally divided into two ways: partial prepayment and full prepayment.

According to the different repayment methods, the borrower can choose to reduce the term or amount. It is understood that at present, most banks can provide five ways to repay loans in advance for customers to choose from.

First, all loans are repaid in advance, that is, customers pay off all remaining loans at one time. (There is no need to repay the interest, but it will not be refunded if it is paid)

Second, a part of the loan will be repaid in advance, and the monthly repayment amount of the remaining loan will remain unchanged, thus shortening the repayment cycle. (save more interest)

Third, repay some loans in advance, reduce the monthly repayment amount of the remaining loans, and keep the repayment period unchanged. (Reduce the monthly payment burden, but less than the second type)

Fourth, repay some loans in advance, reduce the monthly repayment amount of the remaining loans and shorten the repayment cycle. (save more interest)

Fifth, the remaining loans keep the total principal unchanged and only shorten the repayment period. (The monthly payment will increase and the interest will decrease, but it is relatively uneconomical.)

Financial experts suggest that when repaying in advance, the principal should be reduced as much as possible, the loan term should be shortened and the interest should be paid less.