Loan repayment

The borrower can repay the loan principal and interest in one of the following two ways:

1. Equal principal and interest repayment method, each period during the loan period The loan principal and interest are repaid equally every month with the same amount. The formula for calculating the monthly repayment amount is:

Monthly repayment amount of principal and interest = [monthly interest rate × (1+monthly interest rate) number of repayment months]/[(1+monthly interest rate) number of repayment months— 1]×Loan principal

2. Equal principal repayment method, the principal is repaid in equal installments every month, and the loan interest decreases monthly with the principal. The formula for calculating monthly repayment is:

Monthly repayment = loan principal/total number of loan periods + (principal - accumulated principal repaid) × monthly interest rate

About early repayment

The borrower can repay the entire remaining loan principal and interest in one lump sum in advance. The interest payable is calculated based on the actual number of days the remaining principal is occupied and the interest rate agreed in the loan contract.

If the borrower repays the principal and interest of the loan in advance, the borrower must notify the lending bank 10 days in advance to handle the repayment procedures after the lender agrees.

Repayment method

1. Entrusted deduction method, that is, the borrower entrusts the lending bank to collect payment from the borrower’s credit card, savings card or credit card opened by the lending bank on the monthly interest settlement date. The repayment will be deducted directly from the savings passbook account.

2. Counter repayment method, that is, the loan can be repaid directly to the business counter specified by the lending bank on any working day during the repayment period by cash, check, or credit card or savings card.