After the provident fund loan is paid off 1 year or more (6 months in some places), you can apply for early repayment. In addition, there is also an agreement in the loan contract.

Early repayment can be partial or full in advance. Bring: loan contract, the last bank repayment receipt, my ID card and loan application.

After partial repayment in advance, the principal balance decreases, and the bank needs to recalculate the monthly repayment amount or repayment period. If the repayment period remains unchanged, the monthly repayment amount will be reduced after recalculation.

When prepaying, the bank will charge a certain amount of compensation (liquidated damages), which is generally one month's interest on the prepayment amount.

The specific repayment process and precautions are as follows:

1. The borrower needs to fill in the Application for Advance Repayment of Provident Fund Loans at the undertaking bank, and go through the relevant repayment procedures at the loan center under the Provident Fund Management Center with his ID card and photocopy, and the original loan contract, but the borrower must go to the counter in person.

2. If the application is approved, the bank will settle the principal. Within 1 year after the application is approved, the minimum repayment amount is 10000 yuan, and the prepayment amount of some loans must be an integer multiple of 1000 yuan.

3. At the same time, we need to pay attention to two points: First, the prepayment of provident fund loans must be carried out under normal repayment conditions. If the borrower has overdue loans, it needs to repay the overdue loans before applying for related business. Second, you can't handle related business at the counter for three working days before and after the deduction date.