If you want to repay the loan in advance, you must apply to the bank in advance. Under normal circumstances, it needs to be performed in strict accordance with the terms. Both parties agree on the amount, date and compensation for breach of contract in advance through consultation, and can only repay the loan in advance with the consent of the bank.
However, banks generally agree that repayment cannot be made in advance within one year, while foreign banks have stricter restrictions, usually two to three years. If you want to apply for prepayment during this period, you usually need to pay liquidated damages, which are mostly about 2%~5% of the prepayment amount.
The provisions for prepayment of provident fund are similar to those for commercial loans. Generally speaking, repayment cannot be made in advance within one year. But most banks can't repay their loans in advance within one year:
China Merchants Bank: If the prepayment is less than one year, the interest will be charged for at least three months; if the prepayment is over one year, the interest will be charged for at least one month.
Construction Bank: If the prepayment is less than one year, the fee will be charged at 3% of the prepayment amount. If the loan is repaid in advance for one to two years, 2% of the prepayment amount will be charged. The loan is repaid in advance for two to three years, and 1% of the prepayment amount is charged. Repaying the loan in advance needs at least 1 10,000 yuan, basically once a year.
Agricultural Bank: If the prepayment is less than one year, it will be charged by multiplying the principal by the monthly interest rate, which is the loan interest rate divided by 12 months minus the repayment months. If the loan is repaid in advance after one year, as long as there is no record of prepayment before, no penalty will be charged. If the repayment has been made in advance, the applicant will not be fined when applying again one year later.
ICBC: If the prepayment is less than one year, a penalty of 5% of the prepayment amount will be charged. If the loan is repaid in advance after one year, no penalty will be charged. Repay the loan in advance at most once a year.
Bank of China: If the prepayment is less than one year, the maximum penalty will be six months (calculated according to the loan interest rate on the prepayment date). If the loan is repaid in advance after one year, no penalty will be charged.
Bank of Communications: It is stipulated that the partial prepayment shall not be less than 6 times of the monthly repayment amount, but not more than 35% of the monthly repayment amount. Partial prepayment can be repaid free of charge once a year. All prepayments need to pay liquidated damages and charge 65438+ 0% of the current repayment amount. However, the specific repayment amount needs to be implemented in accordance with the contract.
Guangfa Bank: If the prepayment is less than one year, two months' interest will be added as penalty. Repay the loan in advance after one year without any penalty.
Everbright Bank: If the prepayment is less than one year, 3%~6% interest will be charged as liquidated damages, which will be implemented according to the contract. Repay the loan in advance after one year without any penalty.
Shanghai Pudong Development Bank: If the prepayment is less than one year, different interest rates of 1.5% or 3% will be charged, and some will be charged according to the contract. Repay the loan in advance after one year without any penalty.
2. Can CCB pay off the mortgage before one year?
If the loan contract allows early repayment, it is ok. If the loan is repaid in advance for less than one year, 3% of the prepayment amount will be charged.
The procedures for prepayment of mortgage loans are as follows:
First, we must first look at the provisions on prepayment in the loan contract. When reading the contract, we should pay attention to whether it is necessary to pay a certain penalty for repaying the loan in advance.
Second, call the loan bank to find out the location and telephone number of the prepayment department and the conditions required for prepayment.
Third, call according to the telephone number of the consultation or go to the relevant department in person to apply for early repayment.
Fourth, the borrower personally goes to the borrowing bank with relevant documents and fills in the application form for prepayment.
Fifth, submit the prepayment application form and deposit the prepayment amount in the counter.
Please pay attention to the following four points when handling mortgage repayment procedures:
First, we should pay attention to the requirement of prepayment in the house purchase loan contract.
Second, you need to consult the loan bank in advance about the application time and minimum repayment amount of the loan and other materials that need to be prepared.
Third, according to the requirements of the bank, it is necessary to personally apply to the relevant departments for early repayment. Under normal circumstances, banks will ask customers to fill out an application form for prepayment.
Fourth, in the process of repaying the mortgage in advance, customers should pay special attention to bring their ID cards and loan cards. It is generally necessary for me to repay the loan in advance, which should be paid special attention to.
3. How to calculate the prepayment of loans for less than one year?
To repay the loan in advance, you need to apply to the bank in advance. Under normal circumstances, it needs to be performed in strict accordance with the terms. Both parties agree on the amount, date and compensation for breach of contract in advance through consultation, and can only repay the loan in advance with the consent of the bank.
However, banks generally agree that repayment cannot be made in advance within one year, while foreign banks have stricter restrictions, usually two to three years. If you want to apply for prepayment during this period, you usually need to pay liquidated damages, which are mostly about 2%~5% of the prepayment amount.
The provisions for prepayment of provident fund are similar to those for commercial loans. Generally speaking, repayment cannot be made in advance within one year. But most banks can't repay their loans in advance within one year:
China Merchants Bank: If the prepayment is less than one year, the interest will be charged for at least three months; if the prepayment is over one year, the interest will be charged for at least one month.
Construction Bank: If the prepayment is less than one year, the fee will be charged at 3% of the prepayment amount. If the loan is repaid in advance for one to two years, 2% of the prepayment amount will be charged. The loan is repaid in advance for two to three years, and 1% of the prepayment amount is charged. Repaying the loan in advance needs at least 1 10,000 yuan, basically once a year.
Agricultural Bank: If the prepayment is less than one year, it will be charged by multiplying the principal by the monthly interest rate, which is the loan interest rate divided by 12 months minus the repayment months. If the loan is repaid in advance after one year, as long as there is no record of prepayment before, no penalty will be charged. If the repayment has been made in advance, the applicant will not be fined when applying again one year later.
ICBC: If the prepayment is less than one year, a penalty of 5% of the prepayment amount will be charged. If the loan is repaid in advance after one year, no penalty will be charged. Repay the loan in advance at most once a year.
Bank of China: If the loan is repaid in advance for less than one year, a penalty interest of no more than six months will be charged (calculated according to the loan interest rate on the prepayment date). If the loan is repaid in advance after one year, no penalty will be charged.
Bank of Communications: It is stipulated that the partial prepayment shall not be less than 6 times of the monthly repayment amount, but not more than 35% of the monthly repayment amount. Partial prepayment can be repaid free of charge once a year. All prepayments need to pay liquidated damages and charge 65438+ 0% of the current repayment amount. However, the specific repayment amount needs to be implemented in accordance with the contract.
Guangfa Bank: If the prepayment is less than one year, two months' interest will be added as liquidated damages. Repay the loan in advance after one year without any penalty.
Everbright Bank: If the prepayment is less than one year, 3%~6% interest will be charged as liquidated damages, which will be implemented according to the contract. Repay the loan in advance after one year without any penalty.
Shanghai Pudong Development Bank: If the prepayment is less than one year, different interest rates of 1.5% or 3% will be charged, and some will be charged according to the contract. Repay the loan in advance after one year without any penalty.
4. Provisions of the Postal Savings Bank on prepayment of loans in 2020?
The provisions of the Postal Savings Bank on liquidated damages for early repayment of loans are as follows:
1. If the repayment of the loan principal and interest on time is less than 12 months from the actual lending date, the lender shall be paid a penalty of 1% of the repayment of the loan principal in advance; If the principal and interest of the loan are repaid continuously and on time for more than 12 months (inclusive) from the actual lending date, there is no need to pay liquidated damages.
2. If part of the loan is repaid in advance, the minimum repayment application amount is 65,438 yuan+0,000 yuan, and it should be an integer multiple of 65,438 yuan+0,000 yuan.
The process of prepayment is as follows: first, check the requirements of prepayment in the loan contract and pay attention to whether there is a certain penalty for prepayment; Call the loan bank in advance to inquire about the application time and minimum repayment amount of the loan and other materials that need to be prepared; According to the requirements of the bank, personally apply to the relevant departments for early repayment; The borrower carries the relevant documents to the borrowing bank to go through the formalities related to prepayment; Submit the advance payment application form and deposit the advance payment in the counter.
There is no limit to the number of times banks can repay their mortgages in advance. They can pay off all or part of the loans. It's just that the starting amount of each loan repayment of each bank is different. Some regulations are 65,438+0,000 yuan or multiples of 65,438+0,000 yuan. Some banks stipulate that if it exceeds 1000 yuan, you can repay part of the loan in advance. Please consult the bank in detail before repaying the loan in advance.
It is worth mentioning that the Application Form for Early Repayment is irrevocable once confirmed by the borrower's bank. As a supplementary clause of the loan contract, it has the same legal effect as the loan contract. If the loan purchaser fails to repay the loan in advance according to the date and amount specified in the application for prepayment sent to the borrower's bank for whatever reason, it will be regarded as overdue repayment, and the loan purchaser will bear corresponding liabilities for breach of contract according to the loan contract.
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