Need. The borrower must make an appointment with the bank first, and then go to the bank to submit a written application for early repayment within the agreed time; After that, the borrower can enter the prepayment operation after the bank approves and agrees to prepay, and deposit the money into the bound repayment bank card for bank deduction. Without making an appointment and applying first, the borrower cannot repay the loan in advance.

Extended data:

Loan means that banks, credit cooperatives and other institutions lend funds to units or individuals who use money, and generally agree on interest and repayment date. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of expanding social reproduction and promoting economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.

Early repayment means that the borrower applies to the bank to repay part of his loan in advance, and ensures that the previous month is not overdue and the loan of the current month is returned; Pay off all or part of the loan in one lump sum according to the date stipulated by the bank. Prepayment is generally divided into two ways: partial prepayment and full prepayment.

The borrower can only propose to repay part or all of the loan in advance for the first time after 6 months of normal repayment of the loan principal and interest; For serious loan management, lending institutions set a minimum amount for the prepayment of some loans, which generally needs more than 65,438+0,000 yuan; The general borrower needs to notify the lending institution to repay the loan in advance 10 day or 15 day in advance, and must submit a written application to the lending institution with the original loan contract, bank loan repayment savings card, monthly fund repayment interest slip, my ID card and other materials, and the lender must review and approve it.

After confirmation, the lending institution will recalculate the loan balance and the final repayment period after repaying part of the loan in advance according to the calculation principle of "interest first, principal later, equal monthly reduction and shortening the repayment period" in the interest repayment method determined in the original loan contract, and re-print the "Monthly Statement of Fund Repayment Interest" and re-sign the "Loan Modification Contract" with the borrower. The loan interest decreases as the principal decreases.

Repayment means that the borrower repays the principal and interest of the loan, and the interest is calculated according to the remaining principal of the borrower. Different repayment methods determine the speed of principal repayment, which leads to different total interest payments.