According to Article 9 of the Interim Measures for Personal Loans, the lender shall establish a reasonable control mechanism for the ratio of the borrower's income to debt repayment, reasonably determine the loan amount and term in combination with the borrower's income, liabilities, expenses, loan purposes, guarantees and other factors, and control the borrower's repayment amount in each period not to exceed his repayment ability.
The specific explanation is as follows.
(1) Equal principal and interest repayment method: equal repayment every month, the sum of loan principal and interest. Most banks have adopted this method for housing provident fund loans and commercial personal housing loans. As a repayment, he pays a fixed amount to the bank every month, but the proportion of principal in the monthly repayment increases month by month, and the proportion of interest decreases month by month. For families with stable income and economic conditions that do not allow excessive investment in the early stage, this method can be chosen.
(2) average capital repayment method: that is, the borrower distributes the loan amount to each period (month) evenly throughout the repayment period and pays off the loan interest from the previous trading day to the repayment date. In this way, the monthly repayment amount decreases month by month, and the borrower can gradually reduce the burden with the increase of repayment period. Under the same conditions, the total interest paid by this repayment method is less than the equal principal and interest, and the repayment burden will be gradually reduced with the passage of time. However, because the interest is decreasing, the monthly payment in previous years will be higher than the equal principal and interest, which is very stressful, so this repayment method is more suitable for people with high income and low repayment pressure. (3) Paying interest and principal on a monthly basis: that is, the borrower repays the loan principal in one lump sum on the loan maturity date (applicable to loans with a term of less than one year (including one year)), and the loan bears interest on a daily basis and the interest is repaid on a monthly basis; For small enterprises or individual operators, it can reduce the repayment pressure.
(4) Repay part of the loan in advance: that is, the borrower can repay part of the loan amount in advance when applying to the bank, which is generally an integer multiple of 65,438+0,000 or 65,438+0,000. After repayment, the lending bank will issue a new repayment plan, and the repayment amount and repayment period will change, but the repayment method will remain unchanged, and the new repayment period shall not exceed the original loan period.
(5) prepayment of all loans: that is, the borrower can repay all the loan amount in advance when applying to the bank, and the loan bank will terminate the borrower's loan at this time after repayment and handle the corresponding cancellation procedures.
(6) Pay back as you borrow: interest is calculated on a daily basis after borrowing, and interest is calculated on a daily basis. You can pay the money in one lump sum at any time without any penalty.