Real-time financial prepayment service: customers can apply to our company for prepayment of all outstanding loan funds under the loan contract before the final repayment due date, and our company will charge customers prepayment fees without overdue. The specific charging standard is subject to the loan contract agreed by the customer.
Extended data:
Installment payment can be divided into compound interest and simple interest:
Compound interest: the current interest is included in the next principal, which is based on the sum of the principal and interest of the previous period.
Simple interest: the interest is calculated according to the initial principal of each period, and the interest of each period is not included in the next principal.
Simple interest repayment method is divided into average principal repayment method and equal principal and interest repayment method.
1, Average Capital Repayment Method (abbreviated as equal diminishing method): Also known as diminishing method, since the principal of the loan repaid by the buyers every month is the same, the interest of the next loan will be reduced due to the reduction of the principal, so the principal and interest of the loan repaid in each period will also be gradually reduced. In this way, the monthly principal remains unchanged, and the repayment amount is the highest in the first month, and then decreases month by month.
2. Equal principal and interest repayment method (hereinafter referred to as this method): the total monthly principal and interest is fixed, and the loan principal and interest are evenly divided into several equal parts according to the loan term, and the total monthly principal and interest are the same. This way is convenient for buyers to plan funds.
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