Whether you need to repay the principal and interest in advance depends mainly on the terms of the loan contract signed between you and the bank. Generally speaking, there are the following situations:

1. If it is stipulated in the contract that there will be no extra expenses for prepayment, then the remaining interest is usually not required for prepayment.

2. If there is a penalty clause for early repayment in the contract, it may be necessary to pay a certain penalty, but the amount of penalty is usually lower than the residual interest.

3. Some banks may require to pay the interest on the remaining term as a condition of early repayment.

Whether it is cost-effective to prepay depends on the specific loan interest rate, the remaining repayment period and your financial situation. If you have sufficient funds on hand and no better investment channels, prepayment can reduce future interest expenses.

Extended data:

The decision of prepayment needs to consider many factors, including but not limited to the specific terms of the loan contract, the bank's fine policy, personal fund arrangement and so on. Before making a decision, it is recommended to read the loan contract carefully and consult the bank or professional financial advisor if necessary.