The time for prepayment is basically from the second month to the third month after signing the loan contract, but the specific date is subject to the loan contract. In addition, the date of prepayment depends on the date agreed in the loan contract. Generally, an application for prepayment is submitted to the loan bank within the date agreed in the contract. As for the time for banks to repay loans in advance, most banks will have different regulations. For example, ICBC needs to apply to the bank 15 working days in advance to repay the loan in advance, some banks need to apply 15 working days in advance, and some banks require that they can repay the loan in advance after more than one year.

How many times can I prepay?

From the date of loan, repayment can be made in advance one year later and once a year. There is no limit to the amount, but there is only one repayment opportunity a year. It is recommended to pay more or one-off

Which prepayment method of mortgage loan saves the most interest?

At present, there are five ways of prepayment provided by banks: one-time repayment; The monthly payment is unchanged, shortening the repayment cycle; Reduce the monthly payment and keep the repayment period unchanged; Reduce the monthly payment and shorten the repayment period, increase the monthly payment and shorten the repayment period. Which of these five ways saves the most interest? If the borrower chooses to repay the loan in advance in one lump sum, the total interest paid is equal to the interest before repaying the loan in advance.

If the borrower's total loan amount is 300,000 yuan and the loan term is 20 years, the repayment method of equal principal and interest will be adopted, and the repayment will be made in advance after half a year. The remaining loan balance is 297,400.2 yuan, and the interest paid is * * * 8,666.46 yuan. When he paid off the loan, the total interest actually paid was 8666.46 yuan.

Most borrowers choose to prepay in part. If you want to save interest, the borrower should choose to shorten the term. There are two ways to shorten the term of office. The borrower chooses to keep the repayment period unchanged, and the interest expense is the most. But in this way, the borrower's burden is the lightest, the monthly payment is reduced to 1386.28 yuan, and the monthly expenditure is almost less than 1000 yuan. Shorten the repayment period, basically keep the monthly repayment amount unchanged, save interest 13655 1.53 yuan, and finally advance the repayment by 9 years.

If you have borrowed for more than three years and still have some spare money, you can consider investing in the stock market or buying more funds. If there is spare money within three years but there are still a lot of loans outstanding, consumers with heavy interest burden may wish to be conservative and choose to repay the loan in advance. Generally speaking, as long as there are other ways to earn more than 6% a year, we should consider repaying the loan as little as possible in advance. Judging from the current investment market, the income of real estate, stocks, funds, etc. should exceed the income brought by early repayment, but these have certain risks. Therefore, it is suggested that whether consumers repay in advance depends on their actual situation.

legal ground

People's Republic of China (PRC) Civil Code

Article 530 Creditors may refuse the debtor's early performance of the debt, unless the early performance does not harm the creditors' interests. The expenses incurred by the creditor due to the debtor's early performance of the debt shall be borne by the debtor.

Article 531 The obligee may refuse the obligor's partial performance, except that the partial performance does not harm the obligee's interests. The expenses incurred by the creditor due to the debtor's partial performance of the debt shall be borne by the debtor.

Article 532 After the contract comes into effect, the parties may not fail to perform their contractual obligations because of the change of name or legal representative, responsible person or contractor.

Article 533 Significant changes have taken place in the basic conditions of a contract after the conclusion of the contract, which could not have been foreseen by the parties when the contract was concluded, and are not commercial risks. If it is obviously unfair to one party to continue to perform the contract, the adversely affected party may renegotiate with the other party; If negotiation fails within a reasonable time, the parties may request the people's court or arbitration institution to modify or terminate the contract. The people's court or arbitration institution shall, according to the actual situation of the case, modify or terminate the contract in accordance with the principle of fairness.