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What Should We Pay Attention To Early Repayment Of Loans?

2010/11/20 15:41:00 112

Loans And Interest Rates To Start Businesses

Refers to the borrower's own

loan

Part of the application for early repayment is made to the bank, and it is guaranteed that the loan has not been overdue in the previous month and the loan has been returned to that month.

The central bank has raised interest rates! But don't worry. Entrepreneurs will see you in the small package. They will repay the loan ahead of time. In fact, anyone who will repay the loan ahead of time will be able to do so.

Not all early loan repayment can save money.

If your loan repayment period is over half, and the principal amount in monthly repayment is greater than interest, then the significance of early repayment is not large.

Early repayment

It is worth noting that the early repayment of loans is

Penalty for breach of contract

And the regulations of each bank on the breach of contract are different.

Generally speaking, a certain percentage of liquidated damages should be collected in advance within the limit of banking years.

In particular, for those who had enjoyed the first suite of thirty percent off interest rate discounts, the two apartments improved borrowers had to look at the loan contracts signed with the banks at that time. Some individual banks did not allow borrowers to repay their loans in advance, and some banks needed to pay part of the advance payment default penalty.

Generally speaking, most banks only accept borrowers who repay the loan for more than one year to repay the loan ahead of time. Some banks refuse to apply for the advance repayment of the loan which is less than one year after the repayment.

This is not the best. The most important thing is that if you want to repay the loan ahead of time, you should make an appointment with the bank ahead of time, and make a written application for the repayment date.

For the amount of early repayment, the bank generally stipulates an integer multiple of 10000 yuan, and individual banks require more than 6 months' repayment amount.

The rest of the loan is partly due early.

A citizen

We should choose to shorten the loan period instead of reducing the monthly repayment amount.

Bank interest is mainly calculated according to the time cost of the loan occupied by the bank, so the choice of shortening the loan period can effectively reduce the interest expense.

If the loan period is shortened, it can be classified into the lower interest rate period. The effect of saving is even more obvious.