Is prepayment taboo? How to calculate the penalty for prepayment?

Because some people are very unfamiliar with the knowledge of loans, they may encounter some problems in the process. If you have a problem that you can't solve, don't do it until you know it. You need to read the details. prepayment is a big taboo. We also need to know how to calculate the penalty for prepayment.

Repayment before withdrawal is taboo.

Use ants to borrow money to repay in advance, and you don't have to pay interest later, and you don't have to worry about your reputation being affected. Why is the loan account cancelled? The official has not yet responded to this matter, but some media think so. Early repayment means less money earned by borrowing, followed by frequent early repayment, which will bring the possibility of cashing in the system. Perhaps because of this, the loan account will suddenly be blocked!

Therefore, people who often borrow money from ants usually pay it back according to the regulations. For example, you signed a six-month installment repayment contract with the borrower, and you have to repay the loan on time within six months. If you don't want to have such a long repayment time, then choose a installment with a shorter repayment period.

How to calculate the penalty for prepayment?

Now the longest mortgage is 30 years, but the real cycle is not that long. Property buyers will choose to repay the loan in advance when the economic conditions permit, because they think it is not cost-effective to repay the bank interest, and at this time, the bank will charge you liquidated damages for repaying the loan in advance. Because the first year of the loan is the highest interest rate, the bank will try to prevent the borrower from repaying in advance during this period, so it will charge as much interest as possible. If you want to repay in advance, the bank will earn it back in another way, and this money is: liquidated damages.

1. Under what circumstances will there be liquidated damages?

In order to limit prepayment, some lending institutions put forward a concept: "large prepayment", and various lending institutions have different standards for this concept. Most of them mean that within 12 months, the borrower's prepayment amount exceeds 20% of the loan principal balance, which is regarded as substantial prepayment. Under this concept, some banks require borrowers to repay in advance to pay liquidated damages.

Second, how to collect the liquidated damages?

The liquidated damages arising from early repayment shall be stipulated in the contract signed by the borrower and the borrower. Once the borrower pays off all the loans or most of the principal in advance within the specified time, the borrower will pay liquidated damages, which are generally collected in two forms:

1. The liquidated damages are interest for several months.

Taking China Bank as an example, its provisions are as follows:

/kloc-If repayment is made in advance within 0/year, the bank will charge three months' interest as penalty;

/kloc-If repayment is made in advance within 0/-2 years, the bank will charge two months' interest as penalty;

For prepayment within 2-3 years, the bank will charge one month's interest as penalty;

After 3 years, the mortgage contract shall prevail.

2. Calculated according to the percentage of prepayment amount (generally 1%-3%).

Taking China Construction Bank as an example, its provisions are as follows:

/kloc-for prepayment within 0/year, the bank will charge a penalty of 3% of the prepayment amount;

/kloc-prepayment within 0/-2 years, and the bank will charge 2% of the prepayment amount as penalty;

For prepayment within 2-3 years, the bank will charge a penalty of 1% of the prepayment amount;

The above article mainly tells you that prepayment is a detailed taboo introduction. Although there are many loan platforms now, some platforms may suffer if repayment is to be made in advance. Can you get a detailed understanding in advance? If you can repay in advance, do it again, and also talk about how to calculate the liquidated damages for prepayment.

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