Does Hubei Bank have a penalty for repaying the mortgage in advance?

Hubei Bank has liquidated damages for repaying the mortgage in advance.

If the prepayment is less than one year, 5% of the prepayment amount will be charged; if the prepayment is made one year later, no penalty will be charged.

Banks are legally established financial institutions engaged in monetary and credit business, and are the product of the development of commodity monetary economy to a certain stage.

Banks are one of the financial institutions. Banks are divided into central banks, policy banks, commercial banks, franchisees, investment banks and the World Bank, with different responsibilities.

The central bank, China People's Bank, is the central bank of China.