How can China Bank and Mobile Banking repay the loan in advance?

How to calculate the penalty for prepayment of bank mortgage in China?

According to the regulations, if you apply for a loan in China Bank and choose to repay the loan in advance within one year, you need to charge a penalty of no more than six months' interest. If the repayment exceeds 1 year, no penalty will be charged. However, if the lender applies for a long-term loan, such as a mortgage, it is generally necessary to charge about 2% of the outstanding loan balance to repay the loan in advance.

In addition, if the mortgage is repaid in advance, after all the loans are repaid in advance, BOC users need to bring the original policy and proof of prepayment to the insurance company to refund the premium paid before. You also need to go to the tax department to go through the tax refund procedures and go to the relevant institutions to get the real estate license.

Extended data:

Advance payment process of China Bank:

If the lender wants to prepay, it needs to call the bank 15 five working days in advance to make an appointment for prepayment, and inform the customer service of his name, ID number and other relevant personal information. At the appointed time, the lender needs to carry his ID card, purchase contract and other materials and go to the bank to handle the loan repayment procedures in advance.

After the early repayment procedures are clear, the bank will show the relevant settlement certificate, and then the lender will take the settlement certificate and other property certificates to the Housing Authority to get the house book. If it is the first home loan, you need to go to the insurance company to surrender.

Repayment of equal principal and interest in advance:

Matching principal and interest means that the monthly repayment amount is fixed (including interest and principal), but the proportion of principal in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month. The main feature is that the monthly repayment amount is fixed during the loan year. Suitable for ordinary families with stable income of working class, the mortgage can not only bear, but also ensure that it will not affect life.

Suppose the buyer applies for a mortgage of 200,000 yuan in the bank, the loan time is 10 year, and the loan interest rate is 1.9%. Using equal principal and interest repayment, the monthly repayment amount is calculated to be about 2 1 1 1 yuan.

According to the repayment method of equal principal and interest, the first repayment interest of the buyer is 800 yuan, and the repayment principal is1311; The repayment interest in the second month is 795, and the repayment principal is 13 16. The repayment interest in the third month is 789, and the repayment principal is 1322? By analogy, it can be concluded that in the case of the same repayment amount, the principal that buyers need to repay later will only be less and less.

Therefore, if the buyer chooses to repay the principal and interest in equal amount, the buyer has paid off most of the interest by the middle of the repayment period. At this time, it is not cost-effective to choose equal principal and interest repayment.

As long as it is before 1/2, it is more cost-effective to repay the principal and interest in advance. However, buyers need to pay attention to the fact that some banks will charge liquidated damages for prepayment, so you must consult the relevant information of the bank before prepayment.

How to calculate the penalty for prepayment of bank mortgage in China?

Calculation of liquidated damages for prepayment of bank mortgage in China;

1. If the prepayment of the loan in the Bank of China is less than one year, the interest of the loan for up to six months will be charged as the liquidated damages;

2. If the loan in the Bank of China is repaid in advance for one year, no penalty will be charged. The specific collection of liquidated damages shall be subject to the regulations of the local China Bank. For details, please contact the official customer service of China Bank at 95566.

Extended data:

1. Personal commercial housing loan application materials:

(a) loan application;

(2) A legally valid identity document;

(3) Proof of economic income recognized by the lender;

(4) Proof that the down payment of the purchased commercial house has been paid;

(5) Relevant documents authorizing the lender to inquire about the personal credit information system of the People's Bank of China and record the inquiry results;

(6) A legal and effective procurement contract or agreement;

(7) Other documents or materials required by the lender.

Second, the repayment of loans.

The way to repay the loan principal and interest can be one-time principal and interest repayment, equal principal and interest repayment or equal principal repayment. After the borrower submits a written application for prepayment to the lender, with the consent of the lender, it may repay part of the loan principal or settle all the loan principal and interest in advance.

Bank of China-Personal Commercial Housing Loan

How to collect the liquidated damages for prepayment of bank mortgage in China?

The conditions for early repayment and whether to pay liquidated damages are clearly stipulated in the personal loan contract signed with you. In case of prepayment, Bank of China will charge fees according to the contract. The charge standard for prepayment is the loan interest of up to six months.

The expenses for prepayment shall be implemented according to the loan contract. You can check the loan contract or ask the loan handling outlets in detail.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GO APP to handle related business.