The most correct way to repay the loan in advance

What is the most correct way to repay the loan in advance?

First,? pay in full

That is, pay off all the loans at one time. This repayment method requires the borrower to pay off all the interest and principal of the loan, which is the most cost-effective way for buyers to pay off at one time.

Second,? The monthly payment is unchanged and the term is compressed.

That is, on the premise that the fixed amount returned to the bank every month remains unchanged, the overall repayment cycle will be shortened. "Constant monthly payment and compressed term" is the most recommended prepayment method in the industry, which has the advantages of shortening repayment cycle and reducing repayment interest.

Third, reduce the monthly payment and maintain the repayment period.

That is, the monthly repayment amount to the bank will be reduced, and the overall repayment period will remain unchanged.