I want to prepay the loan and don t know how to calculate 100

Oh, what a coincidence, I also bought a house in October 09, and began to repay the loan in March 10, and it is also from the Bank of China, and it is also a 7% discount interest rate, and you are really right to ask me, because I just finished changing it in April.

First of all, tell you how much money you still owe to the bank. For example: if you borrow 245,000, you should repay more than 1,700 per month, which includes interest and principal.

For example, if the interest is more than 1,100, your principal is more than 600. It's June 11, and it's been a total of 17 months since you repaid the loan, and 17 times 1100 equals 18700, and these are the principals. You borrowed 245,000, 245,000 minus 18,700 = 226,300

That's probably the money. Because I don't know how much you have to pay back every month, how much principal you have, and how much interest. In general, it is the amount of money you borrow - the principal of your monthly repayment multiplied by the number of months you have to pay back, and the rest is the money you still owe to the bank.

Now, as long as it is more than a year, you don't have to pay liquidated damages, but you have to give people an extra month of interest, which is not much, about 600,700 yuan. The process is very fast, but as a reminder of experience, go to the bank in the morning, between 8 and 10, and between Monday and Wednesday, beyond which you will generally not find her person.

In addition, I am telling you, if the bank asks you for more money or something, it is all to lie to you, who doesn't want to ask for more money, didn't you have a loan contract at the beginning, it is recommended that you carefully read your contract, if she wants to ask for more money, you will use the contract to talk to her, and she will not move. I have a friend who just didn't figure it out and gave more interest to others for three months.

If you still don't understand, ask me again. Gotta give me the best, hehe.

If the loan is more than 1 year, there is no need to pay a penalty for early repayment, but the implementation varies from place to place. If you want to know the balance of your loan, please bring your ID card to the bank customer department when applying for the loan and let the special account manager help you check it, because the principal and interest are calculated according to the amount on the day of repayment. It is a very convenient and fast way to get to the bank.

If you repay the loan in installments, you can't repay the loan all at once.

1. How to calculate the interest on early repayment.

There are two types, one is full prepayment and the other is partial prepayment.

Full prepayment refers to the one-time settlement of the principal and interest of the mortgage. After full prepayment, the interest is calculated until the day when the principal and interest of the bank are repaid, in other words, the interest will be calculated for as long as you have borrowed from the bank.

Partial prepayment is a situation where only a part of the principal and interest of the loan is repaid, and the remaining principal and interest are still outstanding. The interest of the outstanding loan principal and interest is still implemented according to the loan interest rate agreed in the original loan contract (if there is a discount, it will continue to be discounted).

There are two repayment methods to choose from for the part of the outstanding loan balance of partial early repayment, one is to shorten the loan repayment period, and the monthly payment amount is inconvenient; Second, the loan repayment period is not easy to change early, and the monthly payment amount is reduced. In contrast, the first one is more interest-saving.

Note: "No prepayment within half a year, prepayment of 1% liquidated damages" Buyers need to check the requirements for prepayment in the loan contract first, and pay attention to whether they are required to pay a certain amount of liquidated damages for prepayment.

Second, how to repay the loan is more cost-effective.

1. Enjoy a preferential interest rate of 7% to discount when signing the loan contract.

As a result of the lower discount interest rate, it is now in the interest rate reduction channel. If the central bank does not cut interest rates this year, even if the interest rate is implemented on January 1 next year, the interest rate will only be lower than that of the previous period, and it is not appropriate to repay the mortgage early.

2. Buyers who have passed the repayment period of 1 3 with equal principal repayment.

Since the equal principal amount is divided equally into the total amount of the loan, the repayment interest is calculated based on the remaining principal. That is to say, the later this repayment method is, the more the principal is left, and the less interest is generated. In this case, when the repayment period exceeds 1 3, the borrower has repaid nearly half of the interest, and the later repayment is more of the principal, and the interest has little impact on the repayment amount.

Mortgage prepayment is not recommended.

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Hello! The early repayment of personal housing mortgage loans of ABC is handled as follows: the borrower shall submit a written application to the lending bank at least 30 days in advance and obtain the consent of the lending bank to apply for early repayment of the housing loan.

The materials to be brought for early repayment of personal housing loans are the borrower's identity document, the personal housing purchase guarantee loan contract, and the original housing loan repayment card (discount), and the application shall be submitted to the original loan agency in advance according to the contract. Please consult your local lender for details. The standard of liquidated damages for early repayment is subject to the loan contract signed between the customer and our bank, please check the provisions of the loan contract or contact the loan handling branch for verification.

Summary. Hello! After confirming with the lending institution, if the housing loan is partially repaid in advance, the calculation principle of shortening the repayment period will be based on the interest-bearing repayment method determined in the original loan contract.

Hello! After confirming with the lending institution, if the housing loan is repaid in advance, the calculation principle of shortening the repayment period will be based on the interest-bearing repayment method determined in the original loan contract of Royal Oak.

Recalculate the loan balance and final repayment period after prepayment of part of the loan, and re-sign the loan change contract with the borrower.