Hello, can an online loan be paid off early?

It's not that online loans can't be repaid early.

However, the online loan market is uneven, and some customers may not be able to receive more interest after early repayment, and may carry out "routines", resulting in the amount being reduced or suddenly unable to lend after early repayment. Of course, the platform does not lend more because the customer cannot pass the comprehensive evaluation and review of the system.

Large early repayment will not have any adverse impact on the customer's personal credit. After all, early repayment is also paid off before the due repayment date, so it is naturally considered to be repaid on time. If the loan is not overdue, it will naturally not affect the credit, and only if it is overdue, it will lead to damage to personal credit.

In fact, customers only need to remember to repay on time after borrowing, whether it is to repay the loan in advance, or deposit the money into the repayment account and the system will deduct the money on the repayment date.

It can be paid off early, and the interest can be reduced a lot.

The term of each online loan platform is different, so the term of the online loan depends on the specific situation of the loan. The repayment methods of online loans include one-time repayment of principal and interest, interest first and principal later (monthly interest payment, principal repayment at maturity), and equal principal and interest (equal principal). Ultra-short-term (less than 45 days) loans are generally a one-time repayment of principal and interest, short- and medium-term projects (less than 6 months) are generally interest-first, and long-term and ultra-long-term projects are generally equal in principal and interest.

Therefore, if the repayment method is a one-time repayment of principal and interest, then the repayment period of the online loan will usually be within one and a half months, and if the repayment method is interest first and principal later, then the repayment period of the online loan is generally within six months. If the repayment method is equal principal and interest, then the repayment period of the online loan is often up to several years.

Extended Materials. 1. Precautions for online loans.

1. Degree of platform formality: Generally speaking, formal online lending platforms have three characteristics: they have a formal small loan license, have a good user reputation, have strong platform capital strength, and are backed by large well-known companies.

2. Platform loan fees: When applying for online loans, you must pay attention to the loan fees, the annualized loan interest rate of the online loan platform = monthly loan interest rate 12 = daily loan interest rate 365. If the annualized loan interest rate of the online loan platform is more than 36%, then it is a loan shark, you must not borrow, and understand whether the online loan platform has upfront costs, what are the names of the upfront costs, if the upfront costs of an online loan platform are too much, you should pay special attention, in addition, you should pay attention to whether the online loan platform has hidden fees.

3. When applying for online loans, it is necessary to pay attention to avoid leaking too private information to the online loan platform. However, the necessary personal information must still be provided, such as identity information, bank card number, mobile phone number, sesame points, credit reports, etc., and cannot be falsified.

4. Loan risk control: see whether the selected online loan platform is standardized, whether there is a complete set of risk management and control technology, whether there is a mortgage, whether there is a set of strict credit review process, whether there is a mature risk control team, whether there is a repayment risk fund, whether each claim is very transparent, whether it will mail bills and debt lists to customers at a fixed time every month, etc.

It's not that online loans can't be repaid early.

Extended information: Consequences of non-repayment of online loans.

1.High penalty interest and liquidated damages.

High penalty interest refers to the lender's failure to repay the required amount of the loan on time within the specified period, so that the corresponding overdue penalty interest is calculated. If the debtor extends the overdue period for a period of time, the prescribed interest will be higher, but no matter how high, it cannot exceed the legal scope of Chinese law. If the loan is not repaid, the lender will be required to pay the corresponding liquidated damages.

2.Credit damage.

If the loan is not repaid, it will also affect its creditworthiness. Nowadays, many banks and online loan companies.

All use a shared system. If you borrow money from a certain bank or loan company, you won't pay it back. Then, there is a possibility that other ** loan companies or banks will know what you owe on the loan.

If you want to apply for a loan later, it will be difficult or impossible to get a loan. Because your credit has been damaged.

3.Harassed by all means.

If the loan is not repaid, it may be harassed by online lending companies. Sending text messages and calling lenders' relatives 24 hours a day is a relatively effortless act. Some ** lenders will outsource collections to specialized companies that specialize in collections.

There are various methods of collection for these professional accountants. Sometimes, the "violent collection" behavior of a collection company can also lead to the fragmentation of a family.

4.In severe cases, it will lead to a ban on the balance code.

If the criminal resolutely refuses to fulfill the obligation to repay the loan and wants to become an old beggar, causing a very bad situation, the court will investigate the criminal responsibility of the criminal.

Miracle in the Temple: Debts should be paid off. If it is temporarily unable to repay, the debtor may repay it in installments with the consent of the creditor or the ruling of the people's court. Where they have the ability to repay and refuse to repay, the people's court is to compel repayment.

Legal Analysis: No need to pay it back. After early repayment, how to calculate the interest, first depends on the agreement in the contract, if there is no agreement in the contract, then the determination of interest is only calculated until the date of repayment.

Legal basis: Article 677 of the Civil Code of the People's Republic of China Where the borrower returns the loan in advance, the interest shall be calculated according to the actual period of the loan, unless otherwise agreed by the parties.

Legal analysis: If the loan contract has the right to stipulate that early repayment is not supported, you can only repay the loan in accordance with the loan contract.

Legal basis: Civil Code of the People's Republic of China

Article 673: If the borrower fails to use the loan in accordance with the agreed purpose of the loan, the lender may stop disbursing the loan, withdraw the loan in advance, or terminate the contract.

Article 674:The borrower shall pay interest within the agreed time limit. Where there is no agreement on the time limit for the payment of interest or the agreement is not clear, and it is still uncertain in accordance with the provisions of Article 510 of this Law, and the loan period is less than one year, it shall be paid together with the return of the loan; If the loan period is more than one year, it shall be paid at the end of each year, and if the remaining period is less than one year, it shall be paid together with the return of the loan.

Article 676: Where a borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or the relevant provisions of the State.

Legal analysis: In this case, if the contract states that early repayment can be made, then this is not considered a breach of contract, and if the contract does not say it, then early repayment is counted as a breach of contract.

In addition to the contract, according to the law, the creditor may also require the debtor to repay the loan in advance under the following circumstances: 1. Before the expiration of the loan term, the borrower clearly indicates that it will not perform the main debt 2. Before the expiration of the loan term, the borrower shows that it does not perform the main debt by its own behavior 3. The borrower delays the performance of the main debt and fails to perform it within a reasonable period of time after being reminded 4. The borrower has other breaches of contract that make it impossible to achieve the purpose of the contract 5. The loan contract stipulates that the lender may require the borrower to repay the loan in advance. 6. The lender exercises the right to defend against uneasiness.

Legal basis: Article 577 of the Civil Code: If one of the parties fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, it shall bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 584 of the Civil Code: Where one of the parties fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, causing losses to the other party, the amount of compensation for the losses shall be equivalent to the losses caused by the breach of contract, including the benefits that can be obtained after the performance of the contract; provided, however, that it shall not exceed the losses that may be caused by the breach of contract that the breaching party foresaw or should have foreseen at the time of entering into the contract.

Article 585 of the Civil Code: The parties may agree that when one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party according to the circumstances of the breach, and may also agree on the method of calculating the amount of compensation for losses arising from the breach. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; Where the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties. If the parties agree on liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.

The formal path should be to find the personal center, select the personal loan page, find the loan management, then check the loan page, find the loan record, click in, select repayment, and repay in advance.

We can take a look at whether there is a word for early repayment on the software, if there is, click on the early repayment, and then you can enter the amount, and that's it.

You only need to communicate with the other party, and you can also click the button for early repayment, which is also possible, so don't worry too much.

After borrowing money from the online loan platform, according to the repayment requirements, you can apply in advance and wait for approval, and then you can repay the loan directly.

Whether it is borrowing or online loans, repaying on time is a relatively safe choice. In this way, additional penalty interest and late fees caused by late repayment can be avoided, and the negative impact on personal credit evaluation caused by late repayment can be reduced.

However, early repayment is also a good way to repay. Early repayment allows borrowers to get out of debt early, reducing the burden and stress. In addition, early repayment can also reduce the cost of loan interest and save a certain amount of interest expenses, which is also a wiser choice in the long run.

Of course, you need to read the contract or agreement carefully before making early repayment, and consult the relationship manager of the relevant loan service provider or bank. Different borrowing institutions or banks may have different policies on early repayment, and there may be procedures and fees related to early repayment, so it is important to understand clearly when making early repayments to avoid incurring additional fees.

In short, it is a viable option to repay the loan either on a regular basis or in advance. Before making a choice, you need to understand the policies and terms of the relevant Tonglim, and make a choice according to the actual situation and needs of the individual, so as to ensure that the loan repayment can be carried out in an orderly manner, and at the same time protect the individual's credit history and financial health.