Hello there,Repayment in advance
There are different ways that most banks can now provide five ways to repay loans in advance for customers to choose.
, that is, the customer will have all the remainingloan
Pay off once. (No interest, but the interest paid will not be refunded)
In the second case, some of the repayments were made in advance, and the remaining loans kept the monthly repayment amount unchanged, shortening the repayment period. (Save more interest)
The third kind, some repayments in advance, the remaining loan will reduce the monthly repayment amount, keep the repayment period unchanged. (Reducing monthly burden, but saving less than the second)
The fourth, partial repayment in advance, the remaining loan will reduce the monthly repayment amount, while shortening the repayment period. (Save more interest)
In the fifth type, the remaining loans keep the total principal unchanged, and only the repayment period is shortened. (Increase in monthly supply, reduce some interest, but it is relatively uneconomical)
Experts suggest that in advance of repayment, principal should be reduced as much as possible, and the loan period should be shortened so that the interest on the expenses is less.