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What is the bank’s early repayment penalty?

Time: 2016-11-17         Source: Rong 360 finishing         Author: 360 Financial consolidation

1. China Merchants Bank: The loan is repaid in less than one year, and the interest is not less than the actual repayment amount of three months. After the loan is repaid in one year, the interest will be no less than one month of the actual repayment amount.

2. Construction Bank: The loan is repaid in advance less than one year, and 3% of the early repayment amount is charged. The loan is repaid in advance from one to two years, and 2% of the prepayment is charged. The loan is repaid in advance from two to three years, and one percent of the prepayment is charged.

3. Agricultural Bank: The loan is repaid in less than one year, and is charged according to the principal multiplied by the monthly interest rate. The monthly interest rate is the loan interest rate divided by 12 months minus the number of repayment months. After the loan has been repaid in advance for one year, as long as there is no prior repayment record, no penalty will be charged. If you have already paid for the advance payment, you will not be charged for liquidated damages after one year.

4. ICBC: The loan is repaid in advance less than one year, and 5 percent of the early repayment amount is charged as liquidated damages. If the loan is repaid in advance after one year, no penalty will be charged.

5,Bank of China: The loan is repaid in less than one year, and the maximum amount of interest penalty is not more than six months (calculated according to the loan interest rate on the prepayment date). If the loan is repaid in advance after one year of the loan, no penalty will be charged.

6,Bank of CommunicationsThe partial advance repayment requirement shall not be less than 6 times the monthly repayment amount, and the maximum shall not exceed 35% of the monthly repayment amount. Some prepayments may be repaid free of charge once a year. All prepayments are subject to payment of liquidated damages and 1% of the current repayment amount. However, the specific repayment amount must be implemented in accordance with the contract.

7. Guangfa Bank: The loan is repaid in less than one year, and the interest of two months is charged as liquidated damages. The loan will be repaid in advance after one year of loan, and no penalty will be charged.

8,Everbright Bank: The loan is repaid in less than one year, and the interest of 3%~6% is charged as liquidated damages. Specifically, it must be implemented in accordance with the contract. The loan will be repaid in advance after one year of loan, and no penalty will be charged.

9. Shanghai Pudong Development Bank: If the loan is repaid in less than one year, it will charge 1.5% or 3% of different interest, and there will be no penalty for the breach of contract. The loan will be repaid in advance after one year of loan, and no penalty will be charged.

10. Development Bank: After repayment for more than two years, you can apply for early repayment of the loan. The specific circumstances must be based on the contract at the time. If the loan is repaid in advance less than two years, it is necessary to pay the liquidated damages agreed upon when signing the contract. If there is no agreement, it will not be charged.

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