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What is the bank's early repayment penalty?

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

1. China Merchants Bank: If the loan is less than one year, it will be repaid in advance and will be charged three months of interest, which is not less than the actual amount of repayment. If the loan is full after one year, it will be repaid in advance and will be charged no less than one month's interest on the actual repayment amount.

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

3. Agricultural Bank: The loan is repayment in advance less than one year. It is charged on the basis of the principal amount 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 is full for one year, the loan is repaid in advance. As long as there is no record of advance repayment in advance, no penalty will be charged. If you have already taken early repayment, if you apply again after one year, you will not receive liquidated damages.

4. Industrial and Commercial Bank of China: The loan will be repaid in advance less than one year, and 5 percent of the amount of early repayment will be used as penalty for breach of contract. If the loan is repaid in advance after one year, no liquidated damages will be charged.

5,Bank of China: If the loan is less than one year in advance, it will be repaid in advance and the maximum amount of interest liquidated will be no more than six months (according to the loan interest on the prepayment date). If the loan is repaid in advance after one year of the loan, no liquidated damages will be charged.

6,Bank of Communications: Some of the provisions for early repayment of loans can not be less than 6 times the monthly repayment amount, the maximum can not exceed 35% of the monthly repayment amount, part of the early repayment can be repaid once a year free of charge. All early repayments shall be subject to payment of liquidated damages and shall be charged 1% of the amount of the repayment. However, the specific amount of repayment must also be implemented in accordance with the contract.

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

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

9. Shanghai Pudong Development Bank: The loan is repayed less than one year in advance and receives 1.5% or 3% different interest. There is also no penalty, and the contract stipulates how much it will charge. One year after the loan is repaid in advance, no liquidated damages will be charged.

10. Development Bank: The repayment can be applied for repayment in advance more than two years later. The specific circumstances should be based on the contract at the time. If the loan is repaid in advance less than two years, it will be required to pay the breach of contract agreed at the time of signing the contract. If there is no agreement, the loan will not be charged.

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