September 20th, 2010 | 
Author: With the interest rate and policy changes, many people began to consider in advance to pay off bank loans, loan repayment ahead of schedule which also France, What are the requirements, the attention to what the problem? Full prepayment, including advance payments, advance payments and loans to some of the same period, early partial repayment and shorten the term of the loan three cases. Loans the bank can only accept payment from a personal loan repayment on the second, the borrower for early repayment.
Prepayment process (in the Agricultural Bank as an example)
Telephone counseling
Want to learn early repayment of the relevant information, we must first call to apply for loans had branches, contact the clerk or a customer apply for credit managers, can apply for advice in advance loans, apply for loans in advance the need for an appointment, determine the time. Every day, some banks are not able to provide consulting services on prepayment.
Reservation
To ensure orderly business operations, most banks require customers to make an appointment in advance, and the time required for each branch, the procedures vary. For example, the Agricultural Bank of China Shanghai Branch demands prepayment for one month in advance, and then each branch of the case according to their workload at a reception on unification process.
Formalities
Repayment before, customers need to prepare identity cards and bank had signed loan contracts. Apply early repayment of the procedure is simple and can be within one day after finishing. To the Agricultural Bank, for example, customers in addition to repayment, the only fill in two forms, namely “Agricultural Bank of China Shanghai Branch at the reduced rate for individual housing loans, for approval” and the “Agricultural Bank of China Shanghai branch of individual housing loans reduced rate of agreement. “
Insurance refund
If customers choose all of prepayment, then pay off the entire loan, the original insurance contracts of individual housing loans have an early termination of housing. In accordance with the relevant provisions, the lender can bring the original insurance certificate and pay off the loan ahead of schedule, to pay insurance premium refund. Therefore, lenders, after a loan repayment ahead of schedule after the procedure, do not forget to back the insurance company of their own money.
Early repayment method (for example the Agricultural Bank)
Full prepayment, that is, customers will be left off all the loans repaid. Part of the prepayment, the remaining loans maintain the same monthly repayment amount, repayment period will be shortened. Part of the prepayment, the remaining loan will reduce the monthly repayment amount, repayment period remain unchanged. Part of the prepayment, the remaining loan will reduce the monthly repayment amount, repayment period will be shortened at the same time. The total principal amount of the remaining loans remained unchanged, only to shorten the repayment period.
Special Note
Procedures and apply the prepayment fund description of the procedures
1. Full payment in advance:
Audit related materials by the lending bank is correct, the handle all the payment procedures in advance.
2. Early part of the term of the loan repayment and the same:
Lending bank borrowers fill in the relevant agreement guidance. If the original loan by way of security for the mortgage + insurance, and mortgage registration is not handled, the policy needs to support the original ID card and related agreements with insurance companies to the city center by the specified security procedures, the final completion of the agreement signed by the lending bank in a timely manner sent to the appropriate sub-centers.
3. The original way of loan guarantees and mortgage choice mortgage + insurance, registration has been completed and selection of non-mortgage + insurance, borrowers apply for early partial repayment and shorten the term of the loan:
Lending bank guide borrowers fill the relevant agreements, completion of an agreement signed by the lender promptly sent to the appropriate sub-centers.
4. The original loan by way of security choice is still the insurance mortgage + insurance, period, and mortgage registration is not complete:
Early part of the borrower for repayment and shorten the term of the loan can be secured directly to the Centre.
Note fund prepayment
1, early repayment must be handled by the borrower to counter the repayment procedures. As a monthly commission charge phase, the borrower’s account is sealed state, over the counter payments can not be accounted for, so borrowers apply for sub-items of business should pay attention to avoid the charge time.
2, operation after the implementation of prepayment, the borrower after a month and the monthly installment amount charged if the work is still required to adjust the installment amount, agreed upon in approving early this month to re-adjust.
3, some commercial banks are required to provide business loans and repaid only after one year prepayment.
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Posted in Business Loans | 
Tags: advance payments, insurance certificate, loan-repayment, pay off bank loans, provide business loans