Credit card repayment method:
The first type: fixed interest rate repayment.
Because it is the risk of interest rate increase locked by the borrower in advance, it will often be higher than the benchmark interest rate by a certain percentage point.
The second type: equal principal repayment.
With the repayment method of average capital, when the borrower starts to repay the loan, the monthly burden will be greater. However, as the repayment time goes on, the repayment burden will be gradually reduced, and the final total interest expenditure will be lower.
The third type: equal repayment of principal and interest.
Repay the mortgage by matching the principal and interest, and the borrower's monthly payment will remain unchanged. It is convenient for borrowers to arrange income and expenditure because they bear the same amount every month.
The fourth type: free repayment of provident fund.
Free repayment is a unique repayment method for provident fund loans. Compared with the traditional repayment of equal principal and interest or equal principal, the free repayment of provident fund is more flexible.