1. How to repay a Shanghai Pudong Development Bank loan in advance?
Call the official customer service number of Shanghai Pudong Development Bank to make an appointment in advance. After all, early repayment of a mortgage loan is not something that can be done easily. Then bring your ID card, loan contract, house purchase contract, real estate certificate and other relevant information to the counter of Shanghai Pudong Development Bank at the agreed time.
2. How to handle the early repayment procedure of Pudong Development Housing Loan
Hello!
Go to the bank to apply first and then repay it within the specified time. Then go to the trading center to cancel the mortgage.
This is just my personal opinion. If you don’t like it, please don’t comment. Thank you.
3. What is the process for early repayment of housing loan at Shanghai Pudong Development Bank?
1. First check the requirements for early repayment in the loan contract and pay attention to whether certain liquidated damages are required for early repayment.
2. Call the lending bank to inquire about the application time for early repayment and the minimum repayment amount, etc., and prepare other required information.
3. Go to the relevant department in person to apply for early repayment as required by the bank.
4. The borrower brings relevant documents to the borrowing bank to go through the relevant procedures for early repayment.
5. Submit the "Early Repayment Application Form" and deposit the early repayment amount at the counter.
Regulations on early repayment of Shanghai Pudong Development Bank mortgage loans
After applying for a mortgage at Shanghai Pudong Development Bank, if the loan is repaid early within one year, there are two methods of liquidated damages, one is 1.5 Interest, the other is 3 interest, and no penalty will be charged after the loan is full for one year.
Notes on early repayment of mortgage loan
1. Shortening the loan term requires re-signing the loan contract
If you choose to shorten the loan term, repaying the remaining part of the loan early requires re-signing the loan contract. For example, if you have a loan of RMB 1 million, you have repaid RMB 300,000, and you still have RMB 700,000 left to repay, and you want to apply for an early repayment of RMB 200,000. If you choose to shorten the loan term, after repaying RMB 200,000, the remaining RMB 500,000 loan will have to be negotiated with the bank. Re-sign the loan contract and execute the remaining loan according to the latest mortgage interest rate. Credit policies have tightened this year, and the interest rate discounts in many hot cities have dropped sharply. The interest rate used to be 8.5% off, but now it is 9.5% off or even the benchmark interest rate. In addition, the bank will also re-evaluate the borrower's personal qualifications. Some lenders have credit problems during the repayment period, which will affect subsequent loan repayments and may even increase the loan interest rate!
2. Early repayment may not be cost-effective
If you enjoyed an interest rate discount of less than 10% when you took out the loan, instead of repaying early now, it is better to use it for financial management. Although being debt-free makes you lighter, having no debt will also make the process of primitive accumulation of wealth longer. Good debt is leverage and can leverage greater wealth.
Of course, if you want to reduce your monthly repayment burden, it is another matter if you have your own plans and intentions. When deciding to repay a loan early, it is best to consult the lending bank in advance. If you have already bought a house, ask about the current policy requirements. If you are planning to buy a house, and if you plan to repay early in the future, you should also ask clearly about the policy and the default clauses and liquidated damages. Wait for important content to be implemented into the loan contract. After all, policy changes are one of the risks that affect early repayment of a loan for house purchase. The more thorough the consideration in advance, the more risk can be minimized.
4. Early repayment of Shanghai Pudong Development Bank mortgage loan
Early loan repayment process:
1) Make an appointment in advance. During the loan period and one year after the loan is issued, with the consent of the bank, you can apply in writing to return part or all of the loan in advance. The business takes 2-7 working days. Each bank has different regulations on early loan repayment, and lenders must understand the lending bank's operating procedures.
2) Loan documents must be prepared. If the borrower wants to apply in person, he or she should bring his or her ID card and loan contract to the bank to go through the approval procedures. If you are a borrower who has settled all the balance, after the bank calculates the remaining loan amount, it will be convenient for the borrower to deposit enough. If you are a customer and owner of the mortgage business, it is better to organize a notarization to avoid leaving the home with the down payment. Help the owner to face the risk of price increase after paying off the balance.
3) The interest rate after the interest rate cut will be calculated at the beginning of the new year. Therefore, even if the loan needs to be repaid in advance, the lender must seize the opportunity and try to make it as late as the end of the year before the new interest rate takes effect. Pay off your loan early. After repaying the entire loan in advance, the lender must remember to go to the insurance company and other departments to surrender the policy.
4) After the entire balance is settled, the bank will issue a settlement certificate. The borrower can bring the original copy of the loan statement and invoice issued by the bank, call the relevant insurance company, and make an appointment to surrender the policy. When a borrower applies for a loan, the bank will register the mortgage. If the customer pays off the loan, he must not forget to untie the mortgage. The borrower must bring the real estate certificate, settlement certificate and other mortgage rights certificates in the bank