Loan
According to the "Notice of the People's Bank of China, Ministry of Finance, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and the State Administration of Foreign Exchange on Further Strengthening Financial Support for the Prevention and Control of the New Coronavirus Pneumonia Epidemic" (Yinfa [2020] No. 29), for those who are hospitalized for treatment or isolation due to new pneumonia, those who need to be quarantined for epidemic prevention and control, those who participate in the epidemic prevention and control work, and those who temporarily lose their source of income due to the epidemic, financial institutions can flexibly adjust personal credit repayment arrangements such as housing mortgages and credit cards, and reasonably postpone the repayment period. The internal measures of each bank vary in specific operations. If you meet these circumstances, you can contact your lending bank for communication and negotiation.
After consulting the bank, the financial support policies for bank loans can be roughly divided into the following three categories:
1. Delayed repayment of principal (repayment of interest but not principal) : Repayment of interest every month, business loan customers delayed repayment of principal for up to one year, and other loan customers delayed repayment of principal for up to half a year.
Example 1: The business loan customer borrowed 1 million yuan in 201908, with an interest of 6%, and repaying principal and interest per month of 8,833 yuan. After applying for delayed repayment of principal, he only paid interest of 5,000 yuan per month, and the remaining principal will be left when due. It is mainly suitable for business loan customers who repay principal and interest every month.
Example 2: Mortgage loans that are closely related to everyone: 1 million yuan in loans, benchmark interest rate 4.9%, equal principal , 360 months, the first monthly payment of 6861.11 yuan (including principal 2777.78 yuan). The first repayment began in 201801. As of the end of January 202001, 25 periods of repayment have been paid (excluding 202002), with a principal balance of 93.060,000 yuan. If the application for delayed repayment of the principal for half a year, the monthly html will be repaid for 3799.77 yuan per month from 202002 to 202007. Starting from 202008, the principal balance is 930,600 yuan, the remaining loan term is 329 months, and the monthly payment is 6628.52 yuan (of which the principal is 2,828.57 yuan [930,600 yuan/(360-31) months] + interest 3799.77.
Have you noticed that after the delay in repayment of principal, the monthly payment monthly principal is 60 yuan more than before. This 60 yuan is the delay in repayment of principal for half a year and spreads the amount of principal repayment in each period in the future. In fact, delay in repayment of principal causes a little more interest expense than before, but reduces the pressure of short-term repayment.
329 monthly repayment details
2. Adjustment repayment date (delayed repayment of principal interest) : The maximum delayed repayment is 6 months. That is, after applying for adjustment of repayment date, the repayment can only be paid after up to 6 months. The principal interest generated during this period is spread to the subsequent repayment plan.
cases: mortgage: 1 million yuan in loan, benchmark interest rate 4.9%, equal principal and interest , 360 months, monthly payment is 5,307 yuan, first repayment in 202001, the principal after repayment is 998,800 yuan. 202002 applies for adjustment of repayment date for 6 months, then 202002- There is no need to repay the loan during 202007. The repayment amount in 202008 is about 29,817 yuan (of which the six months interest of 202002-202007 is 24,470 + monthly payment of 5,347), and the monthly payment will be 5,347 yuan each year, which is 40 yuan more than before.
3. Adjusted maturity date (loan term extended) : The business loan customer is the longest one year, and other loan customers are the longest six months.
case 1: The business loan customer has a loan of 1 million yuan in 201908, with a one-year term. After the adjustment maturity date, the principal can be repaid at the latest in 202108.
case 2: Mortgage customer The household loan is 1 million yuan, the benchmark interest rate is 4.9%, equal principal and interest, 360 months, and monthly repayment is 5,307 yuan. The current remaining loan term is 25 years, the loan balance is about 915,400 yuan, and the adjustment date is half a year, the loan term is 25.5 years, and in 306, the monthly repayment is 5,245 yuan, and the monthly payment has been reduced by about 62 yuan.
In summary, Real Estate Finance Jun thinks that for the majority of mortgage customers, the first and second method is more suitable. However, you need to combine your own actual situation and do not apply impulsively and blindly.
Since it is a comprehensive policy of various banks, please consult the loan bank, and the specific implementation of the loan bank shall prevail.
discuss real estate and finance with you, please pay attention!
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