[2023] Waiting in a long line to make an appointment for repayment, why the bank "dissuades"

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Changsha Xiao Xiao said in an interview with the Securities Daily reporter, &quo...

Changsha Xiao Xiao said in an interview with the Securities Daily reporter, "A few years ago, early repayment was scheduled for May, but now it is even more difficult to make an appointment." Giyu Bank visits are not limited to this. But only in long lines, but officials will convince residents of that intention.


[2023] Waiting in a long line to make an appointment for repayment, why the bank "dissuades"

A reporter from the Securities Daily found out through several interviews that the number of people who prepay loans is definitely increasing. And banks deliberately control the amount and rate of repayment. Why do residents band together to pay off their loans ahead of time? Why did the bank deliberately refuse it? With these two questions, the reporter went to the interview.


Wealth management income is lower than mortgage interest.


Bank wealth management income is significantly lower than mortgage interest. This is the main reason for most early payers.


The chairman of the Changsha Branch of State-owned Bank told the Securities Daily reporter, "Prepaid borrowers are basically borrowers whose mortgage interest rate is 5-6%, and the yield is only about 3%. A significant inverse of the loan interest rate. And wealth management income is mortgage interest It doesn't get any better, which is why many people choose to prepay their loans.”



Relevant data further confirms the above statement. In 2022, bank wealth management products faced two massive net asset reversals: last March; Many banking wealth management products fall below net worth. At one time, the number exceeded 6,000.


“The fund I bought last year covered 20-30% instead of making negative returns like this. It's a good idea to pay off your loan in advance to save on interest. Many homebuyers in the homeowners group pay off their loans in advance. It is based on this concept,” said Mrs. Xiao.


During the inspection, the reporter discovered that there are many types of early repayments, including full repayments. Convert partially repaid commercial loans to prepaid fund loans. However, in the final analysis, it is to improve the efficiency of the use of money.


Ms. Wu, a long-term mutual fund loan guarantor, told the Securities Daily reporter: "Changsha Mutual Fund Center has recently increased the loan amount and mutual funds. The fund interest rate is lower than commercial loans, so many buyers prefer commercial loans as prepaid fund loans. Switch to and select Prepaid.”


Regarding this, the head of the bank mentioned earlier said, “There is nothing wrong with increasing the efficiency of capital utilization. But everyone should do what they can. We recently discovered that some speculators are encouraging residents to pay off their loans early. "The mortgage is paid off and then the house is put up as collateral. The loan term is usually short and it creates a lot of pressure and financial risk for the family if they need money urgently later," she said.


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