Common use of Early Repayment Fee Clause in Contracts

Early Repayment Fee. X% of the prepaid amount (the amount paid to settle the outstanding principal balance) if the early payment equals 0x the scheduled monthly payment of the principal, interest and insurance at the time of payment. X% if prepaid with own funds. But no more than: 2% - if more than 24 months remain to credit maturity 1% - if 12 to 24 months remain to credit maturity 0.5% - if 6 to 12 months remain to credit maturity 0% - if less than 6 months remains to credit maturity