The specific interest rate of decoration loan is actually related to many factors, such as the city where it is located, the bank it chooses and so on. The interest rate of decoration loan products of banks generally fluctuates on the basis of the benchmark interest rate of the central bank, and different banks set interest according to this system. The annual interest rate of the loan term is about 5.6% for less than one year and about 6% for one to five years. If the loan term exceeds five years, the required interest is about 6. 15%.

How many years can I borrow a decoration loan?

I. Detailed Rules for Decoration Loan of China Construction Bank

1. Loan target: 18 to 60 years old China citizens with full civil capacity;

2. Loan amount: the starting point of the loan is RMB 5,000 (including RMB 5,000), and the maximum is RMB 654.38+RMB 500,000 (including RMB 654.38+RMB 500,000);

3. Loan term: the shortest half year and the longest not exceeding 5 years (including 5 years);

4. Loan interest rate: the loan interest rate for the same period stipulated by the People's Bank of China shall apply;

5. Guarantee method: pledge, mortgage and qualified third-party natural person guarantee recognized by CCB.

Two. ICBC Decoration Loan Rules

1, with urban permanent residence or valid residence status;

2. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule;

3. Take the assets recognized by the bank as collateral or pledge, or take the units or individuals with sufficient compensatory capacity as guarantors to repay the loan principal and interest and bear joint and several liabilities;

4. There is a house renovation contract, decoration budget and related materials signed with the decoration enterprise approved by the competent department;

5, with no less than 50% of the total decoration budget of its own funds, and before the use of loans into the project construction;

6. Loan term: the longest loan term shall not exceed 10 year (including 5 years);

7. Other conditions stipulated by the bank.

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