Decoration is a problem that every family needs to face. Sometimes it takes a lot of money to carry out large-scale and high-quality decoration. If cash is tight and you don't want to delay the renovation plan, you can consider applying for a renovation loan. Then, what is the interest on the renovation loan of 654.38 million yuan in one thousand years? Let's have a look.

/kloc-how much interest does a decoration loan of 0/00000 have for one year?

For example, if the loan is 6,543,800 yuan and the five-year installment interest rate is 0.25%, the monthly interest rate is 6,543,800 yuan *0.25%=250 yuan, and the monthly principal is 6,543,800 yuan /60 months = 654.38 yuan+0666.6 yuan, so the monthly payment is 6,543.6 yuan.

Other knowledge points:

1, installment interest rate

Decoration loan is a large credit loan, and its installment interest rate is generally around 0.25%, even as low as 0.22% during the activity. The 0.25% installment interest rate is generally around 5.64%. Compared with online loans and ordinary credit, interest rates do have great advantages.

2. Term and amount of the loan

The loan term is 1-5 years. Usually, in order to reduce the pressure of monthly supply, people will choose a longer term. The loan amount is 8- 1 10,000, that is to say, whether you dress simply or luxuriously, you can meet your needs.

3. Repayment method

Let's talk about the repayment method of decoration loan-equal interest, which should be familiar to friends who have studied credit. Equal interest means that the decoration interest will not decrease with the decrease of repayment principal, but will be calculated according to the original principal. The simple understanding is that the monthly payment for decoration is fixed every month, assuming that the first monthly payment is 2000 yuan, and the subsequent monthly payment is 2000 yuan.

The above are some contents of the decoration loan, I hope I can help you.