Are there any major changes in loan renovation interest rates in 2018? This is also a "hot social" topic. This is also a key question for young people who are trying to buy a home. Let's take a look at the changes in bank loan renovation interest rates.

Loan interest rate:

Annual project interest rate (%)

1. Short-term loans

Within one year (including one year) 4.35

2. Medium and long-term loans

One to five years (including five years) 4.75

Five years or more 4.90 [@ ]3. Provident fund loan interest rate annual interest rate

Five years or less (including five years) 2.75; According to the regulations of the People's Bank of China, more than five years 3.25

Bank loan interest rates are freely floating, so the loan interest rates of each bank will be different, and the loan interest will be more or less

Bank decoration loan application conditions:

1. Local permanent residence and legal and valid identity certificate;

2. Have a suitable occupation and stable income, and be able to repay the principal and interest of the loan;

3. The borrower can provide relevant asset certificates, bank statements, tax bill certificates, etc.;

4. When purchasing a new house, you should provide the house purchase and sale contract, house purchase invoice and other information (or proof of house ownership). House);

5. Other conditions.

Lenders generally provide the following materials to banks when applying for renovation loans:

1. A valid ID card, a resident’s residence permit issued by the neighborhood committee, proving their identity and fixed residence;

2. Work certificate issued by the professional unit, personal income certificate, and stable employment for more than six months (or provide monthly salary flow bill) to prove your ability to repay;

3. Real estate certificate (mortgage required), real estate mortgage;

4. Bank deposit slips, water and electricity bills, etc. to prove its credit quality;

5. "Decoration Contract" and "Contract for Purchase of Decoration Materials" and Signed by the decoration company to prove the use of the loan;

6. Copies of the decoration company's business license and qualification certificate to prove whether the partner is within the specified scope;

7. Required by a bank or financial institution other conditions.

Application principles:

Principle 1, the amount should be moderate

The loan amount is not high, the more the better, we must do our best. When applying for a personal housing loan, the borrower should correctly judge his current financial strength and repayment ability, and make a correct and objective prediction of his future income and expenditure in order to grasp his loan limit. Avoid putting great pressure on your future life.

Principle 2, choose a suitable loan bank

Choose a good loan bank for mortgage loans. Although there are many real estate designated banks or second-hand housing loan institutions that recommend loan banks, for borrowing money People, if you buy an existing or second-hand house, you can still choose your own loan bank.

When a developer or intermediary recommends a lending bank to you, you must ask if there are any other options. You need to know more about each bank's policies and services. An increasing number of mortgage banking services, more flexible personal finance services and a rich portfolio of services and products will be available.

Principle III. Choose the correct repayment method

There are basically two repayment methods: one is the equal principal and interest repayment method, and the other is the equal principal repayment method.

The advantage of the equal principal and interest repayment method is that the borrower can accurately grasp the monthly repayment amount and arrange family income and expenses in a designed way; while the equal principal repayment method is more suitable for early repayment ability. Strong and looking to return a lot of money in the early stages of repayment to reduce interest payments.

Principle 4. Mortgage loan application materials should be as true and detailed as possible

Banks generally require borrowers to provide proof of financial income when applying for personal housing commercial loans. For individuals, they should provide a true account of their personal occupation, position, and recent financial earnings. prove. Because if your income does not reach a certain level and you do not have enough ability to repay the loan, but you exaggerate your income level, you are likely to default during the early repayment period, and the false certificate confirmed by the bank you provided will make the bank give you . Trust levels are greatly reduced, which can affect your loan application.

Principle 5, insist on repaying the loan on time

The borrower must pay attention to whether his repayment account has sufficient funds before the agreed repayment date each month to prevent the bank from The bank was fined for his negligence. Don’t lose money and end up with a bad credit record in the bank because of your own negligence.

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