Decoration loan, also known as home improvement loan, refers to the personal credit loan launched by banks or consumer finance companies for the purpose of family housing decoration.

At present, there are two kinds of renovation loans that can be applied for, one in stages, as follows: 1. Applying for personal credit loans for decoration credit loans is unsecured, but more than half of the credit loan products on the market have higher requirements for consumers, or the threshold for asset certification is higher, or people in specific industries, VIP customers and senior managers of the company can apply, so it is necessary to strictly investigate the details of the applicant's work nature, industry, income status and so on.

Consumers prefer personal credit loan products of banks such as Bank of Ningbo, Bohai Bank, Standard Chartered Bank and Citibank. The credit loan amount of these banks is generally 5-8 times the monthly income, and of course the interest rate will be higher.

2. Decoration loan of personal consumption loan The consumption loan here refers to the mortgage loan with certificate, that is, the consumption loan applied for by real estate mortgage.

As many banks are engaged in this business, consumers have a relatively large choice.

However, banks have different requirements for mortgaged real estate in terms of house price, house age and real estate area. Consumers must do their homework before applying.

If an individual owns one or more properties, he can try to apply, not only to get more loans, but also to have a longer term.

However, the specific loan amount depends on the bank's review of consumers' personal qualifications and real estate status (geographical location, house price, real estate area and house age).

3, home improvement staging Some banks have launched home improvement staging business in order to better meet the needs of consumers, targeting people who live in large and medium-sized cities, just have a new house, have no money to decorate, and have a good credit record.

The upper limit of the general quota is 6.5438+10,000-200,000, and the maximum installment quota of a single product is 500,000.

However, it should be noted that the applicants should be civil servants, teachers, full-time employees of banks, and middle and senior managers of companies with registered capital of more than 30 million.

The general stage of home improvement is 12 months, 24 months, and the longest is 36 months.

For the list of domestic banks that can apply for home improvement by stages, please check the personal loan product selection of Easy Loan China in 2009.

Applying for home improvement by stages will also be subject to certain restrictions, that is, the services and products selected by consumers must be cooperative merchants of banks. If the selected merchants are not among the cooperative merchants of home improvement by stages, they cannot apply for staging.

With prerequisites, what other conditions do applicants need? Real estate! As mortgage guarantee, you need to buy real estate license or real estate sale or pre-sale contract, house purchase certificate, bank loan contract, etc.

Consumers must be clear about the various rules of bank home improvement staging, such as credit limit and consumption limit, repayment problem, liquidated damages and other issues.

Once you apply for home improvement by stages, you should also pay attention to product quality and after-sales service. After all, once the money is given, it is easy to solve the quality problems in the decoration process in time.

4. In addition to traditional bank loans, loans from consumer finance companies are also one of the options.

Consumer finance companies provide personalized financial products for commercial banks and other customers. In fact, this kind of consumer credit has existed in foreign market economy for more than 400 years, and the relevant laws and regulations on consumer credit have been quite perfect. Different credit has different targeted laws to regulate it.

However, China's consumer credit laws are not perfect and the market maturity needs to be improved. After being transplanted from abroad to China, consumer finance companies need to continue to explore ways in concrete practice.

Consumer loans (durable consumer goods and general consumption purposes) provided by consumer finance companies shall not exceed 5 times of personal monthly income.

The guarantee method is unsecured and unsecured, so consumers do not have to worry too much about the guarantee method.

Due to the inherent advantages of fast loan approval and short loan cycle, consumer finance companies have largely made up for the slow approval of bank loans.