Legal analysis: not necessarily. Foreign accounts can also apply for loans from banks. When applying for a loan from a bank, the bank has strict requirements for the borrower. In addition to the basic personal credit information and work income, the borrower also needs to have a fixed local address and residence certificate. If the borrower meets the relevant loan requirements, even foreigners can get bank credit loans.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 157 After a civil juristic act is invalid, revoked or deemed invalid, the property acquired by the actor as a result of the act shall be returned; If it is impossible or unnecessary to return it, it shall be compensated at a discount. The party at fault shall compensate the other party for the losses thus suffered; If all parties are at fault, they shall bear their respective responsibilities. Where there are other provisions in the law, those provisions shall prevail.

Article 552 Where the third person agreed with the debtor to join the debt and informed the creditor, or the third person indicated to the creditor that he was willing to join the debt, and the creditor did not explicitly refuse within a reasonable period, the creditor may request the third person to bear joint and several debts with the debtor within the scope of the debt he is willing to bear.

Article 680 usury is prohibited and the loan interest rate shall not violate the relevant provisions of the state.

2. Can foreigners get loans from local banks?

Usually, when applying for a loan from a bank, the bank has strict requirements for the borrower. In addition to the basic personal credit information and work income, the borrower also needs to have a fixed local address and residence certificate. If the borrower meets the relevant loan requirements, even foreigners can get bank credit loans. In addition, some banks have certain restrictions on borrowers' accounts. It is best for borrowers to go to several banks to understand and compare before applying for loans.

3. Can foreigners get loans from local banks?

As long as there is no problem with qualifications, you can go to Wuhan Bank for a loan.

4. Can foreign houses be decorated locally?

Decoration loans are personal consumption loans for home improvement, and banks and consumer finance companies support applying for such loans. The following are the basic application conditions for decoration loans:

1. If you have a local permanent residence, you can't apply for a decoration loan in a local bank for a foreign residence.

2. Legal and valid identification, such as second-generation ID card and passport.

3. Have a proper occupation and stable income, and have certain repayment ability.

4, can provide proof of assets, such as bank bills, social security payment, tax payment vouchers, etc.

5, the new purchase of housing sales contracts, purchase invoices, or the original housing renovation should provide proof of housing ownership.

6. Other conditions stipulated by the lending institution.