According to the bank loan conditions, the longest loan for house decoration shall not exceed 10 year (including 5 years) and the shortest one shall be half a year. Before applying for a loan, you need to comply with the relevant regulations of the bank. Lenders are generally required to have permanent residence in cities and towns or valid residence status, have a stable occupation and income, have good credit, and have the ability to repay the loan principal and interest on schedule.

Taking assets recognized by banks as collateral or pledge, or taking units or individuals with sufficient compensatory capacity as guarantors to repay the principal and interest of loans and bear joint and several liabilities; Renovation contract, decoration budget and related materials signed with the decoration enterprise approved by the competent department.

Benefits of renovation loans

1, with freer cash flow.

Borrowing money for decoration means more debt and expanding your cash flow, which means that you have enough liquidity to start it when there are difficulties in the future. If the whole renovation means that you take the initiative to tighten cash flow, then the pressure is even greater. At this time, applying for a decoration loan will relieve the pressure.

2. More property income.

The bank decoration is very cheap in stages, and the monthly interest rate is as low as 0.25%, which is lower than the provident fund mortgage. Loan decoration means that you can borrow hundreds of thousands of very cheap funds from the bank at the lowest cost to complete the dream decoration effect and increase your property income. Such a cheap loan may only be available during renovation, so there is no reason to waste it.

3. Consume in advance and enjoy in advance

After buying a house, I feel that my wallet has been hollowed out, and there is nothing I can do in the face of a blank house. The money is not enough to decorate the budget, so we can only postpone the decoration. Otherwise, I will borrow money from my relatives and friends. It is one thing to borrow or not. I owe not only money, but also a debt of gratitude. Choosing a loan to decorate will save these troubles, enjoy it in advance and decorate it in advance.

4, the decorative effect is good

If you have 200,000 cash, you may only consider spending 65,438+00-65,438+05,000 on renovation, as long as you can live after renovation. If you choose a loan, your decoration budget may be15-200,000 or even more than 200,000. The purpose is not only to live, but also to be healthy, environmentally friendly and pleasing to the eye, which is the ideal home improvement effect.