Shop investment is also a hot investment method in recent years. Generally, shops with large passenger flow and strong business atmosphere have more appreciation potential, and like houses, they can also borrow money to buy shops. What are the loan terms for shops? The conditions are as follows.

What are the loan terms for shops?

First of all, because shops are not personal housing, they cannot use provident fund loans, so they can only choose a way of commercial loans. Commercial loans need to meet the following conditions: the borrower needs to have full capacity for civil conduct and be able to provide valid identity documents to prove his identity; Need to provide proof of the borrower's income to prove that he has the ability to repay the loan principal and interest; Personal credit records remain good; There is a commercial housing contract or agreement, and proof of shop purchase is required; Need to provide a down payment certificate of more than 50% of the total house price of the purchased house; Meet other relevant conditions for bank store loans.

The loan interest of shops is generally calculated according to the commercial loan interest rate, and the commercial loan interest rates of banks fluctuate on the basis of the benchmark loan interest rate of the People's Bank of China. The loan term is generally between 5 years and 10 years, and the repayment method is also very flexible. If the loan term is within 1 year, the principal and interest of the loan can be paid off in one lump sum or repaid monthly; if it is within 1 year to1year, it can be repaid monthly.