How is the decoration loan interest rate calculated?
The interest of decoration loan is generally calculated according to the loan amount, service life and handling fee, and then calculated on a monthly or annual basis. If it is a monthly interest rate, then the calculated annual interest rate will reach a horrible 30%. Although it is not beyond the legal scope, it is also an ultra-high interest rate.
If it is the annual interest rate, it can be said that it is lower than the provident fund loan interest rate. Under normal circumstances, only the heavyweight customers of the bank can apply for such a low loan interest rate. For example, banks have tens of millions of depositors and VIP customers.
If the borrower's annual loan interest rate is calculated, then the loan for five years is 654.38+10,000 yuan. Monthly principal repayment100000/512 = yuan, and monthly handling fee 100000* yuan, so the total monthly repayment is RMB. In this way, the annual handling fee is 3000 yuan, which is 15000 yuan in five years.
If the borrower wants to apply for a lower loan interest rate, in addition to improving his personal qualifications, he can also apply for a mortgage decoration loan. Generally, the collateral for mortgage decoration loans is mostly houses. Because houses are goods with greater value-added, the amount of loans that can be applied for is high and the loan interest rate is low.
In case of pledge, the maximum loan amount shall not exceed 90% of the value of the pledge right certificate. If there is a guarantor, the loan amount shall be determined according to the credit rating of the borrower or guarantor, and the maximum amount shall not exceed 600,000 yuan.
The above is the sharing of "How to calculate the interest rate of decoration loan", hoping to help everyone!