1. Why does a bank loan require a decoration contract?

If you apply for a renovation loan at a bank, you will naturally need to provide the bank with a renovation contract, as well as the business license and qualification certificate of the renovation company, which the bank may also require. In addition, the customer's personal ID card, local household registration book or temporary residence permit, bank statement and other income proof must also be prepared.

Of course, if you are not applying for a decoration loan, then there is no need to supply a decoration contract. Even if you use real estate as a mortgage for a loan, you only need to provide the house ownership certificate and the state-owned land use certificate.

2. Why does China Construction Bank loan not have a loan contract?

When applying for a loan at China Construction Bank, there is a loan contract. If the application method is the Internet and the contract is signed online, then the loan contract will be in electronic form. Sometimes the electronic contract will be ignored by the lender, thus thinking that the CCB loan does not have a loan contract. No matter what type of loan you apply for, China Construction Bank will provide a loan contract to the customer. You can rest assured of this

3. Why does the loan require a decoration contract?

First of all, that loan is called consumption Loans and renovations are your purpose, but one thing you don’t understand is that the loan money will not go to you, but will go directly to the renovation company

So you are thinking in the opposite direction. A decoration company will not suddenly rush to your home to decorate it after getting a loan from the bank. After all, you have already paid for the decoration. 4. What does the decoration loan interest rate of 2.5% mean?

The interest on decoration loans is generally calculated based on the loan amount, term and handling fee, and is then calculated in months or years. If the monthly interest rate is 2.5%, then the annual interest rate will reach a terrifying 30%. Although it is not beyond the legal range, it is still an ultra-high interest rate.

If the annual interest rate is 2.5%, it can be said to be lower than the provident fund loan interest rate. Under normal circumstances, only the bank's heavyweight customers can apply for such a low loan interest rate. For example, bank depositors with tens of millions of deposits, VIP customers, etc.