Generally, the process of handling decoration loans only takes about a week, and it will not exceed half a month at most. Therefore, it is best for users who want to apply for decoration loans to apply for loans in advance according to their own decoration plans, so as not to affect the renovation progress of the house because of insufficient funds.

What are the procedures for the decoration loan?

1. Fill in the personal housing renovation loan application form.

2. Provide valid certificates and photocopies (valid residence certificates such as resident ID card and household registration book).

3, home decoration project contract.

4. Proof of economic income recognized by the bank.

5. Property right certificate, house sales contract and pre-sale contract of commercial housing.

6. Mortgage guarantee materials: list of collateral, ownership certificate (commitment letter of property owner) and mortgage evaluation report.

7. Other necessary information. Sign a personal housing loan contract with the bank. After the approval of the bank, transfer the money directly to the designated account, and you can use the money to decorate the house. Don't forget to pay the loan.

Is the interest on renovation loan high?

The interest rate of decoration loan is not high, and the bank's loan interest rate is the same, but the loan interest rate fluctuates according to the policy of the loan bank. The benchmark interest rate of current loans is as follows: 4.60% for loans within 6 months (including 6 months), 4.60% for loans from 6 months to 1 year (including 1 year) and 5.00% for loans from 1 to 3 years (including 3 years).

1. The renovation loan interest rate of CCB shall be implemented according to the loan interest rate for the same period stipulated by the People's Bank of China, and may fluctuate within the range stipulated by the People's Bank of China, generally fluctuating by 20-30% on the basis of the benchmark interest rate of the central bank. Specific standards shall be implemented in accordance with local specific regulations. At present, the loan interest rate is 4.35% within one year, 4.75% for one to five years (including five years) and 4.90% for more than five years.

2. renovation loan interest: 6. 15%

Young people with extremely poor economic conditions will naturally choose decoration loans after buying a house, but their wages are basically small after deducting monthly living expenses and various miscellaneous fees, so the loan period will be longer. So if the loan term exceeds five years, the required interest is about 6. 15%.