China Industrial and Commercial Bank Decoration Loan is a special loan issued by the bank to meet the borrower's decoration needs. The loan interest rate is based on the benchmark interest rate of the central bank loan and can fluctuate according to the actual situation of the applicant.

According to many people who have applied for the renovation loan of ICBC, the lowest loan interest rate can be as low as 3%, and some people have applied for 3.5% and 3.6%, which are also relatively low and the loan is cost-effective.

However, if people with poor credit conditions apply for renovation loans from ICBC, the interest rate may also rise 10%-20%, as high as 6%.

Second, the decoration loan fee and interest?

You can't calculate interest without knowing the monthly interest rate. The monthly interest rate of renovation loans of banks all over the country fluctuates around 0.25%, and the actual annualized rate is around 6%.

For your convenience, I assume that the monthly interest rate of the decoration loan applied for is 0.25%, and the loans are 6,543,800 yuan, 200,000 yuan and 300,000 yuan respectively, depending on the interest rate.

The loan is 6,543,800 yuan, with a monthly interest rate of 0.25%;

Monthly interest = loan amount × monthly interest rate = 65438+ million× 0.25% = 250 yuan;

Annual interest = monthly interest ×1February = 250×12 = 3,000 yuan.

The loan is 200,000 yuan with a monthly interest rate of 0.25%;

Monthly interest = loan amount × monthly interest rate = 200,000× 0.25% = 500 yuan;

Annual interest = monthly interest ×1February =500× 12=6000 yuan.

3. What is the interest rate of the decoration loan?

Take ICBC as an example. The annual interest rate of ICBC's loan decoration fund is 3.58%, and the longest repayment period is 5 years. The interest rate of the 24th installment is 7.05%, the record of the 36th installment is 10.43%, the interest rate of the 48th installment is 13.48%, and the interest rate of the 60th installment is 16.78%. Each local policy is different, and the local bank shall prevail. Application conditions for bank decoration loan: 1, with local permanent residence and legal and valid identification. 2. Have a proper occupation and stable income, and have the ability to repay the principal and interest of the loan at maturity. 3. The borrower can provide relevant asset certificates, bank statements, tax bill certificates, etc. 4, the newly purchased residential decoration should provide housing sales contracts, purchase invoices and other information. (including valid ID card, permanent residence certificate issued by neighborhood committee, personal identity and permanent residence certificate; Proof of professional and personal income issued by the unit, proof of stable work for more than six months in a row, and proof of my repayment ability; Real estate license, used for real estate mortgage; Bank deposit statements, water and electricity tax bills and other certificates to prove their credit quality; Materials that prove the purpose of the loan, such as the decoration project contract signed with the decoration enterprise and the purchase order of decoration materials; A copy of the business license and qualification certificate of the decoration enterprise, which proves whether the partner is within the prescribed scope; Other conditions required by banks or financial institutions) 5. Other conditions stipulated by the cooperative organization. For more information about the loan renovation interest rate, please go to:/ask/1a2e2f1615837596.html? Zd view more content

IV. 20 16 Calculation of interest rate of ICBC's renovation loan

7.8%, with one-time interest deduction and monthly principal repayment.