The specific interest rate of decoration loan is actually related to many factors, such as the city where it is located, the bank it chooses and so on. The interest rate of decoration loan products of banks generally fluctuates on the basis of the benchmark interest rate of the central bank, and different banks set interest according to this system. The annual interest rate of the loan term is about 5.6% for less than one year and about 6% for one to five years. If the loan term exceeds five years, the required interest is about 6. 15%.
How many years can I borrow a decoration loan?
I. Detailed Rules for Decoration Loan of China Construction Bank
1. Loan target: 18 to 60 years old China citizens with full civil capacity;
2. Loan amount: the starting point of the loan is RMB 5,000 (including RMB 5,000), and the maximum is RMB 654.38+RMB 500,000 (including RMB 654.38+RMB 500,000);
3. Loan term: the shortest half year and the longest not exceeding 5 years (including 5 years);
4. Loan interest rate: the loan interest rate for the same period stipulated by the People's Bank of China shall apply;
5. Guarantee method: pledge, mortgage and qualified third-party natural person guarantee recognized by CCB.
Two. ICBC Decoration Loan Rules
1, with urban permanent residence or valid residence status;
2. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule;
3. Take the assets recognized by the bank as collateral or pledge, or take the units or individuals with sufficient compensatory capacity as guarantors to repay the loan principal and interest and bear joint and several liabilities;
4. There is a house renovation contract, decoration budget and related materials signed with the decoration enterprise approved by the competent department;
5, with no less than 50% of the total decoration budget of its own funds, and before the use of loans into the project construction;
6. Loan term: the longest loan term shall not exceed 10 year (including 5 years);
7. Other conditions stipulated by the bank.
The renovation loan of CCB is 654.38 million yuan, and the repayment period can be chosen by itself.
The renovation loan of CCB is 654.38 million yuan, and the repayment period can be chosen by itself: the shortest loan period is half a year, and the longest loan period cannot exceed 5 years.
The decoration loan of China Construction Bank is a guarantee loan for individual customers to decorate their own houses. The starting point of the loan is 5,000 yuan, with the maximum not exceeding 1.5 million yuan. The shortest loan period is half a year and the longest is no more than five years. If the renovated house is a non-owner-occupied house, the loan period shall not exceed 3 years at the longest. Therefore, it is completely feasible to apply for a renovation loan of 654.38 million yuan within five years.
The loan interest rate of China Construction Bank shall be implemented according to the loan interest rate for the same period stipulated by the People's Bank of China, and shall fluctuate within the prescribed scope according to local policies and conditions. Therefore, the loan interest rates in different regions may be different.
If calculated according to the benchmark interest rate of the central bank, the annual interest rate of five-year loans is 4.75%.
Calculated by the equal principal and interest method, the loan is 654.38+100000 years. Monthly repayment amount = [loan principal× monthly interest rate× (1interest rate )× repayment months ]=[( 1 interest rate )× repayment months-1] = {100000× (4.75%/65438).
According to the method of average capital, the loan is 65,438+0,000,000 years, and the monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated repaid principal amount) × monthly interest rate, so the amount to be repaid in the first month = (65,438+000,000 ÷ 60).
The loan of CCB is 654.38 million yuan. What is the interest for ten-year repayment? How much should the loan be repaid?
The interest is 26,692.4 yuan, which should be repaid with the loan126,692.4 yuan.
Matching principal and interest method: loan principal: 65,438+000,000, assuming annual interest rate: 4.900%, loan term: 65,438+00 years, monthly repayment principal and interest amount: 65,438+0055.77 yuan, and total repayment amount: 65,438+026,692.4 yuan.
The interest paid in 1 month is: 408.33; The first 1 month principal repayment is: 647.44; Since then, the monthly interest repayment amount has decreased and the principal has increased. (without considering the adjustment of interest rate in the middle). According to the current interest rate, the one-year fixed deposit rate is 3.25%, and the annual interest rate is 65,438+10,000 yuan. This interest is stipulated by the People's Bank of China and implemented by all banks. The difference is that some banks will give depositors some extra fees in order to complete the deposit task and attract deposits. I suggest you ask the business people of several banks more.
1. There are five repayment methods:
1. Equal repayment of principal and interest: that is, the sum of loan principal and interest is repaid by equal monthly repayment. Most banks have adopted this method for housing provident fund loans and commercial personal housing loans. So the monthly repayment amount is the same;
2. average capital Repayment Method: A repayment method in which the borrower repays the loan in every installment (month) and pays off the loan interest from the previous trading day to the repayment date. In this way, the monthly repayment amount decreases month by month;
3. Pay interest and repay the principal on a monthly basis: that is, the borrower repays the loan principal in one lump sum on the loan maturity date [loans with a term of less than one year (including one year)], and the loan bears interest on a daily basis, and the interest is repaid on a monthly basis;
4. Repay part of the loan in advance: that is, the borrower can repay part of the loan amount in advance when applying to the bank, which is generally an integer multiple of 1 1,000 or 1 1,000. After repayment, the lending bank will issue a new repayment plan, and the repayment amount and repayment period will change, but the repayment method will remain unchanged, and the new repayment period shall not exceed the original loan period.
5. Repay all the loans in advance: that is, the borrower can repay all the loan amount in advance when applying to the bank. After repayment, the lending bank will terminate the borrower's loan and handle the corresponding cancellation procedures.
2. What are the conditions for bank loans?
1. The loan applicant has full capacity for civil conduct. On the maturity date of the loan, the applicant is over 18 and under 65, and has a permanent residence or valid identification in the town where the loan bank is located. The applicant has stable income, good credit and the ability to repay the loan.
2. After the consumer intention is clear, the relevant consumer contract is signed, and the borrower's approval guarantee is provided, and the loan bank needs to review its loan conditions.
Can CCB really borrow 654.38 million yuan for decoration?
Of course.
Requirements:
1. Loan target: The home improvement loan of CCB is applicable to China citizens who have full civil capacity and need decoration financing, and are over 18 years old and under 60 years old.
2. Guarantee method: CCB's home improvement loan provides a variety of guarantee methods, which can be selected according to its own needs, mainly including mortgage, guarantee, pledge and credit extension.
3. Loan amount: the loan amount of a single family does not exceed 6,543,800 yuan, in which the renovated house has been loaned and the repayment has been normal for more than 2 years, the maximum credit can be 300,000 yuan, and the specific loan amount does not exceed 30% of the house value.
4. The longest repayment period of the loan is no more than 5 years, and the repayment method is flexible. You can choose the equal principal and interest method, the average capital method, the one-time principal and interest payment method at maturity, and any principal repayment method with interest paid on schedule.
5. The loan interest rate of CCB's home improvement loan is implemented according to the central bank's loan interest rate for the same period, which can fluctuate up and down within the prescribed range, usually not too high.
Extended data:
Precautions:
1. Issue the loan purpose certificate. In order to ensure that the borrower will use the loan funds for legal and compliant purposes, the bank usually requires the borrower to issue a certificate on the purpose of the loan, which can be used for special purposes. Therefore, when applying for renovation loans, borrowers also need to provide relevant renovation contract or agreement.
2. Get into the habit of paying back on time. After obtaining the loan funds, the borrower should also keep in mind the repayment date, form the habit of repaying in full and on time every month, and avoid overdue repayment, resulting in bad credit.
3. Prepare loan information in advance. When applying for a loan, in addition to requiring the borrower to meet the relevant loan conditions, the borrower is also required to provide relevant loan information, which generally includes personal identity certificate, income certificate, work certificate, residence certificate and renovation contract. The borrower can make preparations in advance to avoid mistakes and omissions in the loan process, which will affect the loan approval.