Home improvement loans need to be cautious. The ma

2022-07-22
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[] for many families, especially newlyweds, after paying a large amount of house money, the problem of home decoration funds must be a big problem: ask relatives and friends to borrow, sometimes they can't open the mouth; Save a little money, and I'm sorry to buy this house. At this time, you might as well consider a home improvement loan

◆ unsecured and unsecured attract customers

when it comes to home improvement loans, people must first think of banks. Indeed, at present, many banks provide such services, especially in foreign banks, unsecured and unsecured credit loans are more attractive, such as Standard Chartered Bank's cash lender and Citibank's happy time loan. According to the personal center of Standard Chartered Bank, the loan provided by Xiandai Pai can be applied for as long as it has a stable career and a pre tax monthly income of more than 3000 yuan. The minimum amount of application is 8000 yuan and the maximum is 300000 yuan. The loan period is 6 months, 1 year, 2 years, 3 years and 4 years, and the interest rate is between 7.9% and 9.9%. Citibank's happy hour loan can be loaned up to 500000 yuan, with an interest rate of 8.8% and a term of 6 months to 4 years. In addition, happy time loan implements risk pricing for different customers, floating up and down 7%-10% on the basis of the benchmark interest rate of 8.8%

home improvement loans of Chinese banks are generally classified as personal consumption loans. The procedures for handling home decoration loans are relatively complex. In addition to the owner's ID card, household register and real estate certificate, the income certificate issued by the owner unit is also required, and the monthly repayment amount is required to not exceed half of the owner's income. At the same time, the evaluation department should evaluate the house on site, combined with the decoration quotation and contract issued by the home decoration company, and then the bank can lend money, which is generally 60% of the evaluation amount. Even if the application for home decoration loan is successful, it will take 15-30 days to handle it. Taking the housing decoration loan of China Merchants Bank as an example, in addition to providing the necessary income certificate or mortgage (pledge) guarantee, the borrower must also provide the relevant home decoration contract or agreement signed with the home decoration company, and provide the information such as the house purchase and sale contract (original), house purchase receipt or invoice for the newly purchased housing decoration; If the original residence is redecorated, the certificate of house ownership shall be provided. After the borrower completes the relevant procedures, CMB will release the loan to the borrower's personal account and transfer the loan to the relevant payee's account according to the borrower's entrustment. Jiazhuang6.com

◆ the management fee is not a small number

in fact, in addition to bank loans, some credit cards also provide such home decoration loan services. For example, China Construction Bank's long card credit card provides home decoration installment payment business (hereinafter referred to as home decoration installment). The cardholder applies to use his long card credit card (except business card, student card, supplementary card and guarantee card) to purchase goods or services at the home decoration merchant designated by China Construction Bank. After the bank's approval, the cardholder pays home decoration money through a dedicated installment POS machine at the home decoration merchant designated by China Construction Bank, and the corresponding transaction amount is divided into several periods on average, The cardholder shall make monthly repayment within the agreed period and pay a certain handling fee

in addition to China Construction Bank, home decoration launched by China Merchants Bank can be easily divided into ordinary retail and large home decoration. The quota range of ordinary retail is 3000 yuan to 50000 yuan; The amount of large home decoration ranges from 10000 to 100000 yuan, and some merchants also provide 6-month deferred repayment. Industrial Bank also provides special installment payment for home decoration. As long as the single consumption of high-quality home decoration merchants designated by the bank exceeds 5000 yuan, they can apply for 12 or 24 loans, up to 150000 yuan. Looking at the credit card loan business provided by the bank credit card, users need to sign a contract with the home decoration company designated by the bank. Although there is no interest when swiping the card, there is a handling charge. Jiazhuang6.com

what kind of home improvement loan to choose actually varies from person to person. Among them, the personal consumption loan launched by major banks should cost the least. However, due to its strict review, especially the need to provide the borrower with the relevant home decoration contract or agreement signed with the home decoration company, it is still difficult for those who are ready to carry out home decoration through this loan. Jiazhuang6.com

the application threshold for unsecured and unsecured credit loans is low, which is a shortcut for those who need loans urgently. However, when choosing such products, the key for consumers is to see the specific cost composition. In addition to charging the loan interest according to the regulations, a loan management fee will also be charged at 0.49% of the total loan principal at the time of monthly repayment. In terms of the one-year cash lending unsecured loan, in addition to the loan interest rate of 7.99%, a handling fee of 5.88% of the principal is required to be paid in one year, and the total interest and expenses is 13.87%. Although the current lending business is launching interest rate concessions recently, and the loan interest rate can be discounted by 85%, the total rate is also 12.595%. It should be pointed out that at present, the main products of consumer loans in the market, such as Huaqi happy time loan, Ping An Bank Xinyi loan, Bank of Ningbo white-collar connect, need to pay a handling fee. If the loan amount is large, it is not a small amount. Therefore, for people, when choosing these credit loans, they must consult the bank to know how much they have to pay when repaying

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