How long is the general term of a CCB credit card decoration loan?
Many netizens left messages asking how long is the general term of a CCB credit card renovation loan? In fact, the CCB credit card renovation loan is also the credit card renovation installment. Let me introduce to you how long the term is generally.
How long is the general term of a CCB credit card decoration loan?
The CCB credit card renovation loan installment is zero interest. Applicants can choose to pay in 6, 12, 18, 24, 36, or 48 installments according to their own needs. The handling fee will be charged in one go or in installments, but the handling fee will be slightly different for different branches and different numbers of installments.
Among them, the 6th, 12th, 18th, 24th, 36th, and 48th period are each one month, which means that the CCB credit card renovation installments can be divided into half a year to four years. You can decide how long it will take to pay off the loan based on the installment amount.
For example, Ms. Zhang applied for renovation installments with a credit card at China Construction Bank. The total payment limit was 60,000 yuan. Her monthly salary income was 8,000 yuan. Based on the actual situation, she chose to pay 12 installments. Expect. That is to say, the principal that Ms. Zhang should repay every month is 5,000 yuan, plus the installment fee.
The above is a summary of the CCB credit card renovation loan period. I hope it will be of certain reference value to all of you.
You can apply for various credit cards quickly and safely.
CCB decoration loan repayment method
Equal principal and interest repayment method
The borrower repays the loan principal and interest in equal amounts every month. In this method, the proportion of interest in the early stage of repayment is relatively high, and the principal repayment is relatively small. In the future, as the monthly interest payments gradually decrease, the principal repayment will gradually increase.
For example, if you get a renovation loan of 10,000 yuan from China Construction Bank with an interest rate of 5 and repay it in 12 installments, the monthly repayment is 856.07 yuan. The interest in the early stage accounts for a large proportion of the repayment, and then it decreases gradually, and the total principal and interest is 10,272.90 yuan. .
Equal principal repayment method
The borrower repays the loan principal in equal amounts every month, and the interest decreases monthly with the principal, and the monthly repayment amount also decreases gradually. Decrease monthly. For example, I received a renovation loan of 10,000 yuan from China Construction Bank with an interest rate of 5, which was repaid in 12 installments. The first month's repayment was 875.00 yuan. After that, the repayment amount was reduced by 3.47 yuan in each installment, and the total principal and interest was 12,270.83 yuan.
Comparison of the two
Under the same loan period, the interest paid by the equal principal and interest repayment method is higher than that of the equal principal repayment method. However, the equal principal repayment method has a greater initial repayment pressure, which will gradually decrease later, and is suitable for borrowers with strong current repayment ability, while the equal principal and interest repayment method has the same repayment amount in each period, and is suitable for borrowers with weak current repayment ability. of borrowers.
Extended information:
CCB decoration installment: up to 500,000 special quota to easily realize your home decoration dream
What should I do if I am short of money after buying a house and have no money to decorate? At the end of 2016, with the birth of Erbao, Ouyang, a young man born in the 1980s, and his family moved into a new home. "After I bought this house, I needed working capital to expand my business, and I wanted to decorate the house better, but I didn't have enough money. So I learned that China Construction Bank had a renovation plan, so I decided to do it in installments," Ouyang said.
It turned out that just when Ouyang was struggling with the lack of funds for decoration, he accidentally learned from the WeChat group of community owners that he could handle the installment business of decoration. "I even paid it before applying for renovation installment, and the 'interest rate' is quite affordable.
When funds are tight, I personally am more accepting of credit card installment." From the perspective of a businessman , Ouyang felt that this "deal" could be done.
So Ouyang applied for renovation installments. A few days later, Ouyang's application was approved. "The whole application process is very simple, and the review is very fast."
Based on the house area, credit rating and other aspects, Ouyang obtained an installment quota of 200,000 yuan and received a special installment plan for decoration. debit card.
With this card, Ouyang can swipe his card to make purchases as long as he is at decoration-related merchants such as building materials, furniture, home appliances, etc., instead of being limited to a few specific cooperative merchants.
With the addition of the 200,000 yuan, Ouyang's renovation budget suddenly increased to 350,000 yuan, and he could transform the house from "simple decoration" to "fine decoration" according to his original vision. The renovation credit of 200,000 yuan was divided into 48 installments. Now, Ouyang's monthly repayment is about more than 4,800 yuan. Compared with taking out 200,000 yuan in cash at once, Ouyang is much less stressed.
Installation is also a way to manage finances
Do customers with good financial conditions need installment renovation?
Xiao Li, who was born in 1991, has just started working a few years ago. "The down payment for the house is 500,000, which is supported by my parents. I will be responsible for the monthly bank mortgage loan in the future."
Xiao Li, who comes from a well-off family, had never thought that he needed to apply for installment plans for the renovation of his house. During a business process, a CCB staff introduced him to the credit card renovation installment business. Xiao Li immediately submitted the application for applying for a CCB credit card and renovation installment plan. Apply. A few days later, Xiao Li received an approval quota of 300,000 yuan.
Renovation installments require on-site inspections to ensure the authenticity of the use of renovation funds. The first survey of Xiao Li's house was after the completion of the water and electricity project, and Xiao Li received the first loan of 100,000 yuan from the bank.
Now that the masonry work on Xiao Li’s house has been completed, CCB staff will come to conduct a second survey as scheduled. After the survey is approved, Xiao Li will receive the second payment of 200,000 yuan. .
The staff took photos with cameras at the gate of the community, the entrance of the building, the living room and other places to record the progress of the decoration. These on-site images will be used as important materials for the second loan review.
New ideas for asset planning
It is both a "help in times of need" and the "icing on the cake". For groups with urgent financial needs, decoration installments solve an urgent need; for groups with abundant funds, decoration installments provide a new financial management idea for the reasonable planning of family assets.
In a villa real estate in a certain city, Mr. Li, who is a businessman, also applied for the decoration installment from China Construction Bank. The actual area of ??the villa purchased by Mr. Li that needs decoration reaches more than 400 square meters.
To decorate such a large house according to Mr. Li's plan of medium to high-end, it is estimated that the entire decoration cost will be more than 1.2 million.
Since Mr. Li basically used all his funds for business turnover at that time, he chose the CCB decoration installment plan and applied for a decoration quota of 500,000 yuan, which was repaid in 48 installments. Now, Mr. Li repays more than 12,000 yuan every month, which has relieved the pressure on the required working capital from a large one-time payment to a considerable extent.
Renovation installments make it easy to realize your home decoration dream
The decoration installment business of CCB Long Card Credit Card is a personalized product specially designed for customers with decoration needs, and can meet your home decoration needs in a timely manner.
The CCB Long Card credit card decoration installment can have a special installment amount of up to 500,000 yuan; up to 48 installments can be selected, and the principal is repaid in equal monthly installments; the installment burden is easy and light, and the best rate is 15% off; It can be used by decoration and home appliance merchants, and you can use it anytime and anywhere; the application procedures are simple, no mortgage, no guarantee, one-stop channel processing, fast approval, and convenient payment.