Its product features:
1. The repayment period is long, and the longest is 10 year.
2. The loan interest is low, and the minimum annual interest rate is as low as 3.6%.
3. The amount is high, up to 500,000.
Major banks do not need mortgage for renovation loans. If the audit is successful, they will generally lend money within 5 working days. Some banks can even apply for loans directly from customers' bank accounts through guarantee companies, even if they are renovated.
The following is a brief list of the basic product attributes of decoration loans of major banks in Wuhan:
China construction bank
Interest rate: 3% per annum; Duration: 5 years; Maximum amount: 300,000-500,000.
Hubei bank
Interest rate: 4.2% per annum; Duration: 10 year; Maximum amount: 300,000.
Nong store
Interest rate: the annual interest rate is 3%-3.6%, the term is 65,438+00 years, and the maximum amount is 300,000-500,000 yuan.
Hankou bank
Interest rate: 3% per annum Term: 10 Maximum amount: 500,000 yuan.
Bank of China
Interest rate: 3.24% per annum Term: 5 years Maximum amount: 500,000 yuan.
Zheshang Bank
Interest rate: 4.2% per annum; Duration: 4 years; Maximum amount: 500,000.
agricultural bank
Interest rate: 3% per annum; Duration: 5 years; Maximum amount: 500,000.
Postal bank
Interest rate: 3.6% per annum. Duration: 5 years. Maximum amount: 500,000 yuan
Minsheng Bank
Interest rate: 0.27%-0.3% per month. Duration: 5 years. Maximum amount: 500,000.
Industrial and Commercial Bank of China
Interest rate: the annual interest rate is 3.204%, the term is 5 years, and the maximum amount is 500,000 yuan.
This is the problem. If the interest rate is so low, the life span is so long, and there is no need for mortgage, and it is a pure credit bank product, is there a high demand for the income part?
When designing products, banks are different according to the type, location, personal credit, quota evaluation, unit nature, water requirements and processes of real estate. But basically the same, Hubei Bank should be the one with more relaxed audit conditions. The key is whether there is decoration or not. Here, Hubei Bank is taken as an example to illustrate the specific product requirements:
Hubei bank
Product attributes:
Interest rate: 4.2% per annum; Duration: 10 year; Equal principal and interest amount: 300,000 yuan.
Product requirements:
I. Property requirements
Mortgage houses, full houses and some villas do not need to apply for real estate licenses. Mortgage houses, relocated houses (relocation agreements and natural gas invoices can be provided), apartments with gas supply, welfare houses and housing reform houses can all be used in Wuhan.
Second, the applicant's age requirements
The borrower's age is above 18 years old, and the actual age by stages is not more than 60 years old (18-57 years old).
Third, the applicant's credit requirements.
Overdue for no more than six times within two years, there is no current overdue. There are no more than 7 credit card issuers, the total utilization rate of credit cards is no more than 70%, and there are no more than 3 non-bank loans. No more than two bank loan applications and credit card applications within one year are ignored. White families can.
Four, the applicant's unit and flow requirements
Compared with CCB and ABC, which require customers to have provident fund or social security, many willing customers are often turned away, while Hubei Bank is a little more relaxed!
Fifth, the process.
The first stage: internal audit of data collection, the second stage: face-to-face interview, the third stage: approval, the fourth stage: on-site inspection by the account manager, and the fifth stage: loan (one-time payment).
Compared with other banks, whether the house is a rough house or a fine decoration, it is a one-time payment, with faster aging and less processes!
Sixth, contract information
1. ID card and household registration book (married parties) 2. Marriage certificate (divorce certificate and divorce agreement or divorce judgment, marriage certificate and death certificate) 3. Credit information within seven days. The bank flow in the past six months. Proof of work income. Hubei bank savings card.
Final evaluation:
The biggest advantage of decoration is low interest rate, high amount and large operating space.
For example, the loan is 6,543,800 yuan, with a monthly interest rate of 0.3%.
The loan is 3 years, and the monthly payment is 3078 yuan.
The loan is 5 years, and the monthly payment is 1967 yuan.
Loan 10 year, monthly payment 1 134 yuan.
Final conclusion:
If the loan is 10 years, the longer the installment time, the less the monthly pressure. The most important thing is that you can repay the loan in advance without penalty interest. This is very helpful for those who have stable repayment ability but insufficient repayment ability. Even if the business fails, the monthly payment will be returned, so the monthly payment will not be returned after the business fails. After the overdue repayment is blacked out by the bank, all credit cards will be reduced, and the original capital chain will be cut off, which will eventually affect the original normal life!
In addition, it should be noted that if the decoration is true, and the real estate and personal qualifications are extremely high-quality, you can directly find a bank loan. However, if you want to get low-interest long-term credit loan funds through decoration loans, it is recommended to seek bank financial consultants, which is the most reliable way to avoid detours!
Related Q&A: How much is the interest on the renovation loan of CCB? Decoration loans refer to loans issued by banks or consumer finance companies. In principle, the amount of individual housing renovation loans issued by banks shall not exceed10.5 million yuan, and shall not exceed 50% of the total cost of renovation projects. The longest loan period shall not exceed 5 years. The loan interest rate is based on the fixed interest rate stipulated by the People's Bank of China. That is to say, the annual loan interest rate for less than five years (including five years) is 4.77%: the latest benchmark interest rate of the bank: the annual loan interest rate for 0-6 months (including June) is 4.35%, and that for June-1 year (including 1 year) is 4.35%, 1 year. 1. How to convert the loan interest rate? The loan interest rate is based on the benchmark loan interest rate published by the People's Bank of China, and fluctuates on the basis of the benchmark interest rate. The bank interest rate is the execution interest rate. The execution interest rate of each bank is different for different loan types and loan periods. Executive interest rate = benchmark interest rate ×( 1+ interest rate floating value). The floating range is between 0.5 and 2 percentage points. Second, what are the conditions for personal loans? When applying for a personal loan, the bank will review your personal qualifications and the authenticity of all the information. Specific conditions: the borrower's ID card, which is necessary. Good credit record. Personal qualification and financial proof, for example, if this person has a full vehicle under his name, he can make a vehicle mortgage loan or credit loan to the bank; If the borrower has all the real estate under his name, he can apply for a mortgage loan; In addition, there are many types of loans. The purpose of the loan is because the CIRC stipulates that all loan funds cannot be used for stock trading, wealth management, house purchase, etc. So the bank must have a formal purpose to lend you money. It is also the most important point, that is, good repayment willingness and repayment ability. As far as bank loans are concerned, all directions of bank investigation will eventually point to customers' repayment ability and willingness. If the customer has no willingness or ability to repay, the bank will not lend you money. Nowadays, this kind of social loan, whether it is buying a house or a car, doing business or personal consumption loan, is a very common thing for people. In short, loans are ubiquitous in people's lives. What conditions and procedures are needed for personal loans have a lot to do with your personal situation. Related Q&A: Is it true that the annualized interest of the renovation loan of CCB is only 3%? At present, the bank's loan interest rate is relatively low, but no matter how low, normal commercial loans can basically reach more than 5%. For example, at present, everyone who goes to the bank to apply for a mortgage is basically above 5.2%.
Because of this, many people suddenly see that CCB has a renovation loan with a 3% interest rate. Many people find it incredible, and some even think it is completely impossible.
First of all, I can tell you for sure that CCB does have a decoration loan with a monthly interest rate of only 0.25%.
However, in the product introduction of CCB, it is not called interest, but called handling fee, and the monthly handling fee is 0.25%. As for the handling fee, the actual situation of different customers is different, the term is different, and the interest rate is different. In general, it is generally between 0.25% and 0.33%.
The annualized interest rate converted from a monthly interest rate of 0.25% is only 0.25%× 12=3%, which is really low.
However, we must understand a concept. The repayment method of this decoration loan is that the principal and interest remain unchanged every month.
For example, if you borrow 654.38 million yuan for five years, that is, 60 installments, then the monthly principal is 1667 yuan, the monthly handling fee is 250 yuan, and the monthly repayment is 19 17 yuan.
In this way, the annualized interest rate of 3% seems to be no problem, but in fact the real interest rate is much higher than 3%.
Because everyone is paying back the principal every month, that is to say, the principal is getting less and less, and everyone occupies less and less bank funds, but the bank still collects interest according to the principal of 65,438+10,000 yuan, which is invisible. The interest actually paid by everyone is higher than 3%.
For example, if you borrow 654.38+10,000 yuan, you can borrow it for 5 years and repay the principal 1.667 yuan every month. In the first four years, you have to pay back the principal of 800 16 yuan, which is equivalent to the remaining principal of the last year 19984 yuan, but the handling fee you have to pay in the last year is 250 yuan × 12 =.
Simply calculate, if you look at the actual utilization rate of funds, the actual interest rate of CCB decoration loans is much higher than 3%.
Sure, what's the real interest rate? This is a complicated calculation method, but it can still be calculated by formula calculation.
For example, the monthly interest rate is 0.27%, and the five-year nominal interest rate is only 3.24%, but the real interest rate should be 6.07%;
If the monthly interest rate is 0.33% and the loan term is 6 years, the nominal interest rate is only 3.96%, but the real interest rate is 7.29%.
It can be seen that the interest rate of about 3% for the renovation of CCB is not the real interest rate, and the real interest rate should be about 0.8 times of the nominal interest rate of 65438.
Of course, this interest rate is not very high as a whole. Even if the annualized interest rate reaches 6%, it is very cheap compared with some small loans outside, even compared with some online loans such as loans and micro-loans. This interest rate is only about 1/3 of that of loans and micro-loans, so the renovation team of CCB is still very cost-effective.