Matching principal and interest repayment method The borrower repays the loan principal and interest in equal amount every month. In this way, interest accounts for a high proportion in the initial repayment, and the principal is relatively small. Later, with the gradual reduction of monthly interest expenses, the returned principal will gradually increase. For example, get a decoration loan from China Construction Bank 10000 yuan, with an interest rate of 5%, and repay it in 12 installments. The monthly repayment is 856.07 yuan, and the interest in the early stage accounts for a large proportion of the repayment, and then it is reduced by stages, and the total principal and interest is 65,438+00,272.90 yuan. Average capital repayment method borrowers repay the same amount of loan principal every month, and the interest decreases with the principal month by month, and the monthly repayment amount also decreases month by month. For example, I borrowed from China Construction Bank 10000 yuan for decoration, and the interest rate was 5%. I repaid it in two installments of 12, and the repayment amount in the first month was 875.00 yuan. After that, the repayment amount in each installment decreased by 3.47 yuan, and the total principal and interest was1270.83 yuan. Comparing the two methods, under the condition of the same loan time, the interest paid by the equal principal and interest repayment method is higher than that by the average capital repayment method. The average capital repayment method has a great repayment pressure at first, and then it will gradually decrease, which is suitable for borrowers with strong repayment ability at present, and the repayment amount of equal principal and interest in each period is the same, which is suitable for borrowers with weak repayment ability at present.
Second, what are the common decoration loan methods?
1. Where can I get a bank mortgage loan?
1. 1
Real estate. Can produce bank mortgage loans, such as personal housing, family shops. With real estate mortgage loan, it is estimated that the loan can reach 70% to 80% of the estimated price.
1.2
Third, how to collect the decoration loan fee?
According to the regulation of decoration loan of China Construction Bank, the handling fee rate varies according to the number of periods.
12 (one year) 4%; 24 issues (biennium) 8%; 36 issues (three years) 12%. According to the local CCB policy, there is a slight difference.
The maximum loan amount of a single borrower shall not exceed 6,543,800 yuan, and the longest term shall not exceed 5 years. The lowest interest rate should rise by 654.38+00% on the basis of the benchmark interest rate, and the interest rate of ordinary customers generally rises by about 654.38+05%.
Fourth, how to borrow the decoration loan? What channels can I apply for?
Decoration loans have become very common. Generally, when decorating, apply for loans from banks or housing accumulation funds. What is the specific process?
How to borrow a decoration loan?
Method 1: Housing provident fund renovation loan
Take Minsheng Bank as an example. Individuals who pay the provident fund 1 year or more and pay 500 yuan or more every month can apply for a credit loan, which can be used for decoration, without mortgage, and the loan interest rate is low. It is a good loan method.
How to handle it: individuals must meet certain requirements before they can apply to the bank.
Method 2: credit card installment payment
With the popularity of credit cards, many people will choose credit cards in stages to meet their consumption needs when buying a car or decorating.
How to handle it: the decoration company and the bank have cooperation and can only apply if they meet this condition.
Method 3: mortgage loan
Taking real estate or car as collateral can also be used for loan approval. The biggest advantage: the handling fee is cheap and the loan interest rate is low.
If you apply: you need to take the real estate as collateral, and the procedures are complicated and the cycle is long.
Method 4: E-commerce decoration loan
The rise of e-commerce also extends to the field of loans. Now there are special e-commerce decoration loan products on the market. Simple and convenient procedures, suitable for young people.
How to handle it: Apply in official website. It is not popular all over the country.
Method 5: Consumer loan
Simple audit and quick lending have become the first choice to solve the capital demand. Decoration is one of the uses. The range of independent choice is large, but the handling fee and loan interest rate are high.
How to handle it: the salary is up to standard and the personal credit is good. All major banks and small loan companies have this kind of business.
What are the application materials for house loan decoration?
Application materials:
(1) Original and photocopy of legal identity documents (resident identity card, household registration book or other valid residence documents);
(2) The name on the borrower's house ownership certificate or house use certificate;
(three) the economic income certificate issued by the unit;
(four) the construction contract of the house renovation project;
(5) If it is a mortgage loan, it is required to have the property right certificate of the mortgaged property, the list of pledged property, the certificate that the disposer agrees to mortgage or pledge, and the appraisal report of the mortgaged property;
(six) the guarantor agrees to provide a written document of guarantee and the guarantor's credit certificate;
Application conditions:
(a) with permanent residence in cities and towns or valid residence status;
(2) There is a property right certificate or a certificate issued by the house property unit that the borrower has the right to use the house; If the property right of the house you want to decorate is your own, you must have a property certificate. If it is a unit house, you need to prove that you have the right to use it.
(three) a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan on time.