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Can I get a loan for decoration? How can I apply for a loan for decoration

We all know that when we are not well off to buy a house, we can choose bank loans and pay back the monthly payment. Can we also borrow money for decoration? This is really OK, so today we'll talk about decoration loans!

What is the definition of decoration loan?

Decoration loans, also known as home decoration loans, refer to personal credit loans launched by banks or consumer finance companies for the purpose of family housing decoration, that is, unsecured credit loans.

In principle, the single loan amount of individual housing decoration loans issued by banks shall not exceed 150000 yuan, and shall not exceed 50% of the total cost of decoration projects. At present, there are two types of home improvement loans and one credit card installment form that can be applied for, as follows:

1. Apply for personal credit loan to decorate;

2. Decoration loan of personal consumption loan. Consumer loans here refer to licensed mortgage loans, that is, consumer loans mortgaged and applied for with real estate;

3. Credit card home decoration installment;

4. In addition to the traditional way of bank loans, loans to consumer finance companies are also one of the alternative ways.

Application conditions for decoration loan

1. Have local permanent residence and legal and valid identity certificates;

2. Have a proper career and stable income, and have the ability to repay the principal and interest of the loan when due;

3. The borrower can provide relevant asset certificates, bank statements, tax receipts, etc;

4. For the decoration of newly purchased houses, the house sales contract, house purchase invoice and other materials shall be provided (or for the re decoration of the original houses, the proof of house ownership shall be provided);

5. Other conditions stipulated by the cooperative organization.

How to apply for decoration loan?

1. Handling channel: the borrower applies for personal decoration loan business through the branch of the bank that runs personal housing decoration loan business.

2. Handling process:

① When applying for housing decoration loan, the borrower must apply to the business outlet where the business is operated, fill in the application form, submit relevant materials and go through relevant guarantee procedures;

② After investigation, review and approval by the customer manager, the loan contract shall be signed after being submitted to the competent approval department for approval;

③ The customer manager handles the lending procedures and transfers the funds to the borrower's personal settlement account in our bank, and the customer can use the loan funds;

Precautions for decoration loan

1. Personal housing decoration loan is a loan issued by the bank to the borrower for the decoration of self owned housing. The housing decoration mentioned here refers to the engineering activities of using decoration materials to decorate and process the housing. That means the property must be owned by itself.

2. The special requirements of housing decoration loans are: Housing decoration contracts, decoration budget estimates and relevant materials signed with decoration enterprises approved by relevant departments; Some banks also require the owners to have their own funds of no less than 30% of the total decoration budget and invest in the project construction before using the loan.

3. According to the regulations of the bank, personal consumption loans are generally not allowed to withdraw cash. The bank will transfer the money to the account of the decoration company.

4. The loan term generally does not exceed 5 years.