Industrial Bank decoration loan

2022-07-22
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The decoration loan of industrial bank refers to the loan issued by industrial bank to the borrower for the decoration of self use housing (commercial housing). This paper introduces the application conditions, required materials, the amount and duration of the decoration loan, the expected annualized interest rate and the repayment of the decoration loan of Industrial Bank

I. conditions for decoration loan application

1. The applicant is a natural person with full civil capacity, and has a permanent residence at the location of the handling bank or obtained a legal residence certificate

2. Stable income, the ability to repay the loan principal and interest on schedule, and good credit

3. The personal housing (commercial housing) to be decorated is located at the location of the handling bank

4. There is a decoration budget provided by the decoration company

5. Be able to provide guarantee recognized by industrial bank

6. Other conditions stipulated by industrial bank

II. Materials required for decoration loan

1. Application form for personal loan of Industrial Bank

2. The original and copies of valid identity documents and valid residence certificates

3. For the income certificate of the current unit, the private business owner should provide the recent tax payment certificate

4. Housing (commercial housing) decoration budget and decoration contract

5. Guarantee materials

6. Other materials that industrial bank deems necessary

III. details of decoration loan

1. Decoration loan amount

the maximum single loan amount of personal housing (commercial housing) decoration loan shall not exceed 70% of the total decoration budget, of which the maximum limit of personal housing decoration loan shall not exceed 500000 yuan

2. Term of decoration loan

the longest term of loan shall not exceed 5 years

3. The expected annualized interest rate of decoration loan

the personal housing (commercial housing) decoration loan with a term of less than one year shall bear interest according to the expected annualized interest rate of the contract, and the interest shall not be calculated in segments in case of the expected annualized interest rate adjustment during the loan term; For personal housing (commercial housing) decoration loans with a term of more than one year, the expected annualized interest rate will be fixed for one year. If the expected annualized interest rate is adjusted during the loan term, the new expected annualized interest rate will be implemented from January 1 of the next year

IV. repayment of decoration loans

1. For personal housing (commercial housing) decoration loans with a loan term of less than one year (including one year), the interest is settled on a monthly basis and the principal is repaid once due; Interest can also be calculated monthly (or quarterly) and the principal and interest of the loan can be settled at maturity

2. Personal housing (commercial housing) decoration loans with a loan term of more than one year can repay the loan principal and interest in installments. The loan repayment methods are divided into equal principal and interest repayment method, equal principal repayment method and other methods recognized by industrial bank

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