Recently, Wang Ping and his wife bought a house located around the subway station, housing prices nearly 800,000. When they worked out the decoration budget, they found that the funds needed for renovation were at least 150,000 yuan. Where do you "squeeze" out of this money? China Merchants Bank, Nanjing Branch, financial adviser, Li Sufen: Weapon 1, a credit card renovation loan. Most of the credit cards now have the function of installments. As long as they are willing to pay more fees, they can divide a certain amount of consumption into repayments. Merchants Bank's home improvement installment products " home improvement easy." For large-scale home-installed customers, China Merchants Bank’s credit card center can provide a credit line ranging from 10,000 to 150,000 yuan depending on the cardholder’s credit status. It is understood that the installment fee for the “Home Improvement†business is low, and it is divided into 12 periods, requiring a total processing fee of 3.5% of the total; for 24 periods, a total of 8% of the total processing fee is required. More importantly, outside the installment period, loan applicants can also enjoy a 6-month deferred loan period. Weapons II: high cost of credit loan applications. Unsecured, unsecured credit loans are also one of the channels for financing renovations. For example, Standard Chartered Bank has launched a “live credit†unsecured credit card loan business for young white-collar workers. When examining the eligibility of applicants, banks pay attention to their income, career stability, creditworthiness and liabilities. However, in addition to the loan interest, the credit loan will also generate a loan management fee, which will be charged at 0.49% of the total principal of the loan. Looking at the one-year “off-the-shelf†unsecured loans, in addition to the 7.99% loan interest rate, a 5.88% fee for the principal is required for one year. The interest and expenses total 13.87%, so the interest cost of the credit loan is Still relatively high. [
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