For the majority of first-time residents, the economic expenditure on house purchases and renovations is a significant amount. Sometimes loans become a very practical solution. Today, we will explore various options for the renovation loan。

What are the options for the renovation loan

First, hand-in-hand bank credit cards may be the most direct and quickest way. Without collateral, as long as you are a trusted user, you can apply for a loan from a bank. However, the money had to be spent on a refurbishment company with commercial cooperation with the bank。

Moreover, bank consumer loans have efficient processes that allow you to freely choose to renovate the company, albeit at a slightly higher cost。

As for bank mortgages, it would be a good choice if you had enough collateral. While the process is cumbersome and time-consuming, neither the fees nor the interest should concern you。

In addition, loans from financial companies would be easier and more open to choice, although the costs of intermediaries would be higher。

Finally, the interest rate of the Provident Fund loans is the lowest and the most favourable. But it is limited, cumbersome and difficult。

WHEN IT COMES TO REPAYMENT OF THE CONSTRUCTION BANK'S RENOVATION LOAN, YOU HAVE FOUR WAYS: ONE IS AN AUTOMATIC DEDUCTION, WHICH CAN BE TRANSFERRED AUTOMATICALLY FROM YOUR ACCOUNT ON A MONTHLY BASIS WITH THE AUTHORIZATION OF THE BANK; THE OTHER IS THROUGH AN ONLINE OR MOBILE BANK; THE THIRD IS THE USE OF AN ATM; AND FINALLY, YOU CAN PAY AT THE BANK COUNTER IN PERSON。