Loans for refurbishing houses refer to Renminbi consumer loans granted by the lender to borrowers to facilitate their own house refurbishing. The length of maturity of a loan for refurbishing houses is usually one to three years, with the longest not exceeding five years inclusive. The specific length of maturity depends on the nature of the borrower. The corresponding lending rate stipulated by the People's Bank of China applies to that on loans for refurbishing houses. If the length of maturity is within one year inclusive, interest amount shall be computed in accordance with the contracted interest rate, and the interest rate shall remain unchanged in case of adjustment of the legal interest rate; if the term is over one year, the interest rate shall be subject to interest rate adjustment, if any, made by the People's Bank of China. The ceiling of a loan for refurbishing houses shall not exceed 80% of the total house refurbishing amount.