Home Improvement Loan — Upgrade your House into Your Dream Home

Home Renovation Loan

It is not easy to transform your house into a home. Especially with the sustained rise in the cost of renovation, material and labour, a simple interior paint job can set someone back by a few lakhs. Thus, to avoid putting a dent in your savings while redecorating your house, you can avail a home improvement loan to cover the expenses associated with it.

This personal loan is an unsecured advance, which can allow you to avail a high loan amount value at an affordable interest rate to cover costs like flooring, tiling, interior and exterior paint costs, etc.

How can a personal loan aid you to renovate your house?

Home renovation can be quite a cost-intensive process. Especially with the variety of materials and services you need to avail for it, it is best to have a separate fund to cover every cost.

With a personal loan for renovating your home, you can avail the following benefits-

• A loan amount value of up to Rs. 25 Lakh that can help you to finance repair work, paint jobs, furnishings, and numerous other costs.
• It is an unsecured advance that does not require you to mortgage any asset with the financial institution. As a result, your repayment liability is reduced to quite an extent.
• You can choose the loan tenor between 12 and 60 months to repay the amount at your convenience.
• You also avail the benefit of instant approval for the credits with the loan amount disbursed to your account in under 24 hours after approval
• Also, certain financial institutions offer Flexi loan facilities, which attract interest only on the loan amount you withdraw from a pre-sanctioned limit. If you do not use the entire home improvement loan amount sanctioned, you don’t need to pay the interest on the total amount.

Additionally, since the loan requires minimal documentation, you can avail it without any difficulty. Thus, this particular advance can be exceptionally helpful to transform a house into your dream home.

Must Read: How to Get the Best Personal Loan Deal