Home Renovation & its cost
Home renovating is the best way to provide a new look to your house. It not only adds beauty to your house but maintains its structural integrity. Well, this was about the look of the house, but apart from this home renovation is good from the financial point of view as well. Purchasing a new house needs lots of money which can be in lakhs, and in City like Bangalore it can even go to crores. But when talking about home renovation, it takes only a few lakhs on an average let’s say 4 to 5 lakhs to give a new look and sole to your old house. So, if you are looking for a more luxurious or modern house at the same location then home renovation is the best way to get it done.
Why personal loan for Home Renovation?
Draining your savings or premature withdrawals from your investments is never a good idea unless it’s an unavoidable situation or emergency. And your home renovation is not among those situations. The next option to you is opting for a home loan or a home renovation loan. But this doesn’t work for all. The process is long which includes lots of documentation and time as well. Apart from all this, it is also possible that you may not get the loan amount which you want. Moreover, you need to pledge collateral against your home renovation loan.
There is one solution to all these problems and that is- to opt for a collateral-free Personal Loan for Home Renovation. For this, the interest rates are pocket-friendly too.
Here’s everything you need to know about a personal loan for home renovation.
Easy to Get
Personal loans are widely available, from conventional lenders to Fintech companies all provide a personal loan with attractive offers. To apply you just need to go to their website and fill the online application form. The loan is processed through an online process in very less time, reducing the time consumption. And soon as you meet the eligibility criteria your personal loan application will be approved.
Hence, all this makes it easy for you to fund your home renovation with a personal loan. A personal loan can be used to bear any expense related to home renovation which includes – interior designing, repair, remodelling and so on.
Allows You to Choose a Convenient Tenure
A personal loan allows you to choose a tenure of your choice, based on your repayment capacity you can choose for it. Generally, the tenure period for a personal loan varies from one to five years. So, you can go with an appropriate tenure. Remember the higher the tenure lower will be the EMI and vice versa.
Minimal Paperwork Required
When you apply for a personal loan, the paperwork required is very minimal. You just need to upload a few documents which include – documents for identity proof, address proof, your latest salary slip and bank statement of the past 3 months. For a personal loan, the processing is completely online so you just need to upload the documents on their portal directly while filling the application form. Hence, there is no physical paperwork involved.
You don’t need to provide any collateral or security while you apply for a personal loan for your Home Renovation Loan.
Funds are Available Quickly
The approval for your personal loan with Finance Buddha takes a few hours. As soon as you submit your application form, we start working on it. We have automated software to match the eligibility criteria and document verification. So as soon as you pass the eligibility criteria you will get an e-approval SMS and within the next few hours, the loan amount will be disbursed to you.
Personal loans are one of the best options available to you if you are looking to renovate your house. There is no need to drain your savings and mortgage your house. Personal loans are way convenient and come at attractive rates along with some limited time period offers too. So, don’t think much, just give a new sole to your old house through a Finance Buddha personal loan.