Why Home Renovation Loan is the Key to Afford a Dream House

Refurbishment and renovation of existing houses enhance the aesthetic value and comfort level, thereby making the house more functional. Apart from giving an eye-catching appeal to the home, revamping also increases the value of the same by a substantial amount. However, this whole process requires adequate funding. So, opting for a Home Improvement Loan is the best choice for the ones wishing to get work done on their properties.

To cater to these needs and expenses, reputed NBFCs including Bajaj Finserv provide Personal Loan for home renovation. It also offers pre-approved offers for Personal Loan, business loans, home loans and a plethora of other financial products and services via a quick timesaving process.

Here’s why taking a Personal Loan for home renovation is a good idea.

Time is money. So, getting the loan amount approved quickly makes it easier for the borrower to inch towards his dream home.

Many lending institutions approve the loan to their borrowers within minutes and the loan is disbursed within 24 hours after verification. This is a great advantage as they don’t need to spend a long week or so to get the loan amount.

The entire process of renovation encompasses a broad horizon and so as its funding. Therefore to emulate all the expenses, lenders provide a huge loan amount up to Rs. 25 lakh.

Hence redecoration and restoration of one’s home is now feasible with a home improvement loan.

A few leading NBFCs bring up a smart way in public interest to repay loans. Borrowers have the opportunity to repay the loan amount with only the interest part as EMIs. This facility can reduce the EMI amount by up to 45%. The principal amount is repaid only at the time of closure of the loan.

Another added benefit of home renovation loan is its faster turnaround time. With a quick verification of documents, the borrowers can get the loan disbursed to his account within a time period of 24 hours.

With home renovation loan, consumers can choose a time-period of 24 to 60 months to repay the amount. This flexible tenor helps the borrowers to pay back the loan amount according to their convenience without any additional stress.

Personal Loan for home renovation requires minimum paperwork and documents which include:

Borrowers have the benefit of enjoying affordable Personal Loan interest rate while opting for this financing option.

Thanks to the digital era, now one can relax at home and apply for Personal Loan online. Additionally, the borrower can keep track of all the expenses from anywhere anytime. You can also analyse and compute everything related to EMIs with an online EMI calculator.

Trustworthy NBFCs and banks always present transparent set of loan policies to their customers. The lending institutions believe in sharing a loyal relationship with the customers.

These lending institutions even allow part-prepayment of the loan without any extra charge.

Additional Reading: How to Get an Instant Personal Loan for Urgent Needs

So, while considering this Personal Loan, applicants do not need to stress out regarding hidden charges or extra fees.

Well, to qualify this Personal Loan eligibility criteria one can use the financial institution’s online eligibility calculator decoding the basic requirements.

So, to sum up, it can be said, home renovation loan can be useful in every dimension when one wishes to make his home a joyful place.

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