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Get a personal loan for home renovation in 2021

by Sunny Dhawan Banking Professional

Everyone likes to own a beautiful home as per their tastes and preferences. Like us, our property also tends to have some wear and tear as it gets old. So you might be thinking of getting a loan for home renovation


This is indeed the right investment as it adds life to your home, can increase its resale value in the future, and above all will improve its look and style. The home renovation can be due to Vaastu rules or a necessary repair in the roof or floors or additional room construction etc. Whatever be the reason for it, all you need is a personal loan to do it successfully.

 

Considering the present economic scenario, it will pinch your pockets, if you try to do it using your savings amount and it is not the right decision too. Why look anywhere else, when you can apply for a personal loan online from Axis Bank.

 

When you apply for a personal loan online from Axis Bankyou will get the following benefits as follows: 

 

·      Lower interest rates: Compared to the interest rate of other loans, the home renovation interest rate is the cheapest and its EMI will not pinch your pocket.

 

·      Flexible repayment tenure: You can choose the tenure as you wish according to your repayment capacity. Usually, the repayment tenure can be up to 5 years.

 

·      Collateral Free: You need not give any collateral for this loan and it is unsecured.

 

·      Not much documentation is needed apart from your KYC, income proof statements, and good credit score. You can also add a Co-applicant, who is usually your blood relative to increase the chances for a higher amount of loan sanction.

 

·      Income Tax Benefit: The interest you pay up to Rs.30000 per year on the home renovation loan is eligible for deduction under Income Tax Act. The main condition for this is that your property should be self-occupied.

 

You can also make use of the personal loan EMI calculator available on the Axis Bank’s website to know your monthly EMI. Also, go through the eligibility criteria and other documents needed to apply for a loan in Axis Bank. You can either apply it online or through offline mode. Once the bank analyses your quotation and other necessary documents and if found satisfactory, they will disburse the loan to your account. After getting the funds needed for your home renovation you can proceed further with peace of mind.


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About Sunny Dhawan Junior   Banking Professional

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Joined APSense since, April 30th, 2021, From Mumbai, India.

Created on Jul 23rd 2021 07:11. Viewed 261 times.

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