Building a home is a milestone. The prospect of designing your personal space according to your style and taste is just as exciting as buying a house. After all, it is where millions of memories will be made. The love, warmth, and positivity that your home exudes can make it a comfort-haven for the soul. For these reasons, home renovation can become a thrilling and gratifying experience at the same time. The only drawback in transforming the house according to your design can be the cost associated with it. However, thanks to instant personal loan online, worrying about finances or digging into your savings can now be a thing of the past.
Hiring services of an interior designer, contracting the project to contractor fees, and buying raw materials and aesthetics can be expensive. To give you a perspective, redesigning your kitchen alone can start from Rs.2 lakh and go as high as Rs.10 lakh and more. You could do the math to imagine how much it would cost to do the entire house.
A personal loan can make your situation better and can be preferable to home improvement loans. Let’s weigh the options.
What is home improvement?
Home improvement is a vast area and can mean different things to different people. If the house is old and needs maintenance, it may require a host of additions or alterations. These could include redoing plumbing, waterproofing washrooms, retiling flooring, or installing a modular kitchen. On the other hand, some people may want to add glamour to their home by adding in a touch of luxurious comforts. It could mean getting modern light fittings, a jacuzzi, or installing surveillance cameras.
Personal loans give you the freedom of using the loan amount in any of these areas. With a home renovation loan from Bajaj Finserv, you get the benefit of choosing the loan amount. It is an unsecured loan without having to pledge your house as security. You can check the personal loan eligibility criteria and determine the amount you can avail. The primary advantage is that you can use the funds as per your convenience. You can check more details about Bajaj Finserv Personal Loan here.
With this information, you can understand if home improvement loans are a good idea vis-a-vis using a personal loan for the same task.
How much can you borrow for home improvements?
You can avail a personal loan for home improvement up to Rs.25 lakh at competitive interest rates. You can avail instant personal loans and manage them online with the help of a loan app. You can also renovate your home the way you want to with Bajaj Finserv Flexi Loan that lets you pay interest only on the amount utilised out of your sanction. In addition, you can be assured of quick disbursal upon loan approval.
What do you need for a home improvement loan?
A personal loan doesn’t come with any pre-conditions. You can remodel your house with the loan amount, without any questions asked. With minimal documentation, you can simply key in a few details and apply for a lower interest personal loan online.
Bajaj Finserv Personal Loan is collateral free, which means you don’t have to mortgage your home to renovate it. In addition, you can choose to repay the loan over a convenient tenor ranging from 12 months to 60 months. You also get the option of selecting a flexi interest-only loan for your home improvement and pay up to 45% lower EMIs.
Bajaj Finserv brings you pre-approved offers on personal loans. Not only does this simplify the process of availing your loan, but it also helps you save on time. All you have to do is share a few basic details and check out your pre-approved offer.