5 benefits of using a personal loan to renovate your home
These days, it’s quite common to have a complete makeover in your home during the holiday season. You too can do the same by obtaining a renovation loan, a personal loan created for this purpose, and use it for the renovation of your home.
Manage all your major and minor financial requirements such as renovating your kitchen, expanding the built area, painting your home, redesigning the decor and much more with this tailored personal loan for salaried employees . This unsecured loan places no limits on how you spend the money so that you can use it for decorating your home or as a loan for repairing your home.
You can also easily meet the eligibility criteria for personal loans as a salaried applicant. You don’t need to use up your hard-earned savings when you apply for an unsecured loan online and get approved in minutes. To know the specific advantages of this home renovation loan, continue reading.
Get sufficient financing and buy major appliances
Some popular lenders offer up to Rs. 25 lakh when you borrow a personal loan for home improvement. Use these substantial funds to buy electronic devices like the best air conditioner, TV, washing machine, etc. Since this loan does not require any collateral, you do not need to pledge your assets to get the money into your bank account.
Get 5 minute approval and add color to your home
Painting your home both outside and inside can refresh its appearance and create a festive mood. Now you no longer have to delay booking a paint job as you can get this unsecured loan approved in just 5 minutes. Apply for a personal loan online from the best lenders to take advantage of this advantage. You can also download a personal loan app for quick use and manage your loan account from your smartphone. However, make sure you meet all eligibility settings to ensure quick approval.
Get cash in less than a day and handle immediate repairs
Water damage, septic system repairs, leaky roofs, and electrical issues can all wreak havoc and be quite expensive. Rather than compromise, you can get a home improvement loan to finance all of this and more. Today, you can access the loan funds in just 24 hours from the best lenders.
Choose flexible repayment terms and completely revamp your home
As a salaried borrower, you benefit from low interest rate personal loans when you meet all the eligibility criteria. While this helps you pay for affordable IMEs, you can also choose a long duration to make repayment easier. Usually, lenders will offer up to 60 months to repay the loan, giving you plenty of time to pay in installments and get debt free. Make sure to use the online EMI calculator for personal loan to plan repayment.
Choose the Flexi installation and manage your finances with ease
This unique facility offered by some lenders makes repayment even easier. With it, you can borrow as much as you need for home improvement expenses and only pay interest on what you use. This helps you manage costs as they arise. Plus, you can prepay when you have excess funds at no charge. Plus, you can choose to only pay interest like your EMI for the first year of repayment. This helps you better manage your finances and significantly reduce your monthly payments.
Now that you have a good idea of ââthe benefits of a home improvement loan, choose the one that suits your needs. Go for Bajaj Finserv home improvement loan for a hassle free experience and get funds up to Rs. 25 lakh at attractive interest rates.
You can also take advantage of the Flexi feature and instant online approval and get the cash on hand just one day after approval. Besides, you can choose a comfortable term of up to 5 years to repay conveniently. To get started, check out your pre-approved offer for a one-click home improvement loan. You can also download the Bajaj Finserv app to get the best loan deals.