What is a home renovation loan?

A home renovation loan is just what you need to give a makeover to your home, both in terms of aesthetic value and utility. It helps you to effortlessly meet the expenses of furniture, furnishings, painting, structural improvement, extension of facilities, etc.

How do I apply for a home renovation loan?

It is very easy to apply for home improvement loan. Visit our website and fill in the form with all the details.Alternatively, you can also visit our nearest branch and fill the form. In either case, do check your eligibility for the loan and submit all the required documents along with your application form.

What are the eligibility criteria for a home renovation loan?

The eligibility criteria to apply for a personal loan for home improvement differ from lender to lender.However, some of the basic yet important factors that are considered include property ownership, income, credit score, and other such factors. It is always advisable to check your eligibility before applying for a personal loan for home improvement.

What is the tenure of a home renovation loan?

You can generally choose a tenure from 1 year up to 20 years to repay your home improvement loan. However, this choice also depends upon your lender and the loan amount you wish to apply for.The best thing about this loan is that you do get the flexibility to plan your repayment, based on your financial situation.

What is the interest rate for a home renovation loan?

Several points are considered by lenders when they decide on the interest rate for a home renovation loan.Some of the basic but important factors that most lenders consider vital are the loan amount, tenure and most importantly, your credit history – which is reflected in your CIBIL score.

What are the benefits of home improvement loans?

No matter how long you’ve been living there, renovating makes you feel like you’ve just moved into a new home.A home renovation loan helps you achieve this transformation, and much more. The funds let you upgrade your home, which in turn increases its value, comfort and beauty manifold.

Can I get a tax benefit on a personal loan for home renovation?

Only a few types of loans attract tax benefits. Unfortunately, a loan for renovation is not usually one of them. However, it is advisable to consult a tax expert for precise guidance.

Home Renovation Loan - Apply For a House Renovation Loan Online

Home

Services

Products

Help

Get App

Apply Now

Personal Loan for home renovation

A home should reflect your style, taste, and personality. There are a lot of new trends and designs that can make your home more customizable based on your choices. Home improvements usually happen when you want to upgrade your home or for a family function when you are expecting a lot of guests. You can redecorate your home, spruce up your space and make it feel like your happy place with house renovations.

Renovations in the form of carpentry work, a new coat of paint or just getting new furniture are costly and discourage you from improving your home. Therefore, personal loan is a great option to finance your home renovation. You can renovate your home without a worry about the renovation expenses, the cost of contractors, interior designers, and purchasing raw materials weighing on your monthly budget. Hence, a personal loan for home renovation will relieve you from this financial burden.

To achieve a hassle free application process, all you have to ensure is that you meet our personal loan eligibility criteria and submit the required documents for the same.

With Kotak Mahindra Bank’s instant loan disbursal, you can now finance your home renovation expenses and redesign your home, giving it a new look without blowing up all of your savings.

Features & Benefits of Personal loan for home renovation (house renovation loan):

Avail Loan Amount of up to Rs. 35 Lakhs
Kotak Mahindra Bank offers loan amount starting from Rs.50,000 to Rs.35 lakhs along with flexible EMI options spread over a tenure period ranging from 1 to 6 years

Minimal Documentation and Quick Approval
Redesign your house with hassle free application process, minimal documentation and quick loan disbursal in under 3 seconds* for Kotak Pre-Approved Customers

Attractive Interest Rates and Easy Repayment Options
We offer attractive interest rates for our personal loans starting from 10.99% p.a. You can also check your monthly instalments instantly with our personal loan EMI calculator and conveniently plan your loan repayments for your house renovation project.

Use Funds for all Home Renovation Related Expenses
Whether you need funds for small kitchen additions, unexpected repairs or for any major renovation, you can avail renovation loan with Kotak Mahindra Bank to fund all your house remodeling related expenses

Find out more about Kotak’s personal loan and get a step closer to fulfilling your needs.