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8 Effective Ways to Use a Personal Loan for Furniture

October 21, 2023 • 1284 views

Buying the right furniture not only changes the visual appearance of your home but adds functionality and warmth. However, extensive upfront costs are involved with purchasing a new piece of furniture. An easy way to bear the hefty price tag is to apply for a Personal Loan for furniture. It lets you pay for high-quality items that last for a long time without exhausting your savings. Read this blog to know how a Personal Loan can help you refurbish your house.

How Can You Use a Personal Loan for Purchasing Furniture?

Here’s how you can use a Personal Loan for furniture:

1. For a Complete Home Makeover

A Personal Loan gives you enough funds for a home makeover. Its flexibility also allows you to cover replacing the entire decor. Replace your old sofa with a luxurious sectional, upgrade your dining set for elegant entertaining, or create the cosy bedroom for the retreat you deserve with a Personal Loan.

2. To Upgrade Your Furniture

With a Personal Loan for furniture, you can buy new pieces or sets of furniture that better suit your style, comfort needs, or overall decor. This can be a great way to refresh your living space and enhance the aesthetic look of your home.

3. For Specialised Furniture Purchase

A Personal Loan is useful for financing specialised furniture pieces that may not be readily available in-store and have extra costs attached. You may go for personalised or custom-made comfortable chairs, antique furniture restorations, or outdoor patio furniture sets.

4. For Antique Furniture

Personal loans are a great way to finance those unique antique pieces you always dreamed of. Whether it is a stunning wardrobe for your bedroom or an ornate dining table, a Personal Loan gives you the funds to invest in timeless treasures that add character and value to your home.

5. For a Lavish Kitchen Space

You can transform your kitchen into a culinary haven with the help of a Personal Loan for furniture. Upgrade to high-end appliances, install custom cabinetry for ample storage, or create a stylish dining nook that is perfect for both gourmet meals and casual gatherings.

6. Furniture for a New Baby

A Personal Loan for furniture can help you prepare for the arrival of your little one. With quick access to funds, you can easily purchase a comfy crib, a spacious wardrobe to store your child’s tiny clothes, and a cosy nursing chair. It can cover costs for all essential nursery pieces to create a safe and welcoming space.

7. Furniture for a Home Office

With a Personal Loan, you can create your ideal work-from-home setup. It will enable you to invest in an ergonomic desk and chair for comfort and productivity. You can also upgrade storage to banish clutter and add stylish touches to inspire your workday.

8. During Emergency Furniture Replacement

Unforeseen circumstances (such as breakage) may necessitate urgent furniture replacement. This is when a Personal Loan for furniture comes to the rescue. It ensures quick access to the funds required for essential replacements.

How Does Personal Loan For Furniture Work?

  • You must apply for a Personal Loan and submit all the necessary documents.
  • Once documentation is complete, the request must pass the evaluation process.
  • After the evaluation process is complete, you will receive a formal confirmation of loan approval.
  • Post-approval, the loan amount will be transferred directly into your designated bank account.
  • You can then you can cover the entire cost of making your home a comfortable space for you and your family.
  • After leveraging the loan amount, you must pay monthly EMIs as per the loan terms.

Benefits of Getting a Personal Loan for Furniture

Here are the benefits of availing of a Personal Loan for buying furniture:

  • High Amount of Loan: Get a high loan amount of up to Rs. 30 Lakh.
  • Competitive Interest Rates: Access loans with interest rates starting at 9.99% p.a.
  • Simple Application Process: Apply online hassle-free and get funds instantly.
  • Flexible Loan Tenure: Get a flexible repayment tenure of up to 60 months.
  • Simple Documentation: Provide only the basic eligibility documents.
  • Collateral-free: Get complete ownership of your priceless belongings without the need for pledging assets.

If you are looking for quick funds, apply for a Personal Loan for furniture from Poonawalla Fincorp. The steps to apply are in the next section.

Also Read - Get a Quick Personal Loan for Home Interior

How to Apply for a Personal Loan for Furniture from Poonawalla Fincorp?

Apply for a Personal Loan for Furniture with these 3 easy steps:

Step 1: Click on Apply Now.

Step 2: Fill out the application form.

Step 3: Upload all the necessary documents.

Upon verification, the loan amount will be credited to your bank account instantly.

Also Read - How Personal Loan Can Be Used For Home Renovation or Office Interior?

To Conclude

A Personal Loan for furniture provides various opportunities to enhance your living space. You can transform your home with a complete makeover, upgrading, or customising.  A Personal Loan for furniture enables you to enhance the aesthetics and comfort of your home and save costs. It provides flexibility with easy application, minimal documentation, high loan amount, and quick disbursal.

If you are looking for instant funds, apply for a Personal Loan for furniture from Poonawalla Fincorp. Get a loan amount of up to Rs. 30 Lakh at a competitive interest rate with minimal documentation and quick disbursal. Apply now!

Frequently Asked Questions

1. Can you get a loan to buy furniture?

Yes. With leading financial institutions like Poonawalla Fincorp, you can avail of a Personal Loan for furniture with a loan amount of up to ?30 Lakh and interest rates starting at as low as 9.99% p.a.

2. When is taking out a furniture loan a wise decision?

Taking a furniture loan is a wise decision when:

  • You have an immediate need.
  • Repayment is affordable.
  • You get a low interest rate.
  • Investing in high-quality furniture.

3. Is there a minimum credit score requirement to apply for a Personal Loan?

A CIBIL score of 750 or above is considered ideal by most lenders. However, maintaining a credit score of 850 or above increases your chances of loan approval at competitive interest rates and terms.

4. Can my loan request be approved in 2 days?

Yes, your loan can be approved in 2 days. However, the approval process may vary from lender to lender.

Disclaimer

We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Personal Loan disbursal is at the sole discretion of Poonawalla Fincorp.
*Terms and Conditions apply

poonawalla fincorp team

Poonawalla Fincorp Team

Our team of expert writers and editors are passionate about providing authentic and valuable information on finance. Our aim is to simplify financial and finance-related concepts. We strive to help our readers become more aware and empowered to make informed financial decisions.

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