Get a Personal Loan to Renovate Your Home
Give your home a new look with a Personal Loan for home renovation from Poonawalla Fincorp. Get up to ₹30 Lakh without pledging collateral or any end-usage restriction. Enjoy quick approval and minimal documentation. Cover the entire cost of making your home a comfortable space for you and your family. Apply now!
Personal Loan EMI Calculator
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EMI Amount = *
Interest Rate and Fees of Personal Loan for Home Renovation
Get a Personal Loan from Poonawalla Fincorp and give a fresh look to your home interiors at minimal processing fees and other charges:
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹30 Lakh |
| Loan Processing Fees | Up to 2% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 – 60 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Interest | 3% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Personal Loan for Home Renovation Eligibility Criteria
Get a quick Personal Loan – just meet these simple criteria:
Age
Citizenship
Monthly Income
Employment
Work Experience
Credit Score
- Age - Between 22 years and 57 years
- Citizenship - Must be an Indian citizen
- Monthly Income - Should be at least ₹30,000
- Employment - Should be an employee at a reputed public or private company
- Work Experience - Must have a minimum of 12 months of work experience and a minimum of 1 month’s experience with the current employer
- Credit Score - Should have a credit score of 750 and above
In addition to this, a good credit score can increase your chances of qualifying for our personal loan for home renovation.
Documents Required
Upload a few primary documents to complete your application in just minutes:
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Identity Proof
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Address Proof
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Income Proof
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Employment Proof
- Identity Proof : Government ID cards like PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
- Address Proof : Utility bills, rental agreement, passport
- Income Proof : Latest salary slips for the last 3 month, last three months’ bank statement
- Employment Proof : Official email ID or Employee ID card
Why Choose Personal Loan for Home Renovation
- Cover all the home renovation expenses
- Flexibility to select the repayment tenure
- Plan repayment using an EMI calculator
- Use the money to finance preferred expenses
Who Can Avail Personal Loan for Home Renovation
- Salaried people working in a reputed government or private company
- Self-employed people having their venture and adequate business vintage
- Working professionals such as doctors, CAs and Company Secretaries
Features and Benefits of Personal Loan for Home Renovation
Key highlights of the Personal Loan for home renovation include:
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Simple Documentation
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Fast Approval and Disbursal
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Convenient Monthly Instalments
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No Hidden Charges Present
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Hassle-free Application Process
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Zero Collateral Required
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Attractive Interest Rates
- Simple Documentation : Upload only a few primary documents to complete your application process
- Fast Approval and Disbursal : Get instant approval and fast disbursal of funds to meet immediate renovation expenses
- Convenient Monthly Instalments : Repay the loan affordably over up to 60 months
- No Hidden Charges Present : All fees and charges are disclosed
- Hassle-free Application Process : Apply for a Personal Loan online or on the Poonawalla Fincorp App in just a few clicks
- Zero Collateral Required : Personal loans are unsecured. You do not need to pledge collateral.
- Attractive Interest Rates : Enjoy competitive interest rates starting at 9.99%* p.a.
How to Apply for a Personal Loan for Home Renovation
Follow the steps below to apply for a Personal Loan to renovate your home:
- Step 1 : Click on the “Apply Now” button.
- Step 2 : Enter all the necessary financial and personal details accurately.
- Step 3 : Upload a scanned copy of the necessary documents and click the ‘Submit’ button.
Once our representatives verify your application and the documents, you will receive the requested amount instantly in your bank account.
Apply for Personal Loan For Home Renovation within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions
Since there are no end-use restrictions on this borrowed amount, you can use this money for renovating your home, paying medical bills, funding a dreaming wedding, travelling, and more. However, check the interest rate, calculate the monthly loan repayment amount, and other fees and charges to make a wise decision.
You can easily apply online for a Personal Loan for home renovation by following the steps mentioned below:
- Step 1 : Click on the ‘Apply Now’ button.
- Step 2 : Enter all the necessary financial and personal details accurately.
- Step 3 : Upload a scanned copy of the necessary documents and click the ‘Submit’ button.
After your application and documents are verified, the amount will be disbursed directly to your bank account.
Poonawalla Fincorp offers Personal Loan to:
- Salaried individuals working in a reputed public or private firm.
- Self-employed people who have their own venture and have adequate business vintage.
- Working professionals such as doctors, CAs and Company Secretaries.
Yes, under Section 24(b) of the Income Tax Act, 1961, taxpayers in India can claim up to ₹30,000 tax exemption on a Personal Loan availed for home renovation. The tax deduction claim can only be made on the interest paid against the loan amount.
The applicable charges and interest rates for personal loans for home renovation vary across lenders. At Poonawalla Fincorp, we provide Personal Loan at the most competitive interest rate, starting from just 9.99% per annum. Additionally, a nominal processing fee of 0 to 2% of the loan amount might be applicable.
*Terms & Conditions Apply
