Personal Loan for Home Renovation: 4 Essential Tips You Need to Know

Why Choose a Personal Loan for Home Renovation?

It offers substantial, collateral-free funds with flexible tenures. Here are 4 tips you should know:

Tip #1: Set a Clear Budget

A clear budget ensures you don’t borrow more than needed, preventing unnecessary financial strain.

Tip #2: Research Different Lenders

Compare interest rates, flexibility in loan tenures, and associated charges like processing fees.

Tip #3: Assess Your Repayment Ability

Choose a tenure, typically from 12 to 60 months, that aligns with your existing monthly expenses.

Tip #4: Use the Home Renovation Loan for Quality Upgrades

Prioritise upgrades that can increase the property’s value, if you’re planning to sell for profit.

How to Get Started on Your Home Renovation with SMFG India Credit?

Apply for a personal loan for home renovation of up to INR 30 lakhs* at interest rates starting from 13%* p.a.

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* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us