December 3, 2021

This Diwali Give Your Home A New Makeover

Is home renovation on your mind for quite some time? But you have been delaying it due to insufficiency of funds.

This Diwali, give your home a magical makeover with home-renovation loan.

Home renovation is essential to address the wear and tear, which occurs over a period of time, to make it look aesthetically appealing. It contributes to the regular maintenance and adds value to the place. You can renovate your home, by availing personal loan without stressing about insufficiency of funds.

The small costs add up to a big one, and overall a home makeover can be a costly affair. With the help of a right home renovation loan, you can turn your dream home into a modern living space.

Here’s how home improvement loan can give a new dimension to your home  this festive season:

Quick processing – Personal loan for home improvement can be done in few simple steps. You can visit the lenders website and Apply  personal loan online at your comfort and convenience. Simply fill all the necessary details in the form and upload the relevant documents. The loan amount is disbursed basis your eligibility and takes 3-4 working days to get the funds to your account.

Speedy disbursal – You are saved from doing rounds of bank, to get the approval of your loan amount. The status of your loan can be checked online and can only be attended if there is any requirement of additional documents. Ensure to provide proper documents, which will accelerate the chances of speedy approval.

Flexible repayment options – The repayment tenure of personal loan ranges from 24 months to 60 months. You can choose the tenure that suits your repaying capability. Since the personal loan is an unsecured loan, it can be disbursed faster.

Notable amount for all kinds of home renovation needs – Personal loan for home renovation can be availed up to Rs.20 lakh, which means renovating every corner of your room is now possible, without taking multiple loans, or using multiple credit cards.

You can take the help of Personal loan eligibility Calculator to calculate the monthly EMI outflow. Enter the loan amount, rate of interest, and tenure, which will give you a rough picture of the cash outflow, assisting you to take the decision.

To avoid taking higher amount as loan, you can plan well ahead in advance and save on the costs involved in the beautification of your home. Here are few tips, how you can ensure, your home renovation doesn’t drain away your finances.

Make the best use of sale and discount bonanza – Online shopping has gained a larger audience due to the convenience of purchasing and the discounted rate offered. Besides, there is a added advantage of browsing the collection of several brands at a single place. The doorstep delivery saves time and money and makes the product available at the best price. Even the sale at offline stores makes for a great purchase and can save a great deal of money, if the essentials are purchased off season in advance.

Sell off the unused items instead of discarding it – If you are planning to buy new furniture or electronics according to your new décor, you should sell your old items either at online portals or to someone in your acquaintance, which will pay you a descent sum of money. It will help you in de-cluttering the space, alongside paying you an amount to plan for the purchase of new items.

Make a pronounced impact by spending on details

It is not necessary to spend on hiring an interior decorator, for remodelling your home. Smart and necessary expenditures can go a long way in making a great impact in exuding a style statement. Instead of purchasing several decorative items, invest in  a few statement pieces. Chose a color scheme to highlight the walls of the home. Smart lighting will help enhance the space giving it a new spark to the boring rooms. Buy furniture’s that has built in storage space than the regular ones, to utilize it for keeping additional stuffs.

Use the existing stuff by giving it a new look

You can try refurbishing the old materials instead of discarding it. Compare the cost of refurbishing vs buying the new stuff. An old sofa can be reupholstered in a dramatic new fabric which will give a completely new look. It can save on the cost of buying an expensive furniture turning it into an economical option.

You can compare the interest rates offered by various lenders and choose for yourself, the best suitable one.

SBI 10.90%
HDFC Bank 11.25%
ICICI Bank 10.99%
Bajaj Finserv 10.99%
Citibank 10.99%
IDFC Bank 11.50%
Axis Bank 16%
Tata Capital 11.25%
Fullerton India 20.00%
IndusInd Bank 11.25%
Kotak Bank 10.99%
RBL Bank 14.5%
IIFL 13%
HDB Financial 13.99%
Karur Vysya Bank 13.90%
PNB 12.00%
Vijaya Bank 12.90%
Union Bank of India 12.60%
Syndicate Bank 14.20%
Standard Chartered Bank 11.99%
Indian Overseas Bank 12.45%
Andhra Bank 12.85%
Bank of Baroda 11.60%
Bank of Maharashtra 12.95%
Canara Bank 14.10%
Corporation Bank 12.90%
Dena Bank 11.60%
Federal Bank 10%
IDBI Bank 12.50%
Allahabad Bank 12.80%
Indian Bank 14.20%
Yes Bank 10.75%

Here is a guide to consider few points before availing personal loan.

Evaluate your eligibility – All the lenders are majorly concerned about the repayment capability. Your credit score, majorly plays the role in successfully providing you with the approval. Close all the existing loans before applying for the loan.

Considering repayment options – All lenders at the time of granting loan, look out for the income sources, to understand the borrower’s capacity to repay the amount. Calculate your eligibility with the help of using EMI calculator and check out ways of repaying the loan.

Deal offered by lenders – A good credit score will land you with the best personal loan deal. Evaluate which lender is offering the loan at best interest rates. Festive seasons are a great time to grab deals on loans in the market. Make the most use of those offers.

Bring happiness and good luck this Diwali, by giving your home a great makeover.