Owning a house is one thing, but turning it into a home means that it must reflect your personal style. From the wallpaper to fittings and furniture, you would want every aspect of your home to reflect your personality and be comfortable too. However, be it retiling a bathroom or redoing the kitchen renovations are expensive and demand a significant financial commitment. From a material cost and labor fees to unseen expenditures, renovations can put a strain on you mentally and financially.
Dipping into your personal savings for renovation is not something you would want to do, especially when you can take a home renovation loan to ease the process. Before going ahead and applying, take a look at the features of the loan that make it ideal for home renovation.
Enjoy Substantial Amount For All Your Renovation Needs
Having your house renovated demands two very important assets, your time and money. Financing home renovation can easily cost lakhs and you need to pick a lender who can provide a suitable loan amount at an interest rate that is affordable. You also need to account for any additional costs that you have to bear, right from labour and transportation charges to the procurement of additional materials. These instances are common when renovating and having an ample buffer is always beneficial. For this reason, lenders like Bajaj Finserv offer up to Rs.25 lakh when you avail a personal loan for home renovation.
Use Funds Flexibly To Tackle Unpredictable Home Improvement Costs
Even with thorough planning, home renovation endeavours usually encounter unforeseen incidents, which translate into added expenses. If you’ve budgeted without keeping a contingency in mind, this will force you to spend out of your pocket. To avoid this type of situation, the Bajaj Finserv Home Renovation Loan offers you the flexi loan facility. This facility assigns an approved amount to your loan account and lets you utilise it as you wish, charging you interest on only the amount that you use.
You can borrow from your sanction multiple times as and when you have a need for funds. Moreover, you can choose to pay interest-only EMIs, which can save you up to 45% on your EMIs and repay the principal at the end of the tenor. This way you can enjoy more liquidity during your home renovation and also save yourself from the hassle of multiple applications for additional funds.
Apply Conveniently And Get Approval Quickly So You Can Start Now
When making arrangements for home renovation, you do not need the added task of waiting in lengthy queues and going through long-drawn procedures to access funding. This dated process is something you can do without even visiting a branch and lenders have now changed the system to hasten the process. One such lender is Bajaj Finserv with their instant approval feature, which boasts of a 5-minute approval window after application and verification, you can get the money in your bank account in 24 hours.
Features such as these coupled with a nominal personal loan interest rate, minimal documentation and the need for no collateral make home renovation loan amongst the most sought after in India. While applying for a renovation loan, eligibility criteria plays a big role in ensuring that your application is approved and that you get a good deal. So, make sure you check your lender’s criteria. As with any other loan, your interest rate and the loan amount will depend on factors like your salary and CIBIL score.
Repay Amount Without Any Hassles To Enjoy Peace of Mind
Being able to service a loan without strain is the best way forward. So, ensure you use EMI calculator before you apply for this loan. Opt for loans that have flexible tenors and have a competitive interest rate. The Bajaj Finserv Home Renovation Loan offers you a repayment window of up to 60 months and also allows you to foreclose your loan prior to its tenor. This lets you save significantly on interest payments and better yet, it can all happen from the comfort of your newly renovated home through the online portal.
Having financial aid that you can rely on is imperative, especially when you’re investing time and money into the quality of your home. So, make the most of the advantages of Bajaj Finserv Personal Loan for Home Improvement and make renovation stress a thing of the past. To move forward, check your pre-approved offer and benefit from instant approval so you can renovate your home sweet home without wasting precious time.