Home improvement or renovations is one thing that you may be looking to go for months and years. But you may not be able to do that due to the shortage of funds. But if you have a healthy cibil score of 750 or more with clean repayment and income record, then there is a solution. Yes, you can apply for home improvement loans. Read on to know about it and its many features that can help you remodel your home hassle-free! What are home improvement loans? Home improvement loans are an extension of the personal loan. But it has been designed by lenders to meet the needs of home renovations. Reputed banks and NBFCs in India offer the facility of home improvement loans. Quick aspects of home improvement loans 1. No collateral required The home improvement loans are given on the basis of your creditworthiness. And you don’t need to submit any collateral. If your credit score and repayment history are in good shape, then you may get the loan approval fast. 2. Large loan amount Home improvement loans come with a big loan amount of up to Rs.25 lakh. You can use the funds for any aspects of your home renovations without restrictions. 3. Approval on the go If you are the fit candidate for the loan, then the loan approval will come your way within minutes. 4. Get set to start using the funds within 24 hours You don’t need to wait for the lender to disburse the loan amount. Once approved, the approved loan amount gets credited in your bank account within 24 hours. 5. Repay with ease over 60 months Once you avail the loan, you don’t need to hurt your outlays by repaying it fast. You can pay smaller EMIs over 60 months and manage everything smoothly. Are you all set to apply for Home improvement loans? You can do that online right away! Additional Read: Everything You Should Know About Home Improvement Loan
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |