Home is attached to our emotions and we want to upgrade the old home with a modular kitchen, floor with tiles, painting & more. But sometimes we can not manage to do home renovation for other expenses. 24hr Loan solves your problems.
Many Banks / NBFC companies provide up to Rs. 40 lakh personal loans for home renovation. Do you think a higher salary is required for this loan? No, you apply for a personal loan with an Rs. 12,000 monthly salary.
Banks Offers Personal Loan for Home Renovation
|Lender||Interest Rate (p.a.)||Loan Amount||Monthly Salary|
|WeRize||16% to 21% p.a.||Rs. 30,000 to Rs. 5 lakhs||Rs. 12,000||Apply Now|
|InCred||11.49% to 18% p.a.||Rs. 50,000 to Rs.7. 5 lakhs||Rs. 15,000||Apply Now|
|IDFC||12.50% to 18% p.a.||Up To 10 lakhs||Rs. 15,000||Apply Now|
|PaySense||1.4% to 2.3% per month||Rs. 50,000 to Rs. 5 lakhs||Rs. 18,000||Apply Now|
|Upward||9% to 32% p.a.||Up To 5 lakhs||Rs. 20,000||Apply Now|
|Axis Bank||10.49% to 22%||Up To 40 lakhs||Rs. 25,000||Apply Now|
|SMFG India Credit||11.99% to 32% p.a.||Up To 25 lakhs||Rs. 20,000 to|
|Bandhan Bank||10.50% to 18% p.a.||Up To 25 lakhs||Rs. 20,000||Apply Now|
|Piramal Finance||12.99% p.a.||Up To 10 lakhs||Rs. 25,000||Apply Now|
Benefits of Personal Loan for Home Renovation
Quick Loan Disburse: Forgot your old day’s loan application process. Now get your loan disbursed in a digital way. It will save you time.
Simple Paperwork: As you are not taking a mortgage/home loan, you only provide the KYC details and income proof.
No Hard Copy Required: We already said it is a digital loan process. So, you don’t provide a hard copy.
Loan with Low Salary: You can take a personal loan with a low income. 24hr Loan offering a home renovation personal loan with Rs. 12,000 salary.
Collateral-Free Loan: Without any security, your personal loan will be approved. Don’t need property papers, gold, or other things for a home renovation loan.
Match Eligibility Criteria
It’s quite simple to take a home renovation loan for everyone. 24hr Loan offers personal loans with simple criteria. Everyone should take this opportunity & grab a personal loan.
- Residence: Indian
- Eligibility Age: 21 to 55 years
- Employed Type: Public, Private & Government
- Work Experience: Minimum 12 months
- CIBIL: Zero or 700+
- Monthly Net Salary: Rs. 12,000
Documents Required for Home Renovation Loan
Complete the process of your document to take the loan within 3 days. We do not take complicated documents. It’s simple for everyone.
- Current Address Proof: Rent Agreement/ Electricity bill/ Gas bill
- Residential Address Proof: Aadhaar Card/ Voter Card/ Driving License / Passport
- Identity Proof Documents: Pan Card
- Provide Recent salary slip
- Bank statement for the last 12 months
- Photo of Applicant
Also Read: Mortgage Loan at 12,000 Salary
Home Renovation Personal Loan Interest & Charges
|Interest Rate||10.49% to 32% Yearly|
|Processing Fee||Up To 4% + Taxes|
|Insurance Charges||Up To 3% of loan amount|
|Late Charges||Bank will decide|
|Loan Tenure||1 year to 5 years|
How to Apply for a Home Renovation Loan
Step 1: Select a lender that will match your salary.
Step 2: The second step is to click on the “Apply Now” tab.
Step 3: Fill in all your details KYC form.
Step 4: Submit documents of PAN card, Aadhaar Card, Salary Slip, and bank Statement.
Step 5: The lender calls you for the verification process and disburse your loan.
FAQs on Personal Loans for Home Renovation
Can I take a loan for home renovation with a Rs. 12,000 salary?
24hr Loan gives you the opportunity to get the loan with a Rs. 12,000 salary. But your salary must be credited to a bank account with 12 months of job experience.
How much loan can I get with Rs. 20,000 salary for home repair?
Before getting the loan, the lender will calculate your current EMI. If your current EMI is 4,000 to 5,000, your loan amount may be 2 to 3 lakhs.
What is the interest rate of a home renovation personal loan?
The interest rate will vary based on the lender. Most of the lender give your interest rate between 10.49% to 32% per annum.