Renovation Loan
A home renovation loan is a type of home finance you can avail of to renovate your house. The loan can be used for internal and external home renovations. Such as painting and whitewashing, tiling and flooring, waterproofing, plumbing and sanitary work, and more. With a contemporary design and more comfortable living space, you can upgrade your existing home.
Most banks, Non-Banking Financial Companies (NBFCs), and Housing Financial Companies (HFCs). Provide this facility either through their regular home loan product or as a separate offering within the broader category of home loans.
Banks in the public and private sectors, small finance banks, regular rural banks, and foreign banks in India. Additionally, non-banking financial companies (NBFCs) offer property loans.
Some banks to name a few are SBI Bank, ICICI Bank, HDFC Bank, IDFC First, Tata Capital, Axis Bank, Kotak Mahindra Bank, IIFL, DHFL, Poonawalla Fincorp, Karur Vysya Bank, Karnataka Bank, Deutsche Bank, PNB Housing, LIC Housing Finance, Yes Bank, IndusInd Bank and some other banks
Renovation loan interest rates may range between 8% – 25% per annum. Up to 20 years may be the maximum loan tenure.
Please check your EMI with our EMI Calculator.
You can also check your credit score through a credit score provider
**The above rates may change from time to time. Please check with your bank for the current interest rate.**