{"id":13325,"date":"2023-08-29T03:11:29","date_gmt":"2023-08-29T03:11:29","guid":{"rendered":"https:\/\/tata-blog.osian.dev\/blog\/?p=13325"},"modified":"2024-03-07T11:34:37","modified_gmt":"2024-03-07T06:04:37","slug":"give-a-new-start-to-2021-by-renovating-your-house-using-a-personal-loan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/give-a-new-start-to-2021-by-renovating-your-house-using-a-personal-loan\/","title":{"rendered":"Give a New Start To 2024 by Renovating Your House Using a Personal Loan"},"content":{"rendered":"\n<p>Mr Sharma wants to improve the <em>Vastu <\/em>component of his home. He wants to take down some walls, build a prayer room, install new windows, and repair a leaky roof. However, a remodel in 2020 can prove hefty on the pocket, especially with the economic downturn. What can Mr. Sharma do? He can avail of a <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan\/home-renovation-loan.html\">home renovation loan<\/a>!<\/p>\n\n\n\n<p>Much like Mr Sharma, if you also want to spruce up your home favourably, a renovation loan can be a lucrative option. Because a <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\" target=\"_blank\" rel=\"noreferrer noopener\">personal loan<\/a> can easily cover the costs for multiple repairs and renovations like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>External repairs<\/li>\n\n\n\n<li>Internal repairs<\/li>\n\n\n\n<li>Remodels<\/li>\n\n\n\n<li>House maintenance<\/li>\n\n\n\n<li>Paint jobs<\/li>\n<\/ul>\n\n\n\n<p>And many more!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Benefits of a personal loan for renovation<\/strong><\/h2>\n\n\n\n<p>Not only are renovation loans excellent to meet the costs for multiple end-uses, but they also offer a host of benefits, from affordable <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan\/rates-and-charges.html\" target=\"_blank\" rel=\"noreferrer noopener\">personal loan interest rates <\/a>to quick loan approval.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Economical interest rates \u2013 <\/h3>\n\n\n\n<p>Loans for home renovations are widely available at competitive interest rates. And since they are easily affordable, they do not dent your pocket with the EMI burden.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u2022<\/strong> Flexible terms \u2013 <\/h3>\n\n\n\n<p>In addition to the loan amount, you can choose other loan terms like flexible tenure and EMIs. You can also take up to 60 months to repay the entire loan amount.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 No collateral \u2013<\/h3>\n\n\n\n<p>Renovation loans come under unsecured credit, so they are offered without any collateral from your end. As a result, you are not required to provide any security when you apply for the same.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Minimal documentation \u2013 <\/h3>\n\n\n\n<p>Paperwork for a renovation loan is usually minimal, so you do not have to furnish multiple documents at once. You only need to provide a few documents to support your monthly income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Tax benefit \u2013 <\/h3>\n\n\n\n<p>Under the Indian Income Tax Act, you can avail a tax deduction of up to Rs. 30,000 every year on the interest you pay to service the renovation loan. However, this is possible, only if the property is self-occupied.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional Read:<\/strong> <a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/read-about-tax-benefits-available-on-home-renovation-loan-in-india-tata-capital\/\">Tax benefits available on a home renovation loan in India<\/a><\/p>\n\n\n\n<p>Given the various benefits of home renovation on EMI, why not welcome 2023 in style? Here is how you can avail the loan with relative ease.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to apply?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Step 1: <\/h3>\n\n\n\n<p>Check the home renovation loan eligibility<strong> <\/strong>criteria with the lender of your choice. If you meet the conditions to the T, apply for a loan either online or offline.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Step 2: <\/h3>\n\n\n\n<p>Provide your personal, employment, and financial information in the application form. Also, choose a loan amount and tenure you prefer. You can use a <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan\/emi-calculator.html\">personal loan EMI calculator<\/a><strong> <\/strong>to quote a suitable amount based on your financial health.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Step 3: &nbsp;<\/h3>\n\n\n\n<p>Upload or furnish the requested documents for verification. And wait for the lender to contact you via a representative.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2022 Step 4: <\/h3>\n\n\n\n<p>Upon loan approval, you will receive the disbursed amount in your bank account, ideally within a few days.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional Read:<\/strong> <a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-renovation-loan\/tips-to-help-plan-a-home-renovation\/\">Tips to Help Plan a Home Renovation<\/a><\/p>\n\n\n\n<p>Want to revamp your home before 2020 ends? Avail of a personal loan for home improvement at Tata Capital for competitive interest rates. Get flexible loan terms to meet your renovation needs comfortably. Benefit from our lucrative offers today!<\/p>\n\n\n\n<div class=\"wp-block-group alignwide\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply Now<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mr Sharma wants to improve the Vastu component of his home. He wants to take down some walls, build a prayer room, install new windows, and repair a leaky roof. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/give-a-new-start-to-2021-by-renovating-your-house-using-a-personal-loan\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":13326,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-13325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Give a New Start To 2024 by Renovating House Using a Personal Loan - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Home renovating\u00a0is\u00a0the\u00a0best way to\u00a0give\u00a0a\u00a0new\u00a0look to\u00a0your house. 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