Makeover Finance
Home Renovation Loan
Give your home a fresh look. Fund repairs, painting, tiling, or remodeling with a hassle-free renovation loan.
Quick DisbursementNo Collateral OptionsTax Deductions
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Loan Details
Home Renovation Loan Calculator
Calculate your EMI and total interest for a home renovation loan with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹2,00,000 over 12 months at 25.8% APR. Total repayment: ₹2,29,038.83 with monthly EMIs of ₹19,086.57.
EMI Calculator
₹2,00,000
12
25.8%
Monthly EMI
₹19,086.57
Total Interest
₹29,038.83
Why Opt for a Home Renovation Loan?
Give your home a fresh look without draining your savings:
- Painting, tiling, and flooring upgrades
- Remodeling kitchen or bathrooms
- Waterproofing and roofing repairs
- Electrical and plumbing overhauls
Eligibility Criteria
Similar to standard home loans but with specific checks:
- Age: 21 to 65 years
- Ownership: Applicant must be the owner of the property
- Estimate: Valid quotation from a contractor/architect required
- Credit Score: 700+ preferred
Documents Required
In addition to standard KYC and income proofs:
- Title Deeds of the property
- Estimated cost of renovation from a certified civil engineer/architect
- No objection certificate (if in a society)
Interest Rates & Benefits
Rates are typically lower than personal loans:
- Interest Rate: Starting from 8.50% p.a.
- Tax Benefit: Interest deduction up to Rs. 30,000 under Sec 24(b)
- Tenure: Up to 15 years
- LTV: Up to 80-90% of the renovation estimate
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