Home Renovation Loan - Get a Renovation Loan up to Rs. 20 lakhs with Kotak Mahindra Bank

Personal Loan for home renovation

A home should reflect your style, taste, and personality. There are a lot of new trends and designs that can make your home more customizable based on your choices. Home improvements usually happen when you want to upgrade your home or for a family function when you are expecting a lot of guests. You can redecorate your home, spruce up your space and make it feel like your happy place with house renovations.

Renovations in the form of carpentry work, a new coat of paint or just getting new furniture are costly and discourage you from improving your home. Therefore, personal loan is a great option to finance your home renovation. You can renovate your home without a worry about the renovation expenses, the cost of contractors, interior designers, and purchasing raw materials weighing on your monthly budget. Hence, a personal loan for home renovation will relieve you from this financial burden.

To achieve a hassle free application process, all you have to ensure is that you meet our personal loan eligibility criteria and submit the required documents for the same. 

With Kotak Mahindra Bank’s instant loan disbursal, you can now finance your home renovation expenses and redesign your home, giving it a new look without blowing up all of your savings.


Features & Benefits of Personal loan for home renovation (house renovation loan):       
    

  • Avail Loan Amount of up to Rs. 20 Lakhs
    Kotak Mahindra Bank offers loan amount starting from Rs.50,000 to Rs.20 lakhs along with flexible EMI options spread over a tenure period ranging from 1 to 5 years
     
  • Minimal Documentation and Quick Approval
    Redesign your house with hassle free application process, minimal documentation and quick loan disbursal in under 3 seconds* for Kotak Pre-Approved Customers
     
  • Attractive Interest Rates and Easy Repayment Options
    We offer attractive interest rates for our personal loans starting from 10.75% p.a. You can also check your monthly instalments instantly with our personal loan EMI calculator and conveniently plan your loan repayments for your house renovation project.
     
  • Use Funds for all Home Renovation Related Expenses
    Whether you need funds for small kitchen additions, unexpected repairs or for any major renovation, you can avail renovation loan with Kotak Mahindra Bank to fund all your house remodeling related expenses


Find out more about Kotak’s personal loan and get a step closer to fulfilling your needs.

 

 

 

 

Home Renovation Loan Guide

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Frequently Asked Questions

What can a personal loan be used for?

Personal Loan can help you meet unexpected expenses such as wedding expenditure, school or college fees, dream vacations, home renovation projects or even for the purchase of consumer durables. 

 

Applying for a personal loan is a lot easier, quick, and convenient with Kotak Mahindra Bank.Click https://www.kotak.com/en/personal-banking/loans/personal-loan.html to apply for the same. 

 

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Do I need to provide any security or collateral to obtain a personal loan?

No, you do not have to provide any security or collateral to obtain a personal loan. Personal loan is a type of unsecured loan. This essentially means that it is not backed by the guarantee of collateral. You are not burdened by the need to generate collateral like gold, property or shares, as with other types of loans. As there is no security to assure loan repayment, the bank will focus on the income and financial stability of the applicant. 

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What are the benefits of taking a personal loan with Kotak?

There are several benefits of availing a personal loan from Kotak bank. Some of the most notable benefits include:

  • prepaymentInstant approval – The bank approves the loan at a quick rate and this makes the process much easier to serve different financial purposes.
  • Easy Documentation – It comes with minimal documentation requirements to help you save time and cater to your emergency financial needs without any hassle.
  • Versatile usage – The personal loan can be used to fulfil many purposes. From funding a dream wedding to serving a medical emergency, it can be used to serve different planned and unplanned financial needs.
  • Attractive interest rate – The personal loan is made more convenient with an attractive rate of interest starting at 10.75 p.a.
  • Part Prepayment facility – In case of excess funds/financial liquidity , you can reduce your loan burden with part prepayment

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What is the eligibility criteria to apply for a personal loan?

The eligibility to avail Personal loan is as follows :

  • All Indian residents who are employees of either MNCs, Public and Private limited companies with a minimum age of 21 years and maximum age of 58 years are eligible for a personal loan.
  • Other Personal loan eligibility criteria :
    • Income Net monthly salary of Rs. 20,000/-
    • Minimum educational qualification - Graduate
    • Years in city - Minimum 1 year
    • Total work experience - Minimum 1 years

You can apply for a personal loan by following the below steps:

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

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What is the best way to apply for a personal loan?

You can apply for a personal loan by following the below steps:

 

On Mobile banking

  • Go to Apply Now
  • Personal Loan ( If eligible)

On Net Banking

  • Go to Banking
  • Apply for Preapproved Personal Loan (If eligible)

Or

By simply clicking https://rcasprod.kotak.com/personal-loan?source=website&banner=ProductPageApplyonlineTab.

Please Note: The same would be subject to approval. The time frame for the personal loan is 10 working days if approved.

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