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

Is it possible to change my personal loan Installment date? Are there any charges applicable?

Yes, it is possible to change the Installment date. The dates are available between 2nd and 10th of every month.

Changing of EMI date will attract rescheduling charges and PDC Swap charges* per instance plus applicable GST. You would need to provide a request mentioning the reason for the EMI date change and send the rescheduling charges to us 7 working days pre/7 working days post the EMI date.

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When can I swap my PDC's and what are the charges?

PDC's need to be swapped at least 7 working days pre/7 working days post the Installment date.

 Charges* applicable would be Rs.500/- per instance plus applicable GST.

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What do I need to do, in case I want to opt for an ECS mode for making my Installment payments instead of PDC?

You need to do the followings:

  • You would need to sign an ECS Mandate form.
  • One security cheque to be drawn in favor of 'Kotak Mahindra Bank'. This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than the loan amount'.
  • Three security cheques to be drawn in favor of 'Kotak Mahindra Bank '.This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than the EMI amount'
  • PDC swap charges* will be applicable at Rs. 500/- per instance plus applicable GST.

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How can I get my Statement of Account?

You can download your statement of account for free.

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How can I get my new address updated on my Personal loan?

Please follow the below procedure:

 

  • You would need to call our 24*7 helpline number 1860 266 2666 (local call rates applicable) or visit the nearest Kotak Mahindra bank branch to inform about the change in correspondence address
  • You would need to carry the photocopy and original document of your new address for verification. Some of the address proofs are electricity bill/passport copy/ration card/aadhaar card/utility bill etc
  • The new address will be updated in the bank’s records within 2 working days post submission of the above mentioned documents.

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