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7 Good Reasons to Get a Personal Loan for Home Improvement

· home loan,home improvement
home improvement loan

Apersonal loan for home improvement is dedicated by lenders to helping you get funds to undertake home enhancements and much more.

If you want to know a few good reasons, why should you apply for it, then this post will help you out!

1. Large loan amount

The home improvement loan comes with a large loan amount of up to Rs.25 lakh. You can use the money for interior decoration, bathroom and kitchen fittings and more.

2. Quick loan approvals

Do you have a strong cibil score, clean repayment and consistent employment record? If yes, then lenders can sanction your application for the loan within minutes.

3. Basic documents to submit

Along with the above eligibility criteria, the documents required for home improvement loan are also basic. KYC documents, Employee ID Card, last 2 months’ Salary Slips and previous 3 months’ Salaried bank account statements will be needed.

4. Money in 24 hours

Once approved, you can get the loan amount disbursed in your bank account within 24 hours. It means that you can start using the funds immediately.

5. Easy to meet eligibility terms

If you are a resident Indian citizen under age 23-55 and working for an MNC, Public and a Private Limited Company, then you can get the loan approval instantly.

6. No collateral required

The home improvement loan is an unsecured loan facility. It means that you don’t need to submit any collateral or security for the loan approval. Lenders determine your eligibility by looking at your credit score, repayment record and income history.

7. Flexible loan tenor

You can repay the home improvement loan over a smaller or longer loan tenor ranging up to 60 months as per your repayment history.

You are now well-versed with the reasons why availing home renovation loan could be the right decision. Go ahead and start applying online if you are ready!

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