Here’s the situation: your house looks drab and you want to add some oomph to it, not just for your pleasure, but for anyone who walks into your sanctuary. Why? Because it always feels great when someone walks into your home and says, ‘wow! I love what you’ve done with your place.’ It’s not just the compliments though. When you say ‘home sweet home’, you’d rather it feels like it as well.

But getting your place renovated is easier said than done. You have to consider the cost of the materials, the labour charges, and a few other miscellaneous expenses which could end up burning a hole in your pocket.

So, what do you do?

Do you just wait till you’ve saved up enough?

What if the prices become higher by then?

Will you wait more?

Instead of wasting time, just go for a Personal Loan for Home Improvement. With a Personal Loan, you can renovate your home and avoid straining your finances. Regardless of your plan, be it painting, or remodeling, or minor aesthetic improvements, you won’t end up emptying  your savings as you can comfortably pay back the amount over the duration of your loan instead of shelling out a large amount at one go.


If you’re employed and are earning enough to clear the minimum salary requirement, you can get your loan sanctioned with ease. An unsecured Personal Loan for home improvements doesn’t require you to declare any of your assets as collateral.

The Documents Required for Personal Loan will include:

Salary Slips

The salary slips for the last three months from the date of the application need to be shown to your lender to verify your financial capability to repay the loan.

Bank Statements

Your bank statement will have the complete history of your income and expenditure which needs to be assessed by the bank to ensure that your finances are stable.

Employee Identification

If you’re employed, you will need to provide a copy of an employee ID issued by your current employer.

Personal Details

This can be a copy of PAN/ Voter Id or any government identity card providing details like your age, address, and signature.

Employment Credentials

If you’ve worked with more than one employer, you’ll have to provide the bank with letters of experience from the previous employer, copies of your form 16, and the appointment letters for all the jobs you’ve held.

With financial institutions like Bajaj Finserv you can apply for a home improvement loans online, not only does this drastically reduce the amount of paperwork, you can get almost instantaneous approval and get your renovation started in a jiffy.

Getting a Personal Loan for Home Improvement

The process for taking Personal Loans for home renovation is pretty straight-forward. If you have plans to remodel your house the total cost for renovation (which will include labour charges) must be calculated before the loan application can begin.

  • Once you’ve calculated your estimate, the bank will begin the personal verification process. This includes verification of the estimate you have provided and the legitimacy of the papers you have submitted for the loan application. The verification of the estimate will involve authorities from the bank visiting your project site. They will carefully validate the type of renovations and the corresponding costs involved before approving the loan.
  • The terms and conditions for repayment of the loan also differ from bank to bank. A majority of banks, however, provide a repayment tenure that ranges between 15- 30 years.
  • The rate of interest for an unsecured Personal Loan is considerably less than other similar loans. Having said that, don’t sign-up for a Personal Loan without doing a thorough market research. Seek advice from personal finance professionals, or visit as many financial institutions as you can and compare their offers before you lock in on a specific lender.

Apply for Personal Loan Online Check your Personal Loan Eligibility