Home Renovation Loan
Renovation of Home is a big task. If you want to expand your home, want to add a new room or another balcony or another expansion in structure you again need finance. Home Renovation Loan is the best option for it.
You may also use it to conduct paint or repair work and purchase furniture and fixtures and other gadgets such as fan, geysers, air conditioners etc.
Home Renovation Loan
Home Renovation Loan is a part of Top Up Loan where applicant uses the loan amount for existing Home Renovation like additional construction, flooring, false ceiling, etc. Borrower preferred this loan because it is cheaper than spending their own money.
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Benefits of Home Renovation Loan
Tax Benefits
You can also avails tax benefits on it. You will be eligible for a deduction of up to Rs.30,000 on the interest paid per financial year.
Interest Rate
Rate of interest of Home Renovation Loan are much affordable than other loan.
Balance Transfer Facility
Balance Transfer facility allows borrower you to transfer the remaining credit amount to another lender if they offer a lower interest rate. In this way, you can save more on your monthly instalments.
Top Up Loan with Refinance
At the time of refinancing of loan, you can get the 10-25% top up of the laon with the outstanding loan amount with lower rate of interest and other services subject to Income and LTV value of property.
Repayment Tenure
You can select the repayment tenure which is most suitable for you, so that you can repay the loan in easy instalments.
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