Personal Loan for Home Expenses

Personal Loan for Home Expenses

Renovation costs tend to go over the budget. Check your loan offer in 2 clicks and spread the costs across months.

₹40,000 - ₹50 Lakh

You may be eligible for a pre-approved offer

Enter mobile and OTP | Check offer | Plan your renovation

Using personal loan for home expenses

Setting up your dream home — or upgrading the one you already live in — can be exciting, but also expensive. From a brand new kitchen to a complete living room makeover, costs can pile up quickly. And then there are the surprise repairs that no one plans for. Instead of dipping into your savings, consider a Flexi Hybrid Term Loan — designed to help you manage both planned upgrades and unexpected home expenses with ease.

  • Cover costs that your home loan does not

    Check your personal loan offer with phone number and OTP → Apply online in 5 minutes → Borrow as needed, pay interest only on what you withdraw*.

    Most home loans cover just 75–80% of your total home cost. That means you still need to pay upfront for expenses like: stamp duty and registration, brokerage fees, interior set-up and customisation.

    Pro-tip: A personal loan helps you cover these extras without compromise — and with the Flexi facility, you can borrow only what you need, when you need it.

  • Furnishing and interior

    Furniture, lighting, curtains, upholstery — these finishing touches make a house feel like home. And now, with more premium and designer options easily available, it’s tempting to go for that luxurious finish.

  • Major repairs and maintenance

    Every home needs upkeep. Whether it's a plumbing overhaul, structural work, or roof repairs, these large-scale fixes can run into lakhs — especially if you need to bring in civil contractors or an architect.
    A personal loan for home repair helps you manage these expenses without delay — so you don’t end up with bigger repair bills down the road.

  • Smart home

    Make your home work for you smarter - voice-controlled lights. App-based home security. Wi-Fi-enabled appliances.

    Pro tip: Tech upgrades not only make your home more comfortable — they also boost resale value. With a Flexi Loan, you can finance your smart home transformation at your own pace.

*Terms and conditions apply.

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Features and benefits of personal loan for home improvement

  • 3 different loan types - Interest-only EMI option

    We have different loan types that you can choose from, based on your needs - Term Loan, Flexi Term Loan, and Flexi Hybrid Term Loan.

  • Money in your account in 24 hours*

    You will get the personal loan amount in your bank account within 24 hours* or, in some cases, on the same day of approval.

  • Loan of up to Rs. 55 lakh

    You can take a loan ranging from Rs. 40,000 to Rs. 55 lakh - allowing you to manage different types of expenses.

  • Long repayment period – up to 96 months.

    You can spread your repayment over 8 years, which means manageable EMIs right from the start.

  • Approval in just 5 minutes

    Complete your application online and get quick approval for your instant personal loan.

  • No part-prepayment charge on Flexi Loans

    With our Flexi Loans, you can withdraw and part-prepay at no extra charges – as many times as you want.

  • No guarantor or collateral needed

    You do not need to provide any collateral such as gold ornaments and property papers to get the loan.

 *Terms and conditions apply.

These features make this one of the best personal loans in India.

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Eligibility criteria for personal loan for home renovation

Depending on your profile, you may already be eligible for a pre-approved offer. In that case, you do not have to check eligibility criteria separately.

Find out your loan offer in just two clicks. Offer or no offer, you can get our personal loan by meeting these 5 simple eligibility criteria: 

  • Nationality: Indian
  • Age: 21 years to 80 years**.
  • Employed with: Public, private, or MNC.
  • CIBIL Score: 685 or higher.
  • Customer profile: Self-employed or Salaried

*You should be 80 years** or younger, at the end of the loan tenure.

Depending on your offer, you may need to keep a few documents ready when applying for the loan. Know more about personal loan eligibility and documents.

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How to apply for a personal loan for higher education

  • Step-by-step guide to apply for a personal loan

    1. Click on ‘CHECK ELIGIBILITY’ on this page.
    2. Enter your 10-digit mobile number and the OTP sent to your phone.
    3. Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
    4. Now, click on ‘PROCEED’ to visit the loan selection page.
    5. Enter the offer or loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid Term.
    6. Choose the repayment tenure and click on ‘PROCEED’.
    7. Complete your KYC and submit your application.

Our representative will call you for the next steps. The loan amount will be transferred to your bank account after successful verification of your documents.

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Key offerings: 3 loan types

Compare loan variants

What are the uses of Personal Loan

Frequently asked questions

Overview

Eligibility

What is a personal loan for home renovation?

Getting a Bajaj Finserv Personal loan is a simple way to pay for the costs of your home renovations including repairing, interior or expanding your home. These personal loans have simple eligibility criteria and offer quick disbursal.

Can I take a personal loan to renovate my house?

Yes, anyone can apply for a personal loan to renovate their homes. You can use this loan to pay for remodelling, furnishings, plumbing, tiling, flooring, and any other home expenses. Check your pre-approved offer today and plan your renovation.

What is the rate of interest on a personal loan for home expenses?

Bajaj Finserv Personal Loan for home expenses is offered at a competitive personal loan interest rate ranging from 10% p.a. Our fees and charges are written clearly in our loan documents. We advise you to review these thoroughly before applying.

Is personal loan for home renovation tax-free?

Personal loans for home renovation or house renovation loan are not tax-free. The interest paid on personal loans is generally not eligible for tax deductions. It's essential to consult a financial advisor for specific information about tax implications related to personal loans.

Does a personal loan for home improvement come under 80C?

No, personal loans for home improvement or home improvement loans do not fall under Section 80C of the Income Tax Act in India. Personal loans are not eligible for these benefits.

What is the difference between home loans and personal loans for home renovation?

Home loans and personal loans for home renovation differ in their purpose and terms. Home loans are secured loans, specifically designed for property-related expenses, offering lower interest rates and longer repayment periods. Personal loans or home improvement loans are unsecured, and have higher interest rates and shorter terms, making them suitable for smaller home renovation projects.

How much loan can I take for home improvement loans?

The loan amount for a house renovation loan depends on your eligibility, credit score, and policies. Check your eligibility in just 2 steps and plan your renovation budget.

What is the maximum limit for repair and renovation under a home loan?

The maximum limit for repair and renovation under a home loan usually depends on the lender and property value.

What is the maximum tenure for a home renovation loan?

The tenure for a house renovation loan varies by lender but usually ranges from 12 months to 96 months.

What are the document requirements to get a personal loan for home expenses?

The following documents must be submitted while applying for a personal loan for home improvement:

  • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months
  • Piped gas bill
  • Pension order
  • Letter of Allotment of Accommodation Issued by Employer
  • Property / Municipal tax receipt
  • Utility bill
  • Real-time image / photograph
  • Ration card
Can I take a personal loan for house construction?

Yes, you can take a personal loan for house construction. While it's unsecured and faster to avail, the amount may be lower and interest rates higher compared to a home construction loan specifically designed for such purposes.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.