Every home required maintenance after a few years. This maintenance is expensive a middle family is afforded it. home improvement loan covers all expenses, whether you want to renovate, you want to change its design or want to add some extra room. This is a secured loan the interest rate is between 9% - 12.99%.
If you see there are multiple lenders who offer home renovation loan, But PNB Housing Finance is one of then offer low-interest rates on home improvement loans.
Eligibility Criteria:
The eligibility criteria are quite simple, you respected age will not be more than 70 years.
Interest Rates:
The interest rate varies on the individual person, salaried person, and self business person. if you avail 75 lakh loan the interest rate ranges from 9.10% to 12.25%. for salaried or individual persons its 9.10% to 12.50%.
These few things you should know while going to applying for a home improvement loan:
- The contribution should be 10% total cost of your house.
- The amount you should submit before loan disbursement
- The home renovation or improvement should finish within 6 months from the loan disbursement
- you can repay your loan amount through EMI over 30 years. you can calculate your interest rate through the home loan calculator.
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