Is your house in dire need of a renovation? Or maybe it needs a simple flip and fix to increase its renting value? What will you do in such a situation? No need to think further. With MoneyTap you can get approved for a line of credit and use the funds from it as home renovation loans when you're in need of home improvement.
Home Renovation Loan Interest Rate and Eligibility
Rate of Interest
Varies from 13% to 24.03% pa
23 or above
Minimum Salary Required
Starting from ₹ 3000 to ₹ 5 lakh
₹ 499 plus GST
MoneyTap’s Personal Home Renovation Loan Features and Benefits:
Receive real-time approval on a credit line of up to ₹ 5 Lakh
Withdraw as little as ₹ 3,000 or as high as your approved limit, the choice is yours to make
Pay interest only on the amount you withdraw and not on the entire amount allocated to you
MoneyTap’s credit card lets you enjoy 100% cash withdrawal as well as special rewards
Repay in flexible EMIs by choosing a payment period that works for you which could be anywhere between 2 months to 36 months
Your proof of address and ID proof are the only two documents we need to begin with
After moving into our first house, we were met with so many unexpected expenses. We took a loan from MoneyTap to help us furnish the place. After repaying the loan in 3 months, the entire amount is back in our MoneyTap credit line waiting to be used. It’s like cash we use to beautify our house whenever we want. Next up; modular kitchen. Thanks, guys!
Upgrade your existing home to a contemporary design
Furnish your new home and pay for fittings, furniture, etc.
Pay for your rent or down-payment
Want to get internal and external repairs
Want to expand your home
Your kitchen needs fixing or a new look
Increase the resale value of your home with minor repairs
Home improvement is bound to pay off as it increases the property value of your home and can also help improve your lifestyle. Renovations can take up a lot of your cash and it isn’t wise to dip into your savings always. Instead, you can simply take advantage of a home improvement loan and do the needful without impacting your overall financial liquidity using MoneyTap as we offer a line of credit that can be used as a personal loan or as a credit card for related purchases!
When to Consider a Personal Home Renovation Loan:
You don’t have enough home equity to borrow against
You need a one-time loan for a smaller, single project
For minor or major renovations
You want to be able to budget for the same payment each month
You don’t want to utilize your existing savings on a home renovation project
Download for FREE!
With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.
The various alternatives to finance home improvements are:
A home equity loan
Personal line of credit
Since home renovations come at a hefty price, you may not always have the cash up front. In this case, having a personal line of credit from MoneyTap accessible to you 24/7 is the best way to pay off your home renovation expenses when you need.
MoneyTap’s personal loan 2.0 works as a quick and convenient option if you need a home repair loan. All you need to do is download the app and complete the paperless application and KYC documentation process. The loan is disbursed after a few days of approval.
With MoneyTap you get the flexibility to choose affordable EMIs for a convenient tenure that ranges from 2 months to 36 months.
The interest rates are comparatively low and will only be charged on the amount used. This feature makes it a perfect solution for home renovations where you can never estimate the actual cost due to ongoing expenses.