Clix > Personal > 5 Ways How a Personal Loan for Home Renovation Can Ensure You Do Not Burn a Hole in Your Pocket

5 Ways How a Personal Loan for Home Renovation Can Ensure You Do Not Burn a Hole in Your Pocket

Clix November 16, 2021

 

Walls need a fresh coat of paint, cracks in the bathroom tiles need repairing, looking forward to building a patio, want to turn a room into your kids’ study room? It seems like it is time to plan a home renovation, expansion, or improvement. However, the costs may quickly build up and drain your savings faster than you thought. This is why it is wiser to keep your savings intact and fund the home renovation project with a personal loanThese are quick personal loans that you can avail from the comfort of your home without any collateral, security, or guarantor

Looking forward to upgrading your house without burning a hole in your pocket? Let us see how

Why You Need a Personal Loan for Home Renovation?

Once you decide to renovate your house, you have to list down the things to be done, calculate the costs, and set a budget. However, sometimes, things do not go as planned, and you may need to go past your budget limit. You would not want to splurge all your savings into your home renovation, as you must keep some money aside for emergencies and unexpected expenses. This is where a personal loan is worthwhile.

When you apply for a personal loan, you get instant money to fund your home renovation project. You are not forced to repay the money immediately. You have flexible repayment tenure to repay the borrowed amount in easy EMIs spread across several months or years. So, when you have someone to fund your home renovation project, why should you spend your savings and emergency fund for it?

How is a Personal Loan Beneficial for Your Home Renovation?

These are a few ways how a personal loan can fund your home renovation without burning a hole in your pocket.

  1. Flexible Repayment Plans

Most people hesitate to apply for a personal loan because they are worried about the EMIs. However, when you apply for a home expansion loan from Clix Capital, you get great flexibility in terms of your repayment plan and schedule. You can choose your repayment term from 12 to 48 months, depending on the EMI amount you can conveniently afford every month. This makes it easier for you to repay the borrowed amount in time and improve your credit score.

  1. Competitive Interest Rates

One major advantage of availing a personal loan is they are available at competitive interest rates due to their high demand. Do some research and compare lenders offering different interest rates on their personal loans. However, remember, the interest rate is not the only factor you must consider while selecting a lender. Even a personal loan with a low interest rate may cost higher if the lender’s fees and charges are unreasonably high.

Therefore, don’t forget to check those fees and charges while looking for a personal loan with competitive interest rates.

  1. Generous Loan Amount

Home improvements can be costly, and if you want to apply for a personal loan for home expansion, you may find lenders offering generous amounts as loans to fund your project. The loan amount provided to you depends on your income, repayment capacity, and credit score. However, it’s not wise to apply for the entire loan amount you are eligible for. You must calculate your expenses first and apply for the minimum loan amount sufficient to fund your project. After all, you would need to repay the borrowed amount along with the interest rate.

  1. Fast Loan Approval

You no longer need to wait for days and weeks to complete the loan application process and get your loan approval. These days, NBFCs allow you to complete the entire loan application procedure online. If everything goes smoothly, you may get your loan approval in as little as 15 minutes* at Clix Capital. Once approved, you quickly get your loan amount in your bank account so that you can immediately start your home renovation project. Fast approval is very helpful if you need quick funds to get an emergency repair done.

  1. Improves Credit Score

Apart from protecting your savings and providing you funds to cover your home renovation-related expenses, quick personal loans also give you a chance to improve your credit score. By easily availing a personal loan and repaying its EMIs on time, you improve your credit score significantly. As a result, you become eligible to avail more loans in the future at competitive interest rates.

Features and Benefits

When you apply for a personal loan for home renovation from Clix Capital, these are some of the most sought-after features you avail:

    • Ample loan amount: We offer personal loans of up to ₹ 25 lakhs, which you can avail according to your requirement and repayment capacity.
    • Easy online application: The entire application procedure can be completed online from the comfort and privacy of your home.
    • Fast approval within minutes: If everything goes smoothly, you may get your loan approval within 15 minutes*.
    • Flexible repayment plans: You get 12 to 48 months of time to repay your borrowed amount in easy EMIs.
    • Minimal personal loan documents: Clix Capital requires minimal personal loan documents to determine your eligibility, including your address proof, identity proof, and income proof. If your KYC is updated with Aadhaar or PAN, you don’t even need to upload or submit your documents anywhere. You can have them verified online within minutes.
    • Easy eligibility conditions: At Clix Capital, you need to fulfil simplistic eligibility conditions to apply for a personal loan.

Steps to Apply for a Personal Loan

Looking forward to apply for a home expansion loan from Clix Capital? These are the steps to follow:

    • Visit the Clix Capital website
    • Check your credit scoreand ensure that it is more than 725
    • Fill up the online loan application form
    • Get your personal loan documents verified online, which takes just a few minutes. However, if your KYC is not updated, you will have to provide some necessary details
    • Once you receive your loan approval, accept the loan offer
    • Activate the e-mandate for regular EMI payments on time

At Clix Capital, you can get quick personal loans and begin your home renovation right away. In today’s digital world where everything can be conducted online, we also make personal loan applications online. Apply for a personal loan for home renovation now and secure your loan in a hassle-free manner to fund your home renovation without burning a hole in your pocket.

 

For any queries, find us on Facebook, Instagram, LinkedIn, Twitter, or WhatsApp

You can also reach out to us at hello@clix.capital or call us at 1800 200 9898

* T&C Apply

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