Get Home Renovation Loan from Zype!

Q: Can I Take a Home Renovation loan for decorating my house?

Yes you can! Zype’s personal loans are unsecured loans . This means there is no restriction on the end usage of the loan.

What is a Home Renovation Loan?

A home renovation loan is specifically designed to help you finance improvements or repairs to your existing home. If you’re thinking about giving your home a makeover or addressing necessary repairs, home improvement loans from Zype offer an ideal solution. With affordable interest rates and flexible terms, these home repair loans make it easier to enhance your living space without straining your budget. Modify Your home into your dream space with a renovation loan from Zype.

When it comes to your living space, making compromises should never be an option. And with Zype’s home improvement loans, you can bridge any financial gaps. No need to sacrifice on quality or comfort.

Apply for a personal loan up to ₹5,00,000 in less than 5 minutes without any document upload or paperwork. Get approved for the loan in less than 60 seconds and receive money in your registered bank account within 24 hours.

On Zype, you can get a personal loan for home renovation on emi and choose among flexible tenures of 3, 6, 9 or 12 months.

Features and Benefits of Home Improvement Loans

Instant Approval

While Zype’s application process is quick, their approval time is quicker! After you have completed your application in less than 5 minutes you can get approved for a personal loan for home renovation in less than 60 seconds.

Quick Disbursal

After you have accepted your loan offer and completed your KYC, you will receive the loan amount directly in your bank account within 24 hours.

No Documentation

What makes Zype’s application process so quick and easy is no document upload or paperwork. All you need to do is enter your PAN and Aadhaar number along with some other basic information.

Flexible Repayment Options

It’s important to choose a repayment plan that fits your budget. On Zype, you can take a personal loan for home renovation on EMI and choose a tenure of 3, 6, 9 or 12 months.

Affordable Interest Rate

The interest rate charged on your personal loan determines whether your loan is expensive or not. Zype’s interest rate on personal loan starts at 1.5% interest rate, making it an affordable option.

No Collateral

Zype’s personal loans are unsecured loans. This means you don’t have to provide any asset like gold, jewellery, etc. against the money you borrow.

Home Improvement Loans Interest Rate

There are some charges associated with taking any home repair loans. This includes your interest rate and processing fees.
And with Zype, you will get complete transparency on all the charges and interest rates on personal loan of borrowing money.

Minimalist Table

Fees & Charges	Amount Chargeable
Interest Rate	Starting at 1.5% (monthly)
Loan Processing Charges	Processing fees from 2% to 6% on every loan
Penalty on Overdue EMIs	Penal interest and late fees will be charged to your total outstanding loan on a daily basis

Home Renovation Loan Eligibility Criteria

It’s important to check the eligibility criteria of a lender before you even apply for any home repair loans. Doing this can help you avoid making too many credit inquiries and even save time.

Zype’s eligibility criteria is simple! This is all you need to complete your application and get approved for a loan:

Age

18 years or above

Citizen of India

Indian with a valid PAN & Aadhaar card

Work experience

Salaried individual

Monthly Salary

Monthly income of at least ₹15,000

Documents Required for Home Improvement Loans

When applying for any home repair loans, you will have to submit some documents to complete your application and unlock your credit limit. While different lenders have different document requirements, it’s important to keep documents like your PAN card, Aadhaar card, etc. handy.

The best part about applying for a personal loan on Zype is that you don’t have to do any document uploads or paperwork. Here’s all you need:

Proof of Photo Identity

Complete a real-time selfie verification to complete your KYC and unlock your credit limit.

Mandatory Documents

You only need your PAN & Aadhaar number along with a few basic details to complete your application & activate your loan (Physical documents not required)

Proof of Income (Optional)

If you want to increase your approved limit, all you need to do is upload your bank statement for the last 4 months.

How to Apply for a Home Renovation Loan

On Zype, you can apply for a home renovation loan in these 6 simple steps:

1) Download the Zype app from PlayStore/AppStore & create your account by completing your mobile OTP.

2) Add PAN number along with some other basic details like name & email address to complete your application

3) Get approved for a credit offer within 60 seconds based on your profile.

4) Add your Aadhaar number & selfie verification to complete your KYC to unlock your credit line.

5) Select your desired loan amount & EMI option.

6) You will get the cash directly to your account in 24 hours.

Frequently Asked Questions

What is a Loan for Home Renovation?

A personal loan used for any form of reconstruction, house repairs or even purchase of new furniture is known as a home renovation loan.

Who can Avail of Home Renovation Loans?

This is the eligibility criteria for availing a personal loan for home renovation on Zype:

Age: 18 years or above

Citizenship: Indian with a valid PAN & Aadhaar card

Work experience: Salaried individual

Monthly salary: Monthly income of at least ₹15000

What is the Maximum Funding You Can Get for Home Renovation?

On Zype, you can get a personal loan of up to ₹500000 starting at just 1.5% per month for the renovation of your home.

How to Take Home Repair Loans?

Just download the Zype app from PlayStore/AppStore and complete a quick personal loan application in less than 5 minutes! You can get approved for a personal loan of up to ₹500000 starting at just 1.5% per month.

Can I Prepay The Home Renovation Loan Ahead Of Schedule?

Yes, you can prepay your home renovation loan ahead of schedule depending upon different lender policies.

What Are The Supporting Documents Required While Applying For The Home Renovation Loan?

When applying for a home renovation loan, you must provide proof of identity, address, income, and property ownership. However, Zype gives you with a personal loan of up to Rs. 5 lakhs for your urgent needs with minimal documentation.

Can I Take a Home Renovation loan for decorating my house?

Yes you can! Zype’s personal loans are unsecured loans. This means there is no restriction on the end usage of the loan.

Can a Home Renovation Loans Fund the Purchase of Furniture?

Yes you can! Zype’s personal loans are unsecured loans. This means there is no restriction on the end usage of the loan.

Are the Interest Rates of a Home Renovation Loans Higher than that of a Home Loan?

Because home loan is a secured loan, the interest rate charged on the loans are relatively lower. However, the interest rate you’re charged on your loans also depends on many other factors like your credit score, repayment history and monthly income.

Do I get Tax Benefit for a Home Renovation Loans?

According to the Income Tax Act, 1961, if you use the borrowed money in constructing or purchasing a piece of property, you can claim deductions. However, it’s important to ensure your loan is eligible for the tax benefits and you approach your CA before trying to claim the deduction.

What Is The Limit Of A Home Renovation Loan?

The limit of a home renovation loan depends on factors such as your income, credit score, and the value of your property. Lenders assess these factors to determine the maximum loan amount you can qualify for.