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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important nondeposit taking Non-Banking Financial Company (NBFC) and the holding
company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans,
Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 68,400 employees, the businesses of ABCL have a nationwide reach with over 1,740 branches and more than 200,000 agents/channel partners along with several bank partners.
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68,400
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2,00,000+
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What is a Personal Loan for Home Renovation?
A personal loan for home renovation is a financing solution designed to help homeowners upgrade, repair, or remodel their homes without straining their savings. Whether you want to enhance your home’s aesthetics, improve functionality, or undertake essential repairs, this loan provides the necessary funds with convenient repayment options. Home renovation loans often come with competitive interest rates, flexible tenure, and minimal documentation.
Aditya Birla Capital offers Personal Loans for Home Renovations with attractive features. You can get loans up to ₹15 lakhs at pocket-friendly interest rates starting from 10.99% p.a. No collateral is required for the loan, and you get a flexible tenure to repay the debt without hurting your budget.
By taking this loan, you can increase your property's value while ensuring a comfortable living space. This loan is an ideal choice for homeowners looking to modernise their living spaces without financial burden.
Our Personal Finance Products
Enjoy affordable repayments and a flexible tenure with Aditya Birla Capital
Get an instant line of credit with Aditya Birla Capital Flexi Loan and pay interest only on the amount borrowed.
Get quick personal loans for any emergency. Enjoy a digital application and sanctioning process that delivers funds within minutes.
Get all your EMI payments under one roof at an affordable monthly payment system.
Get quick access to funds to meet your urgent needs
Features of Personal Loan for Home Renovation
Affordable Interest Rates
Enjoy competitive rates tailored to your renovation needs.
Flexible Repayment Options
Choose a repayment tenure that aligns with your financial capacity.
Quick Loan Processing
Get fast approval and disbursal to start your home renovation without delay.
High Loan Amount
Get a substantial amount based on your home’s value and renovation costs.
Minimal Documentation
Experience hassle-free application process with basic income and property documents.
Tax Benefits
Avail tax deductions on interest paid under Section 24(b) of the Income Tax Act.
No Collateral Required
Unsecured options available for eligible applicants.
Eligibility Criteria for Personal Loan for Home Renovation
Documents Required for Personal Loan for Home Renovation
- Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID.
- Address Proof: Utility bills, Aadhaar card, passport, or rental agreement.
- Income Proof: Salary slips (last 3 months) or income tax returns (for self-employed).
- Bank Statements: Last 6 months' statements showing salary credits.
- Property Ownership Proof: Sale deed, property tax receipt, or loan agreement.
- Renovation Estimate: Detailed cost breakdown from a licensed contractor or architect.
Personal Loan for Home Renovation Eligiblity and Documents
- Age: Applicants must be between 21 and 65 years.
- Employment Type: Available for salaried and self-employed individuals.
- Income: Minimum monthly income as per lender’s requirements.
- Property Ownership: The applicant must own the house to be renovated.
- Credit Score: A CIBIL score of 650 or above is preferred for easy approval.
- Work Experience: Minimum 2 years for salaried employees and 3 years for self-employed individuals.
Types of Personal Loan in India
How to Apply for Personal Loan for Home Renovation Home Renovation
Check Eligibility
Visit the Aditya Birla Capital website or use the Aditya Birla Capital App to check your eligibility for a loan for renovation of house. Use the personal loan eligibility calculator to review the loan amount you may qualify for based on your income and repayment capacity.
Complete the Online Application
Fill out the Personal Loan for Home Renovation application form by providing accurate personal, employment, and financial details on the Aditya Birla Capital website or app.
Upload the Required Documents
Submit the necessary personal loan documents, including identity proof, address proof, income proof, bank statements, etc. for verification.
Verification and Loan Approval
The Aditya Birla Capital team verifies your application details and supporting documents. Once the verification process is complete and you meet the eligibility criteria, your loan application is approved.
Receive Instant Loan Disbursal
After approval, the amount of Personal Loan for Home Renovation is disbursed directly to your registered bank account, and you can use this to renovate your house.
Fees and Charges for
Personal Loan for Home Renovation
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
Customer Satisfaction Stories
Mr. Hiralkumar Ashokbhai Patel
Aditya Birla Finance Customer
Mr. Pramod Kumar Saini
Aditya Birla Finance Customer
Ashesh Shah
Aditya Birla Capital Limited
Mr. Baijnath Choudhary
Aditya Birla Capital
Mrs. Snehal Rajpure
Aditya Birla Finance Customer
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ABC Of Personal Loans
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.