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Personal Loan for Home Renovation

Planning to redo your kitchen, furnishing or interiors, or finally paint the house? A personal loan for home renovation can help you get started with quick funding. In this guide, we’ll explore key features, pre-approved offers, comparison of personal loans for home renovation and home loans for home renovation to make an informed decision.
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Get up to ₹50 Lakhs starting at 9.98%

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
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Know Your Chances of Approval

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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Why Personal Loan for Home Renovation

Personal loans are a convenient option for quick funding of home renovation projects. It’s a simple way to access quick funds for upgrades, repairs, or even complete makeovers - without needing to mortgage your property.

Key Features of Home Renovation Loan

  • Interest Rates: Start from 9.98% p.a. Some PSU banks may offer lower rates for eligible borrowers.
  • Loan Tenure: Up to 5 years, with some lenders offering longer repayment periods
  • Loan Amount: Usually up to Rs 5 lakh
  • Quick Processing & Disbursal:
    • Processing time: Usually 2–7 working days
    • Many banks offer end-to-end digital processing of personal loan applications
  • No Collateral Required: These are unsecured loans

Fund Your Home Makeover with Best Personal Loan Offers on Paisabazaar

At Paisabazaar, Personal Loans for Home Renovation are offered by top banks and NBFCs, including Axis Bank, Bajaj Finserv, SMFG India Credit, HDFC Bank, IndusInd Bank, YES Bank and Tata Capital.

Bank/NBFCInterest Rates (% p.a.)
Aditya Birla Finance10.99 onwards
Axis Bank9.99 onwards*
Bank of Baroda10.15-18.00
Bajaj Finance Limited10.00-30.00
Bank of India10.85-16.15
Bank of Maharashtra8.75-13.55
Canara Bank9.70-15.15
Central Bank of India9.85-11.65
Cholamandalam IFC10.00-28.00
Dhani Loans & Services Ltd.13.99 onwards
Federal Bank12.00 - 22.50*
HDB Financial Services10.00 - 35.00
HDFC Bank9.99 onwards
Hero FincorpUp to 30*
HSBC Bank9.75 onwards
ICICI Bank9.99 onwards
IDFC FIRST Bank9.99 onwards
IIFL Finance12.00 - 28.00
Indian Overseas Bank10.25 onwards
IndusInd Bank10.35 onwards*
Kotak Mahindra Bank9.98 onwards*
L&T Finance11.00 onwards
Mahindra Finance8.00 - 25.00
Mannapuram Finance18.00 - 24.00
Moneyview14.00 onwards
Muthoot Finance13.50 onwards
Piramal Finance12.14 onwards
Poonawalla Fincorp9.99 onwards
Punjab & Sind Bank9.60-13.85
Punjab National Bank10.25-16.80
Shriram Finance11.00 onwards
Tata Capital10.99 onwards
UCO Bank9.95 - 13.20
Union Bank of India8.75 - 12.55
Note: Rates as of 17th April 2026

*Paisabazaar special rates

Benefits of Taking a Home Renovation Loan via Paisabazaar

  • Loan offers from across top lenders, i.e., HDFC Bank, Axis Bank, IndusInd Bank and more
  • Know Your Chances of Approval
  • 100% Digital Process
  • 30+ Lending Partners
  • Pre-approved Offers with Instant Disbursals
  • Expert Assistance

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Unlock Pre-Approved Personal Loans for Home Renovation!

Many banks and NBFCs offer pre-approved personal loans to existing customers with a strong credit profile. These pre-approved personal loans are disbursed within a few minutes or hours of making a loan application. This saves time when you don’t want delays in starting your home renovation project.

Highlights:

  • Instant Disbursal: Within minutes or hours of application
  • Minimal Documentation: Often pre-verified using your existing bank records
  • Digital Process: In most cases, apply via mobile app or net banking

Personal Loan for Home Renovation vs Home Loan

Here’s a side-by-side comparison of a personal loan for home renovation and a home loan:-

Aspect Personal Loan for Home Renovation Home Renovation Loan
Loan Type Unsecured loan Secured Loan
Interest Rates Usually starts from 10.50% p.a. Usually starts from 7.85% p.a.
Loan Amount Usually up to Rs 5 lakh, depends on credit profile of an applicant Can go up to Rs 20 lakhs, depends on property value, LTV ratio, income, etc.
Tenure Usually up to 5 years Usually up to 30 years
Processing Time Quick, usually 2–7 working days Longer processing time, usually 1–2 weeks or more
Collateral Required Unsecured, no collateral required Secured, property used as collateral
Loan Disbursal Time Fast disbursal—Can be approved & disbursed within hours to a few days (especially with pre-approved loans) Comparatively, slower disbursal due to documentation and property verification
Loan Usage No end-usage restrictions Primarily for home renovation or improvement
Best For Small to medium renovation needs that require quick processing Larger renovation projects that need higher loan amounts, with longer tenures

Which one is right for you

  • If you need funds quickly and your home renovation project is smaller or moderate, a personal loan is a better choice.
  • On the other hand, if you're planning a major renovation and need higher loan amounts with lower interest rates, a home loan for renovation can be the best fit.

Already Have a Home Loan? Consider a Top-up for Renovation

If you have a home loan and need additional funds for your home renovation or improvement, a top-up home loan can be a cost-effective option. Home loan top-up are offered over and above your existing home loan, with lower interest rates than personal loans and no additional collateral required. This also saves time from going through a fresh loan application process.

Check below the comparison of top-up home loan rates with personal loan interest rates:-

Lender Top-up Home Loan Interest Rates Personal Loan Interest Rates
IDFC FIRST Bank 8.85% p.a. onwards 10.99% p.a. onwards
Bank of Baroda 9.25% p.a. onwards 11.05%-18.50% p.a.
SBI 8.30%-10.80% p.a. 10.30%-15.30% p.a.
Bank of Maharashtra 8.35% p.a. onwards 9.50%-14.30% p.a.
Punjab and Sind Bank 9.05%  p.a. onwards 10.60%-13.65% p.a.
Indian Overseas Bank 9.90% – 10.50% p.a. 10.50% p.a. onwards

Final Word: What Fits Your Home Renovation Plan

A personal loan for home renovation is a smart choice when you need quick funds for small to mid-sized projects like upgrading your kitchen, installing modular furniture, or repainting your home - without lengthy paperwork or collateral.

But if you’re already repaying a home loan or planning a large-scale renovation, consider home loan top-ups or home renovation loans for lower interest rates and longer repayment flexibility. However, the interest rates depend on the credit profile of the applicant and the lender’s policies.

Before You Apply:

  • Compare loan offers across banks and NBFCs. You can use Paisabzaar to check your loan eligibility and choose the offer that suits your financial needs.
  • Choose an optimum repayment tenure based on your repayment capacity
  • Check for charges like processing fees or prepayment penalties
  • Check for pre-approved offers for instant access to funds

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
All Your Needs

FAQs

The interest rates for a personal loan for home renovation usually start from 10.50% p.a., depending on the lender’s risk based pricing models and the applicant’s credit profile.

A home renovation loan is secured and offers lower interest rates and longer tenures. A personal loan is unsecured, usually has higher interest rates, but is quicker to get and has no end-use restriction.

A personal loan for home renovation is usually disbursed within 2 to 7 working days, or even instantly if the loan is pre-approved. On the other hand, a Home Renovation Loan may take around 1 to 2 weeks for approval, as it involves additional property-related checks and verifications.

Missing EMIs on your home renovation loan can lead to penalty charges, bounce charges, impact your credit score, and in case of secured loans, may eventually result in repossession of the mortgaged property.

Lenders usually charge 1% to 5% of the outstanding loan amount on prepayment and foreclosure of the fixed interest rate personal loan. Note that the RBI has barred all lenders from charging any fees on prepayment of personal loans availed at floating interest rates.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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