Renovation is one of the most common reasons people take a personal loan. Whether it's waterproofing before the monsoon, a modular kitchen or new furniture, a personal loan lets you do the work now and pay in fixed EMIs.
What it can cover
- Repairs, waterproofing and painting
- Kitchen and bathroom remodelling
- Flooring, electrical and plumbing work
- Furniture, fittings and appliances
Plan the project
- Get written quotes from contractors and add a buffer of 10 to 15% — renovation costs tend to grow.
- Schedule payments — contractors usually want an advance and stage payments.
- Decide what savings will cover and borrow the rest.
- Pick a tenure and EMI that fit your budget with the EMI calculator.
Personal loan or home improvement loan?
Some banks offer home improvement loans secured against the property, which may have lower rates but more paperwork and property documents. A personal loan is usually unsecured and simpler, which suits smaller projects and furniture or appliances. Compare the full cost in each lender's Key Fact Statement.
How to apply with Oxon Fintech
Share your details once, link your bank through Account Aggregator and see offers from our lending partners. Check the eligibility criteria first.