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Tata Capital > Blog

Things to Consider Before Taking a Home Improvement Loan

It is said that your house is a reflection of its owner. And this is indeed true. The way a house is kept and maintained clearly indicates the personality and status of the owners.

But just like cost of purchasing a new house is not small, similarly cost of carrying out improvement works on your existing houses is not small either. This means that one should be ready to shell out a lot of money for improvement or renovation of the house. But in case funds are not available, there is always home improvement loans that can help you get the job done.

Before taking a home improvement loan, there are few things to make note of. Lets discuss these briefly.

Do not go overboard with you home improvement loan. You can easily get almost 100% of the cost estimates of the renovation. But make sure you don’t go overboard and only borrow what is actually needed. The loan has to be paid back with interest. So it’s in your interest to reduce the loan amount.

If you think you can clear off the loan earlier by paying higher EMIs, please do so. This will save you tons of money on interest cost alone.

Home improvement loans are easily available for those who have been repaying their existing home loan diligently and on time. So you as a borrower should be willing to try and get your loan rates reduced. This will save you money in the long run.

Home Improvement Loans qualify for tax benefits. Do not forget to claim these benefits at the time of filing of returns.

Remember your credit repayment history plays a major role in approval of your new loan application. So ensure that you pay all your existing home loan EMIs on time without fail. This will help you build up a good credit score.

The Top Countries That Grant Visa on Arrival

A visa is one of the most important requirements for an international vacation. Quite often, it becomes difficult to obtain a visa due to the numerous procedures and waiting time it takes. The good news is that there are many countries that have visas on arrival for Indian passport holders. So now you may take an international trip with your family and friends without any hassles.

Know More

Following is a list of five countries where you may obtain a Visa on Arrival with your Indian passport.

#1. Thailand

Thailand is a popular tourist destination. It is a perfect destination for couples as well as for a family trip and is one of the countries with visas on arrival. It is important to remember that you need to produce your confirmed return flight ticket, proof of accommodation, as well as proof of at least 10,000 Thai Baht per person and 20,000 Thai Baht per family during your stay in the country.

#2. Bolivia

Bolivia, a country in central South America, is another country that gives a visa on arrival for 30 days. However, getting a prior Bolivia tourist visa is recommended. The country has many tourist attractions and several highlands and lowlands, which are spectacular and famous for trekking.

#3. Seychelles

The white sand beaches, majestic seascapes, temperate weather, and thriving coral reefs – these are just a few reasons to visit the beautiful country of Seychelles. Since Seychelles is a visa-free country, Indians do not require a visa to travel to this country. Instead of a visa, Seychelles issues a visitor’s permit. For this, the requirements include a valid passport, onward ticket, confirmed accommodation, and sufficient funds for the duration of your stay. In order to show funds for your stay, you may borrow a travel loan, as well as use it to cover other travel expenses.

#4. Mauritius

There is no visa required for Indians travelling to Mauritius. Known for its lagoons, reefs, and beaches, Mauritius has become a famous tourist destination. While in Mauritius, you may visit the Botanical Garden, Black River Gorges National Park, and Port Louis, among other spots.

#5. Ecuador

Ecuador is an awe-inspiring international destination and is known for its Amazonian rainforests, the mighty Andes, and beautiful beaches. Indian tourists travelling to Ecuador do not need a visa for a stay of up to 90 days.

#6. Palau Islands

Palau Islands is another country that gives visas on arrival to Indian nationals, allowing a maximum stay of up to 30 days in the country. This country’s visa on arrival can be extended twice, with a charge of a specific amount for every extension. A minimum of one week before the current Palau Islands tourist visa on arrival expires, you must request an extension.

#7. Jordan

Jordan is yet another country with visas on arrival. Jordan has always maintained friendly relations with India. In order to further enhance ties, the Jordanian government extends Visa on Arrival to Indians, with a validity of up to 30 days, visiting the country for the purpose of tourism.. However, in order to obtain the visa, you must acquire the Jordan Pass.

At the time of visa issuance, you have to produce a return air ticket, confirmed accommodation, and a cash amount of USD 1000 to cover your trip.

#8. Sierra Leona

One of the countries having visas on arrival is Sierra Leona. It is valid for Indian nationals travelling to Sierra Leone for tourism. All travellers entering Sierra Leone must have a valid passport or other forms of identification.

Among many countries that give a visa on arrival, its visa is for entry at any time during a designated three-month period, and permits stay of up to one month. After the initial entrance, you may request an extension from within the nation.

Final Thoughts

There are numerous other places across the globe that offer a visa on Arrival facility. Laos, Qatar and Sri Lanka are some of the countries with visas on arrival. So pack your bags and head off to these destinations for a relaxing and full-filled holiday.

If you are thinking of travelling to any of the aforementioned destinations, you may explore the option of a personal loan. Such a loan may be used to fulfil your dream of going on an international vacation.

There are numerous lenders in the market that provide such loans at competitive rates. You may borrow a personal loan for travel that will fund your trip rather easily.