Get the Tata Capital App to apply for Loans & manage your account. Download Now


Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer

Tata Capital > Blog > Home Repair Loan > Guide to Know How a Home Renovation Loan Works

Home Repair Loan

Guide to Know How a Home Renovation Loan Works

Guide to Know How a Home Renovation Loan Works

Are you eyeing an all-new modular look for the kitchen? Especially when monsoons arrive, renovating and repairing the house may be on your mind. Whether it is fixing a leaking roof or getting a fresh coat of paint, a renovation can breathe new life into your home. However, it comes at a cost. The good news – easily available personal loans make it easy to fund your renovation and repair plans. Read this guide to find out how you can use a renovation loan for maintenance, new flooring, internal repairs, etc. Here’s all you need to know about the inner workings of a renovation loan.


Before you apply for a personal loan or a home renovation loan, you must know the eligibility criteria. Age and employment are one of the key factors lenders use to determine whether you are eligible to avail a personal loan. Lenders will also look at your employment status, history, and stability to assess your repayment capability. The evaluation norms for salaried applicants are less extensive as compared to those that are self-employed, who have to furnish a range of documents and proofs.


When you apply for a loan, the lender will ask for different documents at different times, depending on the nature of your loan. Some of these documents are-

  • KYC documents: Aadhar, Passport, and PAN card of all applicants
  • Income proof: Bank statements, salary slips, IT returns, proof of business, etc.
  • Qualification documents: Graduation degree and other certificates
  • ID proofs

When to consider a home renovation loan?

If you know that a renovation project is going to reduce your long-term costs and increase the value of your house, don’t think twice before applying for a renovation loan. In fact, renovation can sometimes increase your property’s value by an amount greater than your costs.

Before you zero in on a lender, do your homework. Meet with them, get a sense of interest rates, and remember that renovations take both time and patience. Of course, renovations and upgrades are not easy on your pocket either. To fund your home renovation with ease, you can apply for a personal loan at Tata Capital where you get borrower-friendly deals on home renovation loans. This means you no longer have to worry about home maintenance bills leaving a burning hole in your pocket. You can avail a high loan amount, starting at Rs. 1 lakh, at a rate of interest as low as 8.5%, with the payments all made directly to your account. With a flexible tenure of 1-10 years with minimal documentation and no part-repayment fees up to 25% part personal loan repayment, a Tata Capital personal loan is just right for your renovation needs.

Applying for a home renovation loan is incredibly simple. Simply log on to the Tata Capital website and fill out the necessary details to get a personalized principal eligibility and interest quote!