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Do you want to elevate your house and add a touch of your personality and style? Revamp your house conveniently with our House Renovation Loan. Whether you want to renovate your living room or give a modern look to your bathroom, Tata Capital's multipurpose loan will fit all your requirements. From restyling interiors to basic repair and maintenance, our loan for renovation is just what you need. Create a home you deserve to live in. We’re here to help you.
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Always wished for a shower at the end of a stressful day? With just a few tweaks, you can turn your old bathroom into a zen retreat that can rival even the best spas. Choose colours that can soothe and de-stresses you and add flourishing personal touches that cater to your needs.
Think a home renovation is only for indoor spaces? Think again. Turn the extra space outside your house into an outdoor patio. Add outdoor seating to host guests during the festive season.
Like all loans, home renovation loans have certain eligibility requirements to help lenders have a surety that they will receive loan payments on time. But with Tata Capital, you don’t need to worry about them. That’s because we ensure our eligibility criteria are easy to meet, making it even easier to apply for our loans. Here’s a preview of what our eligibility requirements look like.
Not sure if you meet our eligibility requirements? Use our personal loan eligibility calculator to find out your eligibility. Enter your monthly income, employer name, loan tenure and monthly expenses, and we’ll tell you the maximum loan amount you can qualify for based on them.
Note that we will verify your loan eligibility during the loan application process by checking your documents. So, make sure you provide all the necessary copies and that they are up-to-date. Here’s a list of documents we check for your convenience.
Photo identity proof - This can be your voter ID, passport, driving licence, Aadhaar card and the like
Address proof - This can be the same documents as your photo identity proof, such as your voter ID and passport.
Salary slips - You need to submit salary slips for the last two months
Income proof - You need to submit your salary credit or your bank statements for the previous six months.
Employment certificate - This certificate must show that you have at least one year of continuous employment
You’ll notice that our document requirements aren’t extensive. This is because we want to make the loan application process less stressful for you. Besides, the minimal documentation also means quicker loan verifications and approvals.
Now, despite the easy-to-meet eligibility requirements and minimal documentation, you might face issues when applying for loans from time to time. But should you get stuck at any step during the application process, you can get in touch with us. You can contact our customer care team for assistance with any issues through our number, 1860 267 6060, or via email at customercare@tatacapital.com.
Do you have plans to revamp your home? You can easily apply for a personal loan for house renovation online or offline.
To apply for a personal loan for house renovation, you need to fill out an application form and submit it along with the required documents. Our experts will verify the documents and information you provide. Upon successful verification, your request will be approved and the loan amount will be disbursed to your bank account.
You can easily apply for home improvement loan with Tata Capital through our website. Just fill out the form and upload the required documents. Now wait for the verification and approval of your personal loan for renovation. Once approved, you will receive the loan amount directly in your bank account.
To apply for home improvement loan offline, visit your nearest Tata Capital branch.
The best part about a Tata Capital home improvement loan is that it's unsecured. You don’t need to provide any collateral or security to apply for the loan.
So, whether you want to revamp your living room, remodel your bathroom or spruce up your outdoor patio, your dream home is just one collateral-free loan away!
If that’s not all, Tata Capital’s flexible repayment options allow you to choose a convenient and comfortable repayment plan as well.
With minimal paperwork, maximum eligibility, and 100% online application, our loan approval process is easy, smooth and fast. After you complete the application form and upload the documents, we will verify and approve the loan within weeks.
And once your home improvement loan is approved, you will receive the loan amount directly in your bank account.
Yes, home renovation loans offer tax benefits. Under Section 24 of the Income Tax Act 1961, you can claim up to Rs 30,000 in tax benefits annually.
As per provisions under the Act, a total deduction of Rs 2 lakhs can be claimed on house-related loans. This includes both the purchase and refurbishment of the home.
And out of the Rs 2 lakhs specified, you can avail of a tax deduction of up to Rs. 30,000 on home improvement loans. Apart from this, applying for a home renovation loan from Tata Capital also has other benefits. These include,
Yes, you can use your home improvement loan for structural changes as well as additions to your property.
You can use your loan for multiple reasons, including repairs and renovations to the structure of the home, restyling your interiors, basic repairs, maintenance and the like. Not only that but with Tata Capital, you also benefit from,
You can get a home improvement loan for any type of property, irrespective of whether it’s an apartment or a landed property.
With Tata Capital, you get loans at competitive interest rates and with flexible repayment options that will be approved in a fast and hassle-free manner. For a smooth application process, make sure you meet the following eligibility criteria.
#1 The applicant must be between the age of 21 and 58 years
#2 The applicant must have a minimum of two years of work experience
#3 The applicant must have a minimum salary of Rs 20,000 per month.
With Tata Capital, you can get a home loan top-up to pay for expenses like buying furnishings, expanding or renovating, or even revamping the interiors of your home. So, if you find your initial loan amount constraining, you can access additional funds.
You can use the home improvement loan amount at your convenience. However, make sure you stay on your repayment schedule to avoid any penal interest. Tata Capital’s loan offers a flexible tenure. You can choose the loan amount, tenure and EMI options that suit you best.
You can also take advantage of a personal loan EMI calculator to help you plan this. All you have to do is enter the loan amount, loan duration and interest rate. The calculator will then calculate your monthly EMI, total amount payable and total interest payable.
Yes, you can use a personal loan for house renovations even if you do not own the property. With Tata Capital, you receive the loan amount directly into your bank account without any hassle. Apart from this, you also benefit from,
You can easily get a home renovation loan for your property, be it your primary home, second home or your vacation property.
For a smooth application, make sure you meet the following Tata Capital eligibility criteria.
#1 You should be in the age group of 21- 58 years
#2 You should have at least two years of work experience
#3 You should earn a minimum salary of ₹ 20,000 per month.
Being an NRI, you can get a home improvement loan, provided you fulfil all the eligibility criteria. With our fast approval process and flexible repayment option, giving your house the homely feeling becomes easier.
Yes, you can, as long as the property you want to renovate is owned by you. For a smooth application process, make sure you meet the following eligibility criteria.
#1 You should be in the age group of 21- 58 years
#2 You should have at least two years of work experience
#3 You should earn a minimum salary of ₹ 20,000 per month.
After you have applied for the loan, our team will verify the documents and approve your loan in a fast and hassle-free manner!
Yes, you can apply for a home improvement loan even if you have a low credit score. However, since your credit score indicates your ability to repay the loan, a low score can reduce your chances of loan approval.
Generally, a credit score of 750 and above is considered good.
And while a good credit score improves your chances of getting a loan, Tata Capital takes into account other factors as well. This includes your age, work experience, and monthly income.
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