Give your Home a New Look with the Fullerton India Personal Loan!

With the festival of lights approaching, it is the right time to redecorate and renovate your house to give it a new look. However, the expenditure incurred in the process can be very high. Therefore, a proper financial plan with an accurate estimation of the costs to be incurred is very essential. Now, with Fullerton India’s personal loan, you can easily meet your budgeted expenses. 

With a home renovation loan, you can easily make improvements to your house without much hassle. There are many benefits of taking such loans. These include flexibility in interest rates, quick approval, no requirement of collateral and cover most of your budgeted costs. So, here is your complete guide about these loans. 

What are the Advantages of Taking a Personal Loan for Home Renovation? 

There are various benefits which are listed below. 

  • Quick Online Approval

The whole process of applying is now online. You can get the approval for the loan in three easy steps. This includes checking if you are eligible to take the loan, then filling up the required form on the website, and lastly, uploading your documents. On successful completion of these steps, your loan can get quickly approved. 

  • Personal Loan Calculator 

The key factor that you check before availing of any loan is the equated monthly installment (EMI) amount. Now, with the help of this calculator, you can easily determine the EMI amount after entering the loan amount, repayment tenure, and rate of interest. You can also readjust these values as per your financial needs and get the required EMI amount. This makes the process of making a financial plan and determination of loan amount an easier task. 

  • Loans of Higher Amount

You can take loans for the purpose of renovating your house and now repay it at your pace. Access to higher loan amounts and flexible repayment tenures is a key benefit as it helps you evaluate your savings and plan your finances accordingly. 

  • Interest Rates

Different financial institutions offer different interest rates. This is influenced by the duration, credit score, and total loan amount. The lesser the interest rate, the less will be the burden of repayment of the loan amount. Therefore, you must compare and choose a financial institution that provides flexible interest rates. 

  • Disbursement of Loan Amount

This is the final step towards availing the loan. Proper documentation will lead to quick approval of the loan amount. And once the loan is approved, you can get the required funds within 72 hours. This helps you in getting quick access to the loan in minimum time and ensures that you can renovate your home with ease. 

  • Tax Benefits

If you take such loans, you will be eligible to take a deduction under section 24(b) of the Income Tax Act. These deductions are for the interest payments which are made only for self-occupied houses. Therefore, tax benefit is another advantage of availing such loans. 

  • No Requirement of Collateral

Most of the loans require collateral for the security of repayments. However, one of the primary advantages of loans taken for the home renovation is that you do not need collateral to avail of the loan. This offers flexibility to all users who take the loan. But, this is subject to certain terms and conditions.

What are the Eligibility Criteria for Availing such Loans? 


To avail of personal loans for renovation purposes, you must fulfill certain criteria. These criteria are listed below:

  • Age

Individuals who are 21-60 years of age can avail such loans. Moreover, they must also be a resident citizen of India. 

  • Income 

The income level criteria are different for salaried and self-employed individuals. For salaried individuals, the minimum income is ₹20,000 in the case of non-metro cities and ₹25,000 in the case of individuals residing in Mumbai and Delhi. A fixed minimum profit after tax is considered for self-employed individuals. 

  • Credit Score

There is a minimum credit score that is fixed for availing of personal loans. This score differs from one financial institution to another. You must ensure timely repayment of all debts and loans to maintain a good credit score to be eligible to take such loans. 



A loan taken to renovate your house can help in making every kind of upgrade to your home. Whether it is remodeling your living room or changing your bathroom fittings, you can easily use the loan for these purposes. Various factors influence these loans. It includes repayment tenure, loan amount, and interest rates. You must always ensure that you have a good history of repayments since your credit score is an essential factor that financial institutions check while providing you with loans. Now, at Fullerton India, you can get easy access to such loans and reduce the overall burden on your finances.

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