Home Renovation Loan in India 2026: Finance Repairs & Upgrades at Low Rates
Your home deserves to be upgraded — modular kitchen, new flooring, bathroom remodel, waterproofing, or interior painting. A home renovation loan in India covers all of it without touching your savings. At Pragati Loan, a personal loan from 6.99% p.a. covers renovation projects up to ₹3 crore with no collateral, no architect approval, and no end-use restriction — just funds in your account in 24 hours.
6.99%Interest rate starting p.a.
₹3 CrMaximum loan amount
NoCollateral required
24 hrsDisbursal time
What Can a Home Renovation Loan Cover?
- Kitchen: Modular kitchen, countertops, chimney, cabinets, flooring
- Bathroom: Complete remodel, geyser, tiles, sanitaryware, waterproofing
- Structural: Roof repair, waterproofing, wall cracks, foundation work
- Interior: Flooring (marble, vitrified, wood), false ceiling, painting, wallpaper
- Electrical: Full rewiring, solar panel installation, inverter setup
- Exterior: Compound wall, gate, landscaping, parking shed
- Additions: Extra room, balcony extension, terrace development
Renovation Loan EMI Table 2026
| Renovation Budget | Rate (p.a.) | 12 Months EMI | 24 Months EMI | 36 Months EMI |
|---|---|---|---|---|
| ₹1,00,000 | 8% | ₹8,698 | ₹4,523 | ₹3,133 |
| ₹3,00,000 | 8% | ₹26,094 | ₹13,568 | ₹9,400 |
| ₹5,00,000 | 9% | ₹43,758 | ₹22,813 | ₹15,893 |
| ₹10,00,000 | 9% | ₹87,516 | ₹45,685 | ₹31,786 |
Get 2–3 contractor quotes before applying for a renovation loan. Budget 10–15% extra for unexpected costs — old homes often reveal hidden repairs during renovation. Apply for slightly more than the quote to avoid a mid-project fund shortage.
🧮 Calculate Renovation Loan EMI
Home Renovation Loan vs Home Loan Top-Up — Which Is Better?
| Feature | Personal Loan (Renovation) | Home Loan Top-Up |
|---|---|---|
| Interest Rate | 6.99–12% p.a. | 8.5–10% p.a. |
| Collateral | Not required | Home mortgaged |
| Eligibility | Any homeowner | Existing home loan customers only |
| Processing Time | 24–48 hours | 5–7 days |
| Tax Benefit | None | Interest deductible under 24(b) |
| Best For | Quick, no-collateral funding | Lower rate, existing loan customers |
Check Home Loan Top-Up Option →
Frequently Asked Questions
Do I need to show renovation bills to get the loan?
No. A personal loan for home renovation at Pragati Loan has no end-use restriction. You receive funds directly in your bank account and pay contractors as needed. No invoices, approvals, or disbursement tracking required.
Can a tenant (not property owner) get a home renovation loan?
Yes — through a personal loan. Since it is unsecured and has no end-use restriction, even tenants upgrading their rented space with landlord permission can use a personal loan from Pragati Loan for renovation costs.
Is home renovation loan interest tax deductible?
A personal loan for renovation carries no tax deduction. However, a home loan top-up used for renovation qualifies for interest deduction under Section 24(b) up to ₹30,000 for self-occupied property. Consult your CA for specifics.
Renovate now, pay comfortably over time. Pragati Loan personal loans from 6.99% p.a. — no collateral, no bills required, funds in 24 hours. Your dream home upgrade is one application away.
