I plan to renovate my house next month. Can I get a loan to do this?
Jaspreet Singh, Gurgaon
Yes, home improvement loans are available these days that you could opt for. If you are already serving a home loan on your house, you could seek a top-up loan to go ahead with the renovation as the interest rate on such a loan will be lower than what you may land up paying in case of taking a loan only for renovation. Do check with your existing lender about top-up provision and rates. If you do not have a home loan running, the choice is limited to taking a personal loan, which is what you can opt for to renovate your house.