Insta Personal Loan for Home Improvement & Renovation

Setting up a new house or renovating your existing home could be an expensive affair. A kitchen redo could set you back by a couple of lakhs and so would the long-pending bedroom makeover. Sometimes, you may have to carry out major repairs that are unforeseen. Why draw from your saving when you could opt for an instant loan for home renovation to fulfil your needs.

Read more about our Insta Personal Loan.

In case you do not have a pre-approved offer, you can opt for our regular personal loan.

buying

BUYING

Your home loan may cover only 80% of the total cost. You can take an Insta Personal Loan to cover for the remainder of the cost and for brokerage, stamp duty, and other related expenses.

renovation

RENOVATION

From time to time, we all want to redo the bedroom or buy a new couch for the living room. As children grow up, they may need a place of their own. You wouldn’t want to hold back and cut corners.

furnishings

FURNISHINGS

At times, furniture, upholstery and lighting is all you need to convert your apartment into a luxury residence. 10 years ago these things were hard to find. Now, all such things are available easily and you could really splurge.

major repairs

MAJOR REPAIRS

Any home needs major repairs once-in-five years. You may need to hire an architect and engage civil contractors. These repairs could range from a lakh to 10 lakh depending on the size of the home.

smart home

SMART HOME

Your friend just converted his apartment into a smart home and got all the fancy stuff like voice-controlled lighting, wi-fi heating and remote security. How about going for a smart makeover.

Features and benefits of our Insta Personal Loan

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All you need to know about our Insta Personal Loan

Watch this video to know everything about our Insta Personal Loan - features and benefits, fees & charges, etc.

  • Pre-assigned limits

    Pre-assigned limits

    No need to complete the entire application process to know how much loan you will get.

  • All you need is a valid mobile number

    All you need is a valid mobile number

    You can check your Insta Personal Loan offer by entering your mobile number and OTP.

  • Immediate processing

    Immediate processing

    Our Insta Loans work like a green channel with no documentation required* and money in your account in just 30 minutes*.

  • Flexible loan tenures

    Flexible loan tenures

    Manage your loan repayment with options ranging from 6 to 63 months.

  • No hidden charges

    No hidden charges

    You can read our fees and charges on this page and on our loan documents. There are no hidden charges.

    *Applicable for select customers.

  • Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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EMI Calculator

EMI Calculator

Plan your instalments better.

Eligibility criteria and documents required

Anyone can opt for our insta loans online. Your eligibility and documentation requirement depends on whether you are a new customer or have an existing relationship with us.

If you are an existing customer

Since you are an existing customer with a pre-approved offer, there are no additional eligibility criteria that apply to you. Some of our existing customers may be asked to submit additional documents, such as your income proof, KYC documents, and bank statement to get an insta loan.


Age: 21 years to 80 years*

If you are a new customer

Customers with an Insta Personal Loan offer may need to go through a CIBIL check and provide additional documents. The documentation and application process may differ slightly.

*Higher age limit applicable at the time of loan maturity.

How to get an Insta Personal Loan

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Step-by-step guide to get an Insta Personal Loan

  1. Click on ‘CHECK OFFER’ at the top of this page to open our online form.
  2. Enter your 10-digit mobile number and verify your profile with the OTP sent to your phone.
  3. You will see an offer with a pre-assigned loan limit for you. You can either go with it or choose a lower amount.
  4. Select a repayment tenure that suits you best.
  5. Click on ‘PROCEED’ to complete the online process.

The online process may differ depending on whether you are a new customer or have an existing relationship with us.

Note: Some customers may need to submit additional documents to complete their Insta Personal Loan application process.

Fees and charges on Insta Personal Loan

Type of fee Applicable charges

Rate of interest

13% to 38% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes)

Documentation charges Not applicable

Bounce charges

In case of default of the repayment instrument, Rs. 700/- per bounce will be levied.

Penal interest

Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment.

Prepayment charges*

Full prepayment:
Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.

Part prepayment:
Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part prepayment.

*Foreclosure will be processed post clearance of first EMI

Stamp duty

Payable as per state laws and deducted upfront from loan amount.

Mandate rejection charges

Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered.

Broken period interest / Pre monthly instalment interest

It is defined as the amount of interest on the loan for the number of days which are:

Scenario 1 - Over and above 30 days from the date of loan disbursement:

Broken period interest is deducted from the disbursement itself.

Scenario 2 - Less than 30 days from the date of loan disbursement:

Interest on the first instalment will be charged for the actual number of days.

Annual Maintenance Charges Not applicable

*Part-prepayment should be more than one EMI.

For Micro Finance Loans, please note below:

Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 38%, and 35.71% per annum respectively. Part-prepayment and foreclosure charges are NIL.

Understanding Insta Personal Loans

  • If you are an existing customer

    Our existing customers enjoy the benefits of pre-approved loan offers. These offers come with pre-assigned limits. You don’t need to complete an application to know how much loan you are going to get. You can get this information by entering your mobile number and OTP.

  • If you are a new customer

    We have created a service wherein anyone with a valid mobile number can check for an Insta Personal Loan offer. These offers come with pre-assigned limits. However, we may need additional documents to complete the insta loan process.

  • If you don’t see an offer

    In the above cases, if you do not see an insta loan offer or need a higher loan amount than the pre-assigned limit, you have the option to go through our regular online application process that takes less than 5 minutes.

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Frequently asked questions

Can personal loan be used for home loan?

A personal loan can be used for a wide variety of purposes. You can even use it to finance the down payment of your new house.

What is an Insta Personal Loan for Home Improvement?

An Insta Personal Loan is a pre-sanctioned offer; wherein the lender has already evaluated your credit history to check your creditworthiness. You can use our Insta Personal Loan to finance your home renovation and repairs. Since the initial approval process is already done, Insta Loans are processed faster.

What are the eligibility criteria for a home improvement loan?

The eligibility criteria for home improvement loans differ from lender to lender. For our Insta Personal Loan, you do not have to check eligibility criteria since it is a pre-approved offer where we already check the creditworthiness of borrowers.

How much can I borrow with an Insta Personal Loan for Home Improvement?

With our Insta Personal Loan, you can borrow funds up to Rs. 12,76,500.

What is the interest rate for a home improvement loan?

The interest rates of a loan for home improvement vary from lender to lender. You can get a Bajaj Finance Insta Personal Loan at a competitive interest rate ranging from 13% to 38% p.a.

What is the repayment tenure for a home renovation loan?

You can repay your Insta Personal Loan over a tenure starting from 6 months to 63 months.

Is collateral required for a home repair loan?

You do not have to submit any collateral to get our Insta Personal Loan.

How do I apply for a home renovation loan?

Getting an Insta Personal Loan from Bajaj Finance is simple. You only need to follow the steps below.

  1. Click on ‘CHECK OFFER’.
  2. Enter your 10-digit mobile number and OTP.
  3. Go with the pre-assigned limit or choose a different loan amount.
  4. Choose a repayment tenure that suits you best.
  5. Click on ‘PROCEED’ to complete the online process.

The online process may differ depending on whether you are a new customer or have an existing relationship with us.

Can we get a loan for home renovation?

Since Insta Personal Loan can be used for a wide variety of expenses, you can use it for home renovation as well.

What is a home renovation loan?

An Insta Personal Loan for home renovation is a pre-sanctioned offer; wherein the lender has already evaluated your credit history to check your creditworthiness.

What type of security do I have to provide for a home renovation loan?

You do not have to pledge any security to get our Insta Personal Loan for home renovation.

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