SBI Home renovation loan Vs Qbera Home renovation loan

Home renovation loans are loans that are extended to customers who wish to upgrade or renovate the property that they have purchased. All homes require periodic maintenance and some level of repair and upgrading over a time period. This maintenance cost has gone up drastically over the years because of the rise in the cost of raw materials such as paints, fixtures as well as high labor costs. This stands true even if the property is newly constructed and you wish to furnish it to suit your needs and style.

 A personal loan from SBI can be used to undertake renovations in the house and there is a similar personal loan from Qbera, a Fintech as well. These loans are usually availed for extra work to be done on an already constructed property. These loans are quite similar to a home loan; however, their interest rate and tenure differ drastically.

Features of Home renovation loan from Qbera

A home renovation loan from Qbera is extended as personal loan and there is no capping of the usability of funds. It can be used to purchase fixtures and other raw materials to upgradation of appliances.

•  Extended to salaried individuals and self-employed persons
• Minimum monthly salary of Rs 18,000
• Age group of 23-55 years
• A completely digitized application process
• Flexibility of usage
• Minimal processing fee and no hidden charges
• Competitive interest rate
• Dedicated customer care

SBI Home Renovation Loan - Features

For home renovation, you can opt for a personal loan from SBI. There is no capping on the usability of funds and has a long repayment tenure. There are fixed and floating interest rate options.

• Extended to salaried, self-employed and pensioners
• Age group of 18-70 years
• Normal paperwork at the bank branch
• Transparent loan sanctioning procedure
• Attractive interest rates on personal loans
• Minimal processing fees and no hidden charges
• Dedicated round the clock customer care
• Multiple personal loan options depending on customer requirement

SBI Home Renovation Loan vs Qbera Home Renovation Loan

How to apply for a home renovation loan from Qbera

• To apply for a home renovation loan from Qbera login to their website www.qbera.com and fill out the online application form. You have to enter personal and employment information.
• You can submit supporting documents like the bank statement which clearly shows your salary credit, salary slips and other documents online.
• You will get a personalized loan quote if the documents are in order and the internal verification standards are met.
• Hard copies of documents like Aadhar card and PAN card are collected after acceptance of the quote. Following another round of document verification, the amount is credited to your bank account within 24-48 hours.