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.
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.
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.
SBI personal loan
Qbera Personal loan
Rate of Interest
||Starting at 10.75%
||Starting at 10.99%
||Up to Rs 15, 00 000/-
||Up to Rs 25,00 000/-
||3-5 working days min
||24-48 hours max
||1% of loan sanctioned +Taxes
||750 and above
||600 and above
||11.99% to 35.99%
|| 1% to 5% of total loan amount
||₹1,00,000 to ₹15,00,000
||12 to 60 months
"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."
I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...
"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."
"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"
"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"
"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"