What Type of Loan is Best for Home ImprovementsThinking about taking a loan gives stress, isn’t it? But when a loan proves to be useful and fulfils a purpose, it is worth taking that risk. When it comes to our living space, our home, we all strive to make it comfortable and a secured dwelling place. Hence, after spending few years in the same house, maintenance, repair and decoration costs are incurred. Home renovation and home improvements are two different concepts. If you are willing to go for the either one, get some clarity on which type of loan is best for home interiors upgrade.
Home repairs and refurbishing needs are sometimes unavoidable. When you have a broken ceiling, scratched walls or loose doors, home improvement becomes urgent to fix the mess. But, will you be able to manage the home improvement expense along with the daily costs? Is it taking away your savings? Stop and think about personal loans, or rather instant personal loans. These are best suggested for home improvements due to its collateral free nature and quick sanction process.
With instant personal loans you will not have to face the embarrassment of a dishevelled home that lacks repairs and upgrade.Simply Cash is a latest instant personal loan app helping the loan seekers to acquire finances with ease. Right from application, documentation and disbursal, everything is done online. Acquire home improvement loan up to 1.50 lakh via Simply Cash. The feature of paperless documentation makes the Simply Cash app hassle free yet secured.
How to Apply for Home Improvement Loan via Simply Cash
With quick application and sanction, you can speed-up home improvement formalities:
- Install Simply Cash Instant loan app from Google Play Store
- Register with basic details – mobile number / email address
- Set the desired EMI using the loan EMI calculator
- Paperless verification of KYC details using a security code
- Bank account verification through net banking; the credentials are never stored
- Instant loan approved in minutes and transferred to the bank account
Documents and Eligibility Criteria for Home Improvement Loan
Every financial procedure follows certain eligibility criteria, accompanied by a set of mandatory documents to go further with home improvement plans:
- Filled and signed loan application form. Electronic signature if submitted online.
- KYC documents -Aadhaar Card/PAN Card/Driving License/Passport/Smart Card
- Income documents- Salary slips, bank statement of last 6months, IT return sheet or Form 16
- You should be the resident of India
- You should be either salaried or self-employed individual/ businessman
- Your minimum monthly income should meet the criteria fixed by the lender
- You should be at least 21-58 years of age
- Your credit history should meet the criteria set by the lender. Credit score may vary as different lenders set different bars as per their standards.
Note: SimplyCash documentation and eligibility criteria is much simpler, to know details click here.
Now you know the stepwise procedure to apply for a home improvement loan successfully online. Use your smart phone as the key to unlock instant cash loan for home improvement at the earliest. Delay in home repairs and pending fixes can incur huge costs if left unattended at an early stage.