Know How To Bring Interior Design Ideas To Life With Personal Loans

Changing the interior design of your house or maintaining your property can be a big expense. With everyday expenses, saving money for home improvement can take a long time. In this case, a personal loan for interior decoration can help you upgrade your home décor and make it as luxurious as you like without delay. 

This option is ideal if you are looking to change your home interior for upcoming festivals or make any necessary adjustments for a larger family. Personal loans come without any end-use restriction, which makes them an ideal financing solution. Here is everything you need to know before borrowing.

Improve Your Home with a Personal Loan

There are many aspects which you can work towards to make this dream come true. Some of the ways you can use a instant personal loan for home decoration are:

• Upgrade to a smart home
• Renovate your home with art and fixtures
• Do up your home with new furniture and furnishings
• Repairs any electrical and plumbing issues 
• Get home security for protection
• Redo your home’s exteriors and garden 

No matter your preference, you can realise it with a loan for interior decoration. Once the project is complete, you can bear the cost stress-free by paying affordable instalments. If you are looking to upgrade your home, here are a few things to consider:

• Wall Paint

Refreshing the paint or changing it altogether can instantly elevate your home. There are many affordable as well as high-end options available, which you can choose as per your budget.

• Ceiling Design

Installing a false ceiling gives you scope for an all-new look. This design choice involves labouring as well as material costs, which require substantial funds.

• Light Fixtures 

Warm light can give your home a cosy look where, as white light is ideal for the study and living room. They also reflect your taste. Based on this lifestyle choice, you can buy floor lamps, pendant lights and more and install them in your home.

• Restore Old Furniture

Buying new furniture can be expensive, but repairing and restoring the old furniture can help you save more. Choose this option if your design approach is vintage or traditional. 

• Look for Deals

Online and offline stores offer occasional deals and discounts, so keep an eye out for them to buy décor items. This may include modular furniture, beds and cupboards, curtains, wall art and more. 

• Support Local Artists

If you want to have decorative art, try to invest in local artists. You may find beautiful vases, earthen pots, ornate chairs, carved consoles and more. These can give your home a wonderful vibe. 

These smart approaches for luxury interior design can help you achieve satisfying results on reasonable budgets. If you are short on funds, consider an instant cash loan from a lender such as Fibe.

How Fibe Can Help in Home Improvement

Getting a loan for home renovation or any other personal reason is easy with Fibe if you meet the eligibility criteria. These are as follows:

Particular	Parameter
Age	21 years to 55 years
Nationality	Indian
Monthly Income	Metro city: ₹18,000Non-metro city: ₹15,000

Documentation

Here is the range of personal loan documents you must submit while applying for a personal loan. 

• Aadhaar/ passport/ voter’s ID/ driving license
• PAN card
• Employee ID
• Salary slip (not older than 3 months old)
• Bank account statement
• Utility bill
• Passport size photo

While you may have the money for renovation in your account, opting for a loan will allow you to stay financially healthy. You can follow the latest interior design trends and use the loan amount to do up your home in style.

With the Fibe Instant Personal Loan, you can get ₹5 lakhs loan for your home renovation projects. Enjoy a comfortable repayment tenure of up to 36 months and apply with minimum paperwork. Download our Personal Loan App or register on our website to apply now. 

FAQs on Home Renovation with Personal Loan 

Can I use BNPL on interior decoration items?

If you are investing in new purchases, then this can be a good option. However, many retailers may not offer this facility. In such cases, an interior design loan can offer a better solution. 

How much can I take as a personal loan for interior decoration?

Based on your chosen lender, you can easily get sufficient funds for the complete project. With Fibe, you can get up to ₹5 lakhs as per your profile. 

Are there any specific eligibility criteria for an interior decoration loan?

Just like any other personal loan option, there are some eligibility criteria that you will have to meet:

• You must be Indian

• You must be employed
• You must be above 21 years old
• You must have a stable monthly income

Can I prepay or foreclose my interior decoration loan?

Yes, but some of the lenders have loan foreclosure charges. You can also easily find lenders with minimum or no foreclosure charges. Fibe is one such lender without any penalties for preclosure.

Is a personal loan for renovation tax-free?

With an interior design loan, you can enjoy income tax exemption of up to ₹2 lakh while you are renovating your home. This is subject to certain conditions, so look into what kind of renovation you are doing before going ahead.