How Can a Gold Loan Help Fund My Home Renovation?

A gold loan can be an excellent financing option for quickly and conveniently funding your home renovation needs. Here's how it helps:

• Gold loan disbursal is faster compared to other types of loans, helping you arrange renovation funds quickly.
• Minimal documentation and simple eligibility criteria make it easier to get a gold loan approved.
• Competitive interest rates and flexible repayment tenures allow affordable EMIs.
•  Loan amounts sanctioned can go up to 75% of the market value of gold pledged. This allows a substantial loan amount to fund even large renovations.

Here are some ways the loan amount can be used:

• Hire contractors and workers to remodel kitchens, bathrooms, flooring, electrical wiring etc. Gold loan funds can be used for labour costs.
• Purchase building materials like tiles, paint, wood, hardware, fixtures, etc., which are required for renovation activities.
• Pay for new furniture or furnishings to refurbish your renovated rooms and spaces.
• Replace old fittings and appliances with new ones, e.g., modular kitchens and modern sanitaryware.
• Install new amenities like air conditioners, smart lighting systems, CCTV cameras, etc., to upgrade your home."