Need A Financial Product Forums Loans Is it right to borrow personal loan for home interiors

This topic contains 1 reply, has 2 voices, and was last updated by  Pravin Chandra 2 years, 12 months ago.

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  • #47005

    I have home loan from ICICI Bank for which I pay Rs. 41,000 as EMI. My net monthly income is Rs. 1, 23,000. I am interested in renovating interior of my bungalow but I don’t want to use my liquid funds towards it. I am planning to borrow a personal loan for the purpose. Am I right in my decision?

    #47006

    Maulik Sheth
    Member

    Rather than borrowing a personal loan, I will suggest you to borrow home improvement loan. This being a secured loan carries a less rate of interest as compared to personal loan and therefore will be less burdensome on your pocket.

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