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

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 23, 2014 at 2:17 pm #47005
    samkapoor77
    Keymaster

    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?

    August 27, 2014 at 4:26 am #47006
    samkapoor77
    Keymaster

    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.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.