Yes. If you use the Personal Loan amount for home improvement or renovation, then you can avail of a tax rebate under Section 24 (b) of the Income Tax Act, 1961.The interest paid on such a loan is tax deductible, for up to Rs 30,000 per annum. APPLY ONLINE. Chat With Eva.
HDFC Limited provides a simple home loan eligibility calculator to calculate the amount of loan you are eligible for in your city. For example, if you are 35 years old and your gross monthly income is Rs. 40,000, you can avail of a loan amount of Rs.25.69 lakh at the interest rate of 6.90% for a tenure of 25 years, provided you have no other tVGU9U. 25 261 302 492 128 375 75 291 212