I am thinking of applying for Home Improvement Loan. I am trying to cover the cost of flooring,borewell and other things. Its with HDFC,Do you have experience with such loans,how different are these loan from regular home loan.HDFC website quotes 10.25% interest (for loan below 30 Lakh) as of today which is 25 basis points higher than my home loan.
I am thinking of going for 4 lakh loan in this scheme.whats your take? Any other options?