New Delhi, Aug. 28 -- Home renovations during festive seasons are a prudent financial decision, still the choice of loan can go a long way in determining whether it is a smart move or a costly mistake. In such cases, personal loans provide fast availability of funds without collateral. Still, their higher interest rates and shorter repayment periods make them more expensive and difficult to manage over time.

Personal loans in the nation currently carry lucrative interest rates starting from around 9.99% per annum. These rates come with varying terms and conditions based on credit scores, repayment history, and overall credit profile of the borrower, along with the loan disbursing rules of lending institutions.

These loans provide quick ...