Refurbishment, decoration or repair of the house, it is known that we must have a quite a big budget. "Borrowing" from a bank for this purpose is another good solution and is very popular. For anyone who’s never done this before, especially the loan for this purpose, let's look at the information that should be known before deciding to apply for a loan.

Is it necessary to repair the house?

Before deciding whether to borrow money or not, let’s try to check it a bit that should we use a loan to repair the house or not? If it is a specific repair, such as repairing cracks, repairing wall paint, changing the floor of the room, may choose to use the collection to handle each such problem instead. But if it is a major renovation, the loan is the right solution to reduce the burden of finding a lump sum to spend.

For reasons of home renovation, there are many cases together. To make it clear, we have the following example.

• Have children: The addition of the room is needed because many families look at the widening of space for their children to have a private room in the future
  
  
• There is an elderly person: who cannot go upstairs so the addition of a ground floor room as a bed or rest is important.
  
  
• Widening the kitchen: Some houses do not have a kitchen area with the house, therefore, adding the kitchen to make food more comfortable and the smell of food will not disturb the area in the house is essential.
  
  
• Parking space addition: Some people have homes before they have bought cars or buy more cars later. Parking is another thing that many houses usually add later.
  

To borrow ... must know the principle

Let's get to know different types of loans first. To have enough ideas that what kind of loans are available and suitable for borrowing to repair or extend our home.

1. Home loan for the existing customer: If we are still paying a mortgage and installment of home loan in accordance with the period specified by the bank, we can borrow more with the bank that can recover. Which will receive an offer of interest at the same rate as the home loan? For example, if you are an existing customer of SCB home loan and want to request "SCB Home Loan Top Up" to receive more money to repair or renovate houses. Will receive special privileges installments at the same interest rate.
   
   
2. My Home My Cash: This form of a loan, just bring the house as collateral with the bank. Can request a loan that has a low-interest rate and big amount of money. And they can use the money for home repairs. An example product is My Home My Cash from SCB that has various interest rates and comes with a loan limit of up to 20 million baht.
   
   
3. My Car My Cash: This type of loan will have a higher credit limit than cash cards and personal loans that do not require securities. But will still be less than home to exchange money and must use the car as collateral.
   
   
4. Personal loans: This type of loan is convenient and can request easily without having to have securities or personal guarantees. Can receive cash directly into the bank account. How much credit limit the borrower will receive depending on the income. The Speedy Loan from SCB will come with a credit limit of up to 5 times the income.
   
   
5. Credit Cash Card: It is a convenient credit form, fast and easy to apply without having to have an account with the bank and does not require securities or personal guarantees. Quick money withdrawals can be obtained from ATMs. Interest rates are quite high, unlike other types of loans. Therefore, it can be said that this type of loan is more suitable for emergency money.

Borrowing is another good solution for those who need money for home repair and renovation. If anyone is interested, can consult the bank for more details and choose the credit model that is most suitable for us directly. Or access the bank's apps and apply for a loan that we are interested in via mobile as well. This way is very popular for new generations because they do not have to go to the bank branch to request a loan approval.