Personal loans

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Home Improvement

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Monthly repayment from


Example interest rate

6.25 %

Comparison rate3

7.64 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. Any calculations made by you using this calculator is intended as a guide only.

Home Improvement

Are you looking at your home and wondering what could make it better? This is a key sign that you're thinking about home improvement. Renovating your home is a brilliant way to increase the value of your home and make it more liveable. There can be many reasons that you're thinking about improving your home. However, the most common reason for a renovation is when the home is getting dated, and you wish to upgrade to a modern one. For example, if you've been in the home for a few years and are seeking to upgrade your kitchen, or maybe the bathroom is in desperate need of repair. 

If you're looking at minor home improvements, such as painting, these can be financed easily, especially if you're doing the work yourself. But, for larger renovation jobs, such as the kitchen or building a patio or veranda, then securing financial assistance is ideal. For any home improvement to succeed, you should have specific plans in place, especially if you're doing the entire home. If you're completing the renovation project intending to add value to your home, you want to set the budget for less than 10% of the market value of your home. An easy way to gauge your home's current value is to look at recent sales in the area you live. Choose a few homes with a similar land size and the same number of bedrooms and bathrooms. Try to find a good snapshot of houses that look in a similar condition to yours. This can give you a good guide for the value of your property, and then you can multiply that number by 0.1 to get your home improvement budget. For example, a home value of $500,000 should have a renovation budget of less than $50,000. 

After you have your budget, you can start to work out the overall plan for your home improvement. The highest renovation costs for a home is the kitchen and then the bathrooms unless you're planning on moving rooms and electrical works around. When planning out your project, try not to reduce the number of bedrooms; a four-bedroom house is more desirable than a three-bedroom. To keep costs down, you can plan on doing some of the work yourself, but try to stick to jobs that you feel confident completing. It is important to note that doing work yourself may mean the overall project takes longer to complete. A home renovation is a large project, and you can expect it to take about three months from start to finish, even when using professional trades. 

To make them easier to follow, all large projects should be broken down into smaller stages. Start the plan by making a detailed list of all that needs to happen in the home. Next, you can break this list into specific projects, such as tiling, painting, cabinetry, electrical and other smaller tasks. For all trade works, get a few quotes from several different businesses. Work out a timeline and match it up with when your chosen tradesperson is available. However, make sure you give each tradesperson enough time to get finished before booking the next one in. Waiting a few days between one tradesperson finishing and the next starting is ideal unless they are working on different parts of the renovation (e.g., backyard paving and painting). After you have a few quotes for your home improvement project, you'll have a clear picture of your overall budget and if you need to make any adjustments. For any renovations budget, it is best to add approximately 10% to cover you for any unforeseen problems or delays.

How to apply for a home improvement loan?

When you've made the calculations and prepared your renovation budget, confirming your finances is the next stage. At MoneyMe, we have made applying for an unsecured personal loan easily. All our loan applications can be completed online, and if you enter your details during business hours, you'll receive an answer regarding approval in only a few minutes. At MoneyMe, we offer personal loans for many different reasons, including for home improvement. You can apply for loans from $2100 to $50,000, and the funds can be available within a day. You can get a loan to cover the entire project or only part of the overall budget. When it comes to loans, getting fast approval can be ideal, especially during a renovation where the costs can change in response to onsite issues. As you are not penalised when you make extra payments or pay off the loan early, you can borrow a little extra to cover any unforeseen problems.

How does the application process work?

The application for a personal loan through MoneyMe is completed online. Before you start, it is good to check our loan calculator to see your repayments will be based on how much you borrow and the total loan term. After you've decided on how much you'd like to borrow and the length of the loan, you can start the application process. First, we'll need some of your personal details, including your current employment status and your monthly expenses. After you've entered in all your details, we'll confirm your employment status and then provide an answer regarding approval; this takes only a few minutes during our business hours. Once you've been approved, the funds will be available in less than a day. The MoneyMe personal loan is ideal for any project, and as we can approve you fast. Our loans are perfect for when you need additional or start-up funds for any home renovation project. 

Can't wait to start your dream home improvement project? MoneyMe has got you covered. With home improvement loans up to $50,000, you can start your kitchen or bathroom project now and pay later in easy, fixed instalments for up to 5 years. If you'd like to get more ideas on how a personal loan can help you with home upgrades, be sure to visit the MoneyMe DVine Living page to view the range of mini-episodes of the renovation TV show DVine Living hosted by Dale Vine!

Our customers

Home Improvement

Unbelievably easy finance when I needed it the most. A huge thank you from me and as a returning customer I know that I am getting a fair deal.

After 5 to 10 minutes of filling up my application, my loan has been approved and the money was in my bank account. I had a great experience that is why I'm giving them a 5-star rating. Excellent service. Thank you very much, MoneyMe.

Amazing through and through. MoneyMe helped me out when no one else would and they have been a delight to deal with. I 100% recommend their service. They're an absolute joy to deal with!


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

6.25 %
to 19.95 %

Comparison rate*

7.64 %
to 21.32 %

Establishment fee

$295 for loans between $2,100 and $5,000

$395 for loans between $5,001 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 1 year

Maximum 5 years

Early exit fees


*This comparison rate is based on an unsecured personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. A $495 establishment fee and $10 monthly fee applies.

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