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Home improvement loans

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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 loans

Home improvement loans provide you with the extra cash you need to make your home a more comfortable place to live in. From redesigning your kitchen and upgrading your bathroom to adding in a pool and landscaping your garden, there are so many different ways to improve the space around you. If you are lucky enough to be a homeowner in Australia, chances are you have some home renovation projects you’ve meant to do for a while.

Whether it’s installing ducted heating or converting your kitchen to an open plan, the sooner you get your home improvements underway, the sooner you can start enjoying them. Or, if you are looking to sell your house, home improvements can be a great way to add value to your property. All sounds good, but unfortunately, home improvements can be expensive, which is where home improvement loans can really come in handy.

How do home improvement loans work?

From kitchen renovation costs to new bathroom costs or even smaller jobs around the house, home improvements are not cheap, and you may not have the finance available upfront to pay for it. Like other personal loans, home improvement loans usually come in a lump sum payment that needs to be repaid to the money lender in instalments (including principal and interest) over a specified loan period. Suppose you are doing a major construction project. In that case, some banks also offer a construction loan for renovations where the money will be released in stages, so if you are building from scratch rather than doing minor home improvements, this might be another alternative to consider.

With personal loans for home improvements, you can either choose a secured loan where you’ll need to provide an asset (such as the property or the equity in the property) as security or an unsecured personal loan for renovations where the collateral is not required. You’ll also need to decide whether you want a fixed interest rate loan or a variable interest rate loan. If you are on a tight financial budget, applying for home improvements loans with fixed interest rates will provide more certainty about what your monthly repayments will be.

Before you decide what type of home improvements loan would work best for you, you’ll need to assess how much money you’d like to borrow. The cost of the project will depend on the extent of your home improvements and how much of the work you can do yourself, and how much of the work will require professional help. Renovation costs can include design costs, materials, labour, permit costs, insurance and more. If you are doing major home improvements where you’ll need to move out while you.

renovate, you’ll also need to factor in accommodation costs, as well as takeaway food if your kitchen is out of action. When you are doing your budget, it’s a good idea to also allocate some extra money for unexpected costs that may arise. Once you’ve worked out how much money you need, it’s time to shop around for the best loan for your financial situation and find out what’s affordable, as you don’t want to get yourself into a debt that you won’t be able to pay back.

If you are looking for a low rate personal loan with a quick and easy application process and flexible repayments, MoneyMe offers unsecured fixed rate personal loans, lending up to $50,000. MoneyMe also has a free online calculator to help you get an idea of your repayments and decide what loan term will work best for you. We are also transparent about our fees and charges, so you’ll know what to expect before going ahead with the loan. With no fuss and no paperwork, you can apply online in a matter of minutes from your computer, tablet or smartphone. And with our advanced technology, we can give you an outcome in no time. As soon as you agree to the loan, we can transfer the money to your bank account. Transfer times will vary between banks, but you could even get access to the funds on the same day you apply.  

What expenses are covered under a home improvement loan?

With a MoneyMe unsecured personal loan for home improvements, you can use the money for almost any renovation costs you can think of. From new carpet and fresh paint to a complete bathroom remodel or kitchen upgrade, we’ve got your home improvements sorted. If you are doing minor home improvements such as painting some walls, carpeting a room or installing CCTV cameras, and you know you’ll be able to pay back the funds quickly, you might want to consider borrowing money using a credit card or line of credit. MoneyMe offers a line of credit up to $20,000, and as with our personal loans, the application and approval process is super quick. Apply for a MoneyMe personal loan or line of credit today!

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 bathroom or kitchen home improvement 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!

Flexible home reno budget

Whether you need small loans to cover your needs till payday, or loans of up to $50,000 to cover bigger expenses such as home improvement, MoneyMe got you covered.

Another financing option you may want to consider is our Freestyle virtual Mastercard® that’s ideal for smaller, everyday expenses. Unlike a lump sum of cash in personal loan, Freestyle is a revolving line of credit, which means that as an account holder, you can borrow money repeatedly up to your maximum credit limit while repaying the current balance that is due.

At MoneyMe, you can expect that all our personal loans and Freestyle virtual Mastercard® come at competitive rates, reasonable repayment terms, and quick application that is purely done online.

Our customers

Home improvement loans

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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