Renovation Loans

Transform your big ideas into reality

Your goals, your terms. Borrow up to $65,000 with an unsecured renovation loan from Plenti.

Interest rates from
6.28
%
p.a.
Comparison rate*
6.28
%
p.a.

Whether you're embarking on major renovations or adding the finishing touches, our home improvement loan is your key to a seamless and stress-free process.

We're a multi-award winning personal lender

What is a home improvement loan?

A home improvement loan is a personal loan used to pay for renovations or repairs to your home. With Plenti, you can borrow up to $65,000 to bring your home renovation plans to life.

Now that we're all spending more time at home, feeling good in your home matters more now than ever. From a new bathroom or kitchen, to a garden refresh or a new outdoor living space, you could borrow the money you need to create your dream home with Plenti.

Features

With our simple application process, you can enjoy a stress-free personal loan experience that suits your needs

Borrow up to $65,000

1-7 year loan terms

Fast funds in as little as 24hrs from approval

$0 early repayment fee

$0 monthly fee

Personalised interest rate

How to start planning for your home renovations

Set your renovating goals

Start a to-do list of what home improvements you would like to make and what you want to achieve with your renovation.

Apply Now

Get quotes from builders that include material and labour costs. Remember to include additional costs such as storage and council permits.

Streamline Your Repayments

Take note of your savings, income and monthly spending. Use the renovation loan calculator to calculate how much your loan repayment could be.

Renovation loan repayment calculator

Renovation wishlist starting to add up? Find out how much your monthly repayment could be with a Plenti home improvements loan.

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Example interest rate: % p.a.
Comparison rate: % p.a.*
Estimated monthly loan repayments from
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Total repayment (incl. interest and fees)
Get your rate
Repayment calculator: The calculator is designed as a guide only and is not a quotation or an offer of credit. The interest rates and monthly repayment amounts are indicative and based on the credit history selected. The loan amount you can borrow and your personalised interest rate and repayment amount may be different once you complete a loan application.

How can a Plenti home improvement loan elevate your life and increase property value?

Whether you’re hiring experts or strapping on the toolbelt yourself, find out what can you spend your loan funds on.

Landscaping

Transform your garden with fresh plants and bespoke landscaping.

Kitchen

Upgrade the heart of your home with new cabinetry, sleek tiles, and upgraded appliances.

Furniture

Make your house a home with custom-made, brand new, or second-hand furniture.

Outdoor living

Create your dream outdoor living space to level up your lifestyle.

Bathroom

Swap your outdated bathroom for an elegant and functional oasis.

Home gym

Work out from the comfort of your own home by converting space into a home gym.

See how our rates stack up

Compare our personal loan interest rates against the big 4 banks (including CommBank, Westpac, ANZ, & NAB)

Plenti
from 0.00% pa
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Bank
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Rates as of 99/99/2999
Excludes any short term promotional rates. View the fine print for important information.
Process

Applying for a Plenti personal loan is easy

Receive your personalised rate

Get your obligation-free rate in just 60 seconds without affecting your credit score

Complete your application online

Complete your application online - submit documents securely, track progress and chat with us.

Get your funds quickly

Receive your funds in as little as 24 hours after approval.

A 5-star experience from start to end

Turn your somedays into today with an award-winning* fintech lender.

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Your questions answered

How does a renovation loan work?

If your renovation loan application is approved and the contract is signed, the funds are directly deposited into your nominated account for payment to contractors at your discretion.

Our renovation loan repayment calculator can estimate the monthly repayment, determined by the borrowed amount, rate, and selected term.

What can I use a renovation loan for?

A renovation loan from Plenti can be used for various purposes, such as upgrading your kitchen, fixing a burst pipe, or giving your home a fresh coat of paint. The funds are flexible for any home repairs or updates.

While the maximum limit is $65,000 per applicant, the personalised loan amount depends on your application and financial circumstances. It's advisable not to borrow more than necessary to avoid unnecessary increases in repayments and total interest paid.

In some cases, Plenti may provide a 'counter-offer,' a conditional approval for a lower loan amount deemed more affordable based on your application.

Who is eligible for a renovation loan?

To qualify for a Plenti renovation loan, you must meet the following criteria:

  • Age: 18 years or older
  • Citizenship: Australian citizen or permanent resident
  • Income: earn over $25,000 annually from a verifiable, regular income source
  • Credit History: maintain a good credit history

If you're self-employed and uncertain about your eligibility, don't fret. You can apply as long as you have been in your current role for at least 12 months.

How do I apply for a renovation loan?

Plenti’s application process is quick, easy, and entirely online. Once you have confirmed that you are eligible for a renovation loan, you can get a rate estimate from Plenti by clicking here. If you are happy with the estimated rate, continue the application by simply clicking through to the next step.*

Applying for a renovation loan with Plenti is a swift and seamless online process. After confirming your eligibility, click the provided link to obtain a rate estimate. If you are satisfied with the estimated rate, proceed to the next steps with a simple click.

What should I know about the costs and financing of a kitchen renovation?

A kitchen renovation can transform a dated area into the vibrant heart of your home. Here’s a quick guide to the costs and financing options:

Typical Kitchen Renovation Costs

  • Quick Refresh ($10,000+): For a small kitchen needing minor updates like new cabinetry, laminate benchtops, and basic appliances while keeping the existing layout.
  • Standard Renovation ($20,000+): Mid-range updates with features like engineered stone benchtops, designer splashbacks, and quality appliances, offering more flexibility in the design.
  • Full Makeover ($40,000+): For those who love food and entertaining, featuring custom cabinetry, premium benchtops, and top-tier appliances with a redesigned layout.

Saving Tips

  • DIY Tasks: Save on trades by handling tasks like removing old cabinetry and flooring yourself.
  • Keep Layout: Avoid moving plumbing and electrical services to reduce costs.
  • Cabinetry: Integrate open shelving to cut costs on cabinetry.
  • Appliance Brands: Opt for quality yet lesser-known brands or second-hand options.
  • Simple DIY: Handle easier tasks like painting to save money.

Financing Your Renovation

If you’re ready to start your kitchen renovation, consider a renovation loan to finance your project. Plenti typically provides personal loans up to $65,000 which could help finance your dream kitchen. Get started by submitting a rate estimate today.

What should I know about the costs and financing of a bathroom renovation?

Bathroom renovations can turn a basic space into a luxurious sanctuary. Here’s a quick guide to the costs and financing options:

Typical Bathroom Renovation Costs

  • Basic Makeover ($10,000+): Simple updates for a small bathroom, including low-cost taps, vanity, toilet, and basic tiling. Stick to the existing layout with budget-friendly items.
  • Mid-Range Revamp ($20,000+): More options for style and mid-range fittings like a frameless shower screen, freestanding bath, and upgraded lighting. Limited flexibility for major layout changes.
  • Deluxe Upgrade ($30,000+): Premium touches such as high-quality fixtures, dual shower heads, designer tiles, under-floor heating, and an entirely new layout. Ideal for a luxury experience.

Saving Tips

  • DIY Tasks: Handle tasks like removing old fixtures and hauling debris yourself to save on trade costs.
  • Keep Layout: Stick to the existing layout to avoid expensive plumbing and electrical changes.
  • Smart Tiling: Tile only essential areas and consider clearance tiles for budget savings.
  • Prioritise Splurges: Focus spending on key items like bathtubs or quality tapware and save on others.
  • DIY Finishing Touches: Take on simpler jobs like painting and installing accessories yourself.

Financing Your Renovation

Ready to start your bathroom renovation? Consider a renovation loan to fund your project. Plenti typically provides personal loans up to $65,000 which may assist you to build your dream bathroom. Begin by submitting a rate estimate today.

How can I calculate my loan repayments for a Plenti personal loan?

You can use Plenti’s personal loan repayment calculator to find out your estimated loan repayments.

More about home renovation loans

Is a home renovation loan better than using a credit card?

Credit cards typically have high interest rates. Home improvement loan rates tend to be lower, making monthly payments more manageable or saving money from interest accrual over the lifetime of the debt

What can I use a home renovation loan for?

Common uses for a home renovation loan are:

  • Landscaping
  • Kitchen upgrades
  • Furniture
  • Ourdoor living
  • Bathroom upgrades
  • Home gyms

What is a comparison rate for a home renovation loan?

A comparison rate is a tool to help you understand the true cost of a personal loan. This rate allows you to better compare the price of different loan providers by factoring in some of the fees and charges (such as application or establishment fee, or monthly servicing or account keeping fee) that are included in their loan. Some loan providers have fees for establishing the loan.

A comparison rate on a personal loan may be calculated on a $30,000 loan amount over 60 months. This includes the interest rate and some fees (such as establishment fees and monthly fees).

While the comparison rate covers some fees and charges, some are not included, for example:

  • Government Fees and Charges
  • Late Payment Fees
  • Break Costs or Early Termination Fees
  • Cost savings such as fee waivers or the availability of interest offset arrangements which can influence the cost of a loan

How much can I borrow for a home renovation loan?

Plenti offers renovation loan ranging from $5,000 to $65,000. Your borrowing limit can be affected by your credit score and disposable income.