Personal loans

Unsecured and flexible personal loans can help you with any type of home improvement. Get connected with reputed and trusted lending companies to apply for a personal loan. Kukun has partnered with the leading names in the market, such as SoFi, to bring you the best home improvement loan options.

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What is a personal loan?

A personal loan, also called an unsecured loan or a signature loan, is a lump sum fixed loan amount given to a qualified borrower that is not secured by residential property or collateral. You can use a personal loan for any home improvement activity like adding square footage, renovating an existing space with no change to walls, or expanding a home by moving walls.

What is the eligibility criteria for personal loans?

A lender generally looks at a few aspects of a borrower before sanctioning a personal loan:

Prerequisites for sanctioning personal poans


18 or above

Credit History

Record of timely repayments in the past


Legal US resident

Employment History

A long-standing job with a steady source of income

Bank Account

Verifiable account with a reputed bank

Monthly Debts

A low debt-to-income ratio -- usually, below 35%

Credit Score

620 or higher (300-575:Poor, 580-669:fair, 670-739:good,740-799:very good, 800-850: exceptional)

Credit History

Record of timely repayments in the past

Employment History

A long-standing job with a steady source of income

Monthly Debts

A low debt-to-income ratio -- usually, below 35%

Terms, conditions, and state restrictions apply. See for details. SoFi loans are originated by SoFi Lending Corp., Licensed by the Departament of Business Oversight under the California Financing Law License. *

When should you go for a personal loan?

Personal loans are perfect when you don’t wish to put your home at risk, since they are unsecured. Therefore, you don’t require any collateral -- in the form of your property -- while applying for this category of home improvement loan. In case of secured loans, the bank may seize your property if you default in your monthly payment(s). Moreover, if there’s a hit in the real estate market, you may owe more than the actual worth of your home in the long run. Note: However, no collateral means higher interest rates. It is also ideal when you don’t have the required equity to apply for other loan options. For example, if the worth of your home is $3,00,000 but you still owe $2,00,000, then your equity value is $1,00,000. In this case, you may get a home equity loan for the entire $2,00,000 -- which might come at a higher interest rate. Hence, under this circumstance, a personal loan is the better bet.

Not only this, personal loans are flexible. You can use them for a number of projects. Therefore, if you want cash for more than one small repairs, this is the right choice! Moreover, the life of the loan comes with a fixed interest rate and a longer payback term. So, it’s ideal if you wish to fit in your monthly installments into your budget and plan the repayment term for up to 6 years.

Additionally, when you want quick cash, personal loans are the go-to alternative. They don’t have any requirement from the bank to appraise your home. Hence, the process is much faster. Furthermore, if you want a small amount, then always go for a personal loan. When you don’t have the time to spend innumerable hours on the paperwork for a home equity loan, this is the best option. You can get loan amounts at as low as $2500!

What are the key features of personal loans?

Loan Amount & Tenure

The amount of this unsecured personal loan can vary between $2,500 and $100,000. The term or length of the unsecured personal loan ranges from 24 months to 72 months.

Fixed Interest Rate

A personal loan comes with fixed interest rates/ annual percentage rates, and fixed monthly installments with full principal & interest amount.

Early Termination Fee

It might come with an early termination fee in the first 12 months and usually offers a limited repository of lenders


What are the pros and cons of a personal loan for home improvement?

side-arrowThe Pros
  • A simple and fast online process for loan applications.
  • Provides a great return on your investment.
  • Fixed rate and payments.
  • Not required to use funds for home improvement.
  • Good for short-term financing needs.
  • Can payoff loan early.
  • Little or no origination fees.
side-arrowThe Cons
  • Requires strong borrower qualifications.
  • Interest rates for unsecured loans likely higher than traditional secured loans.
  • Length of loan limited to 72 months.
  • Can not be used to refinance an existing loan.

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