Compare Home Renovation Loans from 50+ Australian Lenders

Upgrade kitchens, bathrooms, extensions and outdoor spaces with clear, fixed repayments tailored to your budget.

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Home Renovation Loan Australia
Emu Money Home Improvement Finance

Refresh, Extend, Improve

Finance upgrades with fast decisions, fair terms and repayments that fit your cash flow.

Borrowing Range

Typical amounts $5,000 to $75,000+

Fixed Repayments

1 to 7 year terms for certainty

Fast Approvals

Same-day outcomes possible for complete files

Secured or Unsecured

Sharper rates with security; flexible with unsecured

Direct-to-Supplier

Optional payments to builders or vendors at settlement

Green Upgrades Ready

Solar, insulation, efficient HVAC and windows eligible

How it works

We match your profile to lenders that fund home improvements—so projects can start sooner.

1.

Apply online in 3 minutes

Share your plans, quotes and budget. No lengthy forms.

2.

See matched options

Compare secured vs unsecured, terms, rates and fees side by side.

3.

Upload documents

Provide ID, income evidence and bank statements for assessment.

4.

Settle & pay trades

Funds to you or direct to builders/suppliers so work can begin.

How Home Renovation Loans Work

Backed by over 50+ lenders

Giving you the best chance of being approved.

Affordable Car Loans
Alex Bank
Angle Finance
ANZ
Australian Motorcycle & Marine Finance
Australian Premier Finance
Automotive Financial Services
Azora
Bank of Melbourne
Bizcap
BOQ
Branded Financial Services
Capify
Capital Finance
CarStart Finance
CFI
Dynamoney
EarlyPay
Equity Tap
Finance One
Finstro
Firstmac
Flexi Commercial
Green Light Auto
Grenke
Latitude
Liberty
Lumi
Metro
Money3
MoneyMe
MoneyPlace
Morris Finance
Moula
Multipli
Now Finance
Pepper Money
Plenti
Prospa
Resimac
ScotPac
Selfco
Shift
SocietyOne
UME Loans
Vestone
Westpac
Wisr
Yellow Gate

Ready to get started?

Compare renovation loans from 50+ lenders with one simple application.

A quick guide to home renovation loans

Home renovation loans are personal loans used to fund upgrades and repairs—like kitchens, bathrooms, landscaping, roofing, extensions and energy-efficiency improvements. They spread project costs into predictable repayments, helping you avoid draining savings or juggling multiple credit cards.

You can choose unsecured for speed and flexibility, or secured (e.g., against a car) for sharper pricing or higher limits. Comparing offers—and checking the comparison rate—helps you understand total cost. Align the term to your project timeline and expected value uplift for a smart balance of cash flow and cost.

Types of home renovation loans

Pick a structure that suits your project scope and budget:

Unsecured Personal Loan

A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • No collateral required - no risk to personal assets
  • Quick approval and funding process
  • Flexible use of funds for any purpose
Cons
  • Higher interest rates than secured loans
  • Stricter credit requirements
  • Lower maximum loan amounts available
Best For

People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.

Secured Personal Loan

A personal loan secured against an asset offering lower rates than unsecured options. Use the funds for any purpose while benefiting from competitive secured rates.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • Lower interest rates due to asset security
  • Higher loan amounts available
  • Flexible use of funds for any purpose
  • Longer repayment terms possible
Cons
  • Asset serves as security - risk of loss
  • Comprehensive insurance may be required
  • Longer approval process due to security valuation
  • Asset restrictions during loan term
Best For

Borrowers with valuable assets who want lower rates for debt consolidation, home improvements, or major purchases while keeping costs down.

Fixed Rate Personal Loan

An unsecured personal loan with fixed interest rate providing predictable monthly payments. Perfect for consolidating debt or funding personal goals.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
Pros
  • Fixed interest rate provides payment certainty
  • No assets required as security
  • Predictable budgeting with set repayments
  • Quick approval and funding process
Cons
  • Higher rates than secured loan options
  • Stricter credit requirements than variable loans
  • Cannot benefit from interest rate decreases
  • Lower maximum amounts than secured loans
Best For

Borrowers who want payment certainty and protection against rate rises for debt consolidation, home improvements, or planned expenses.

Variable Rate Personal Loan

An unsecured personal loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases on your personal financing.

Loan Amount$5,000 - $200,000
Term24 - 84 months
Interest RateFrom 9.2%
Comparison Rate^From 10.87%
Time to Fund24 - 48 hours
EligibilityMinimum income $30,000, Australian resident, Fair credit score
Pros
  • Can benefit from interest rate decreases
  • Often lower initial rates than fixed loans
  • More flexible loan features available
  • No assets required as security
Cons
  • Monthly payments can increase with rising rates
  • Uncertainty in budgeting due to rate fluctuations
  • Higher rates than secured loan alternatives
  • Risk of significant payment increases
Best For

Borrowers comfortable with payment variability who want to benefit from potential rate decreases without putting assets at risk.

What can I use a renovation loan for?

Renovation loans can fund essential repairs and value-adding upgrades across your home:

Kitchen Remodels

Cabinetry, benchtops, appliances and layout changes to modernise your most-used space and improve resale appeal.

Bathroom Upgrades

New tiling, fixtures, waterproofing and ventilation to refresh older bathrooms and add value.

Roofing & Structural Repairs

Fix leaks, replace roofing or address foundational issues before they become bigger problems.

Extensions & Conversions

Add a bedroom or convert an attic/garage to gain liveable space without moving.

Outdoor & Landscaping

Decks, pergolas, fencing and landscaping to lift street appeal and everyday enjoyment.

Energy-Efficiency Upgrades

Solar panels, battery, double glazing, insulation and efficient HVAC to cut bills and boost comfort.

Major Repairs & Remediation

Address water damage, mould remediation or electrical rewiring for safety and compliance.

Pools & Entertaining Areas

Install a pool or upgrade outdoor kitchens and paving for year-round entertaining.

Case Study

Home Renovation Loan Case Study

Sofia & Marco

Kitchen upgrade without the cash squeeze


Challenge: Needed to replace an outdated kitchen and fix a leaking roof.

Solution: Unsecured renovation loan over 5 years with direct-to-supplier payments.


A family in Melbourne wanted a modern kitchen but also had urgent roof repairs. Through Emu Money they compared options and chose an unsecured renovation loan with a fixed rate and no monthly fee. Funds were split—some paid directly to the roofing contractor and the rest for cabinetry and appliances—leaving one predictable repayment and a clear end date.

How much can I borrow with a renovation loan?

Typical loan sizes range from $5,000 to $75,000+, depending on project scope, income stability and overall commitments. Secured options can unlock higher limits and sharper pricing; unsecured options prioritise speed and flexibility. Lenders review quotes and recent bank-statement conduct to size the facility sensibly so repayments remain manageable.

Home Renovation Loan Repayment Calculator

Estimate repayments and total cost. Adjust the amount, term and rate to plan your project before you apply.

Loan Amount
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Establishment Fee
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Loan Term (months)
Interest Rate
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Total amount to repay
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Your repayments
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Balance over time

Am I eligible for a renovation loan?

Eligibility centres on affordability, income stability and a clear project plan with quotes or invoices. Stronger profiles or secured options can access sharper pricing and higher limits.

You may be eligible if you are:

  • An Australian resident aged 18+

  • Employed, self-employed or receiving acceptable income

  • Able to show serviceability via bank statements

  • Meeting minimum credit criteria (score/history)

  • Borrowing for bona fide home improvement purposes

How to apply for a renovation loan?

Complete a quick online application and upload documents. We’ll compare offers across secured vs unsecured and coordinate settlement—either to your account or directly to trades and suppliers.

Documents you may need:

  • Photo ID (driver’s licence or passport)

  • Recent bank statements (3–6 months)

  • Payslips or income verification

  • Quotes or invoices from builders/suppliers

  • Asset details if offering security

How to save money on a renovation loan

Compare rate and fees—use the comparison rate for true cost. Stage your project where possible so you only borrow what you need, when you need it. Shorter terms reduce total interest, while longer terms ease monthly cash flow. Consider secured options if you’re comfortable offering collateral for sharper pricing, and check early-repayment policies so you can pay it down faster without penalty.

Example: Term impact — $40,000 at 10.99% p.a. (approx.):

TermApprox. Monthly RepaymentTotal Interest (approx.)

3 years (36 mths)

$1,308

$7,088

5 years (60 mths)

$869

$12,140

7 years (84 mths)

$689

$18,888

Understanding renovation loan options

Structure and features affect price, flexibility and project control. Key options include:

Secured vs Unsecured Loans

Secured loans (often against a car) may allow larger limits and lower rates but put the asset at risk if repayments are missed. Unsecured loans are faster and flexible, usually at higher rates.

Fixed vs Variable Rates

Fixed rates lock in predictable repayments; variable rates can move with the market and may save money if rates fall—but could rise.

Direct-to-Supplier Payments

Pay builders or vendors at settlement to secure materials and lock in work schedules, ensuring funds are used as intended.

Staged Drawdowns

For multi-phase projects, staged drawdowns let you access funds in steps, reducing interest on unused amounts.

Early Repayment Flexibility

Look for extra repayments and early payout with low or no penalty so you can clear the balance sooner and save on interest.

Rate-for-Risk Pricing

Sharper pricing goes to stronger profiles. Improving bank-statement conduct and reducing other debts before applying can help.

Testimonials

VerifiedVerified Review

I couldn't be happier with the service I received! Robyn made the whole car finance process so simple and stress free. She explained everything clearly, kept me updated the whole way through, and went above and beyond to find me the best deal. I honestly didn't think it would be this smooth, but she took care of all the hard work and I was in my new car before I knew it. Highly recommend to anyone looking for finance.

harry b.

Review posted on 2025-09-10

VerifiedVerified Review

We recently had the pleasure of working with Eujin to secure a car loan, and we couldn't be more grateful for his assistance. Eujin went above and beyond to ensure we got the best possible terms. His professionalism, dedication, and willingness to help were evident throughout the entire process. Thank you, Eujin, for making this experience smooth and stress-free. Highly recommend his services!

Bstl 1.

Review posted on 2023-06-28

VerifiedVerified Review

What a great bloke to deal with... Thank you Brad for all your help and making our dream a reality. We will be contacting you again shortly.

John Z.

Review posted on 2025-09-03

VerifiedVerified Review

I was completely impressed with their professionalism and customer service.. highly recommend. Special Mention to Ray thank you for assisting me in this journey

David A.

Review posted on 2023-11-08

VerifiedVerified Review

I had such a great experience with Evette when sorting out my car loan. She made the whole process really easy and stress-free, was always quick to answer any questions, and genuinely cared about getting me the best outcome. Super friendly and professional. I'd happily recommend Evette to anyone looking for a car loan!

Dillon F.

Review posted on 2025-08-20

VerifiedVerified Review

Incredibly seamless experience! Highly recommend

Tracy W.

Review posted on 2024-01-03

Frequently Asked Questions

Home Renovation Loan FAQs

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

How much can I borrow for renovations?
Are funds paid to me or to my builder?
Is a secured or unsecured loan better?
How long can I repay a renovation loan?
Can I stage my project and draw funds gradually?
Will renovations increase my property value?
Can I repay early without penalty?
What documents do I need?
How fast can I be approved?
Will applying affect my credit score?
The information, tools, and material presented on emumoney.com.au are provided for informational and comparative purposes only and do not constitute financial advice or a recommendation. While we strive to ensure the accuracy and timeliness of the information provided, we make no guarantees or warranties, either expressed or implied, regarding the completeness, accuracy, reliability, or suitability of the information, products, services, or related graphics contained on this website. The loan rates, terms, and repayments presented are based on user inputs and the data provided by lenders in our network. These are estimates and indicative figures only. Actual loan rates, terms, and repayments may vary based on the specific lender, your creditworthiness, market conditions, and other factors not accounted for in our tools.
^The comparison rate shown is for a secured loan amount of $30,000 over a term of 5 years based on monthly repayments. 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. Any calculations or estimations do not constitute an offer of credit or a formal credit quote and is only a calculation of what you may be able to achieve based on the information you have entered. It does not consider suitable product features or loan product types. Rates + repayments shown are based on user inputted data. All applications for credit must be verified prior to the formal assessment process. All applications for credit approval are subject to lender credit approval. Approval is not guaranteed.
The minimum loan term available is 6 months, and the maximum loan term is 84 months. Maximum Annual Percentage Rate (APR): The maximum APR, which includes the interest rate plus fees and other costs calculated annually, is 29.29% per annum. Representative Example: For a loan amount of $30,000 over a term of 5 years (60 months) at an annual interest rate of 6.3% p.a., the total repayment amount including all fees and charges would be $36,471.67, with a monthly repayment of $607.86.