Personal Loan for Home Improvements

Planning renovations? Apply for a loan to fund your home improvements, renovations or repairs and pay it back over time.

See if you qualify
Our Products /   Loans /   Personal Loan for Home Improvements

Why an RCS Personal Loan makes home renovations easier

 

Your home is probably your biggest investment. From home makeovers to storm damage and every DIY job in between, an RCS loan can help you get it done.

Apply online in just minutes and, if approved, your funds can land in your account within 30 minutes. Flexible repayment terms make it easy to manage your home improvement costs through monthly instalments.

Features

Benefits of an RCS Personal Loan

See if you qualify a Loan

* Terms and Conditions apply.

Calculate Monthly Instalments

Calculate Your Home Improvement Repayments

Before you apply, use our loan repayment calculator to get a quick estimate of your monthly repayments. From planning a home improvement, planning renovations or budgeting for home repairs, adjust the loan amount and repayment term to see what suits your budget and building plans.

R

10k

300k

months

12

18

24

36

48

60

Estimated Monthly Repayment

R

* Terms and Conditions apply.

Your final loan amount and term will be confirmed once you complete the full application.

See if you qualify for a Loan

Financing Your Home Renovation - an Example

Thandi takes a loan of R10 000 to fix her roof or upgrade her bathroom. Repaying it over 24 months, her instalments could look like:

For a loan of R10 000 over 24 months with an annual interest rate, a once-off initiation fee of R1 207 and a monthly service fee of R69, the monthly instalment would be R711.90, with a total amount payable of R17 085.68.

Note: Our interest rate will never exceed the maximum as prescribed by the NCA. Fees are subject to change and will be affected by the customer’s risk profile.

How to Apply

Get Your Loan in a Few Easy Steps

See if you qualify

You can apply if you

  • Are 18 years and older
  • Have a South African ID or driver’s license
  • Have a South African bank account
  • Are employed and earn R3,000 or more per month
  • Can provide proof of income documentation

We’ll need the following documents from you

  • A South African ID or driver's License
  • Latest pay slip or bank statements

Our Application Process

  1. Start your application process here

    Answer a few simple questions and and you’ll get a response within seconds. If you are provisionally approved, you can move on to Step 2.

  2. Next, compete the full application

    Complete an easy application and submit your proof of income documents online.

  3. Access your cash loan

    Once approved, your loan will be deposited into your bank account within 30 minutes.

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Get Your Free Credit Score in Minutes

Checking your credit score is free, safe and won't affect your credit rating.

1. Register using your South African ID number

2. View your personalised credit score and credit report dashboard

3. Access tips and recommendations to help improve your credit profile

RCS, in partnership with Welltec Group, offers free access to personalised credit reports and financial wellness tools.

Free Credit Score Check

Want To Know More?

What can I use my loan for?

A personal loan can help cover a range of planned or unexpected expenses, from home improvements and medical bills to emergency costs or study-related needs. You can use a personal loan for:

  • Home Improvements: Repairs, upgrades or renovation costs.
  • Emergencies: Financial support for those urgent expenses that come up.
  • Studies: School or university fees, books or study equipment.
  • Weddings: Expenses such as venue hire, photography, entertainment or other celebration costs.
  • Vehicle Expenses: Unexpected costs when your car breaks down or to keep up with planned, essential. maintenance.

When applying, use the RCS Loan Repayment Calculator to choose an amount and repayment term that fits comfortably within your budget, align it to a meaningful purpose, and make sure you’re borrowing because it makes financial sense, not simply because you can. First, see if you qualify.

What credit score do I need for a loan?

You will need to ensure your credit score is in good standing, however, your credit score is not the only consideration. Most financial service providers apply their own rules to each application. Here is more information on what credit score is needed for a loan.

Can I use an RCS Personal Loan to buy building materials?

Yes, you can use a personal loan to pay for building materials for home improvements, renovations and repairs. If your loan is approved, the funds are paid into your bank account, which gives you the flexibility to buy what you need for your project. RCS partners with a range of building and home improvement retailers. 

Is a personal loan for home improvements the same as a home loan?

No, a personal loan for home improvements is different from a home loan. An RCS Personal Loan is a flexible cash loan that you can use for home improvements, DIY projects or repairs, while a home loan is specifically for buying a property.

How much can I borrow for home renovations?

Depending on your profile, you can get a personal loan for renovations starting from as little as R2 000 up to R300, 000. Because we are an NCR-registered credit provider [NCRCP 38], and follow National Credit Act guidelines, we assess your credit score, income, expenses and other factors to determine whether we can provide you with credit. Your first step is to see if you qualify. 

See if you qualify How to Apply Loan Terminology Terms and Conditions

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