Home Renovation Loans

Whatever your home needs — inside or out, a full kitchen overhaul or a roof that can't wait — if you can comfortably manage the repayments, we can probably help.

We don't work off a list of "approved" projects. We look at you: your situation, your budget, and what makes sense for your today and tomorrow.

Instant Finance offers home renovation loans from $500 to $50,000, with personalised interest rates from 9.95% p.a. and, funds usually in your account within 24 hours.

At a glance:

• Loan amount: $500 to $50,000

• Interest rate: 9.95%–29.95% p.a., personalised and fixed for your loan term

• Loan term: 3 months to 7 years

• Funds: usually within 24 hours of approval and acceptance

• What it's for: any home project, inside or out — no restricted list, subject to affordability and responsible lending criteria

What is a home renovation loan?

A home renovation loan is simply a personal loan you use to pay for work on your home — anything from a full kitchen remodel to a leaky roof that can't wait, inside the house or out in the garden. You borrow an agreed amount, repay it over a set period, and the loan is shaped around what you can comfortably manage.

You don't need a separate "renovation loan" product to do this — with Instant Finance, it's simply a personal loan from $500 to $50,000 that you can put toward whatever your home needs.

What can a home renovation loan be used for?

Almost anything to do with your home, inside or outside! As long as your application meets our responsible lending and affordability criteria, the reason is up to you — there's no set list of "acceptable" renovations.

That said, if you're wondering whether your project fits, here are some of the things customers commonly use their loan for:

• Kitchen renovations, from a small refresh to a full remodel

• Bathroom renovations, retiling, waterproofing, or a complete refit

• Roof repairs, re-roofing, guttering, or other maintenance that can't wait

• Building or repairing a deck, fencing, or outdoor living spaces

• Garden landscaping, big or small

• Insulation and healthy homes improvements

• Painting, flooring, and general repairs

• Extensions and other bigger projects

If your project isn't on this list, that's fine too — it's a taste of what's common, not a boundary. If you're not sure, the easiest thing is to just ask — find your nearest branch or contact us.

Already an Instant Finance customer? You may be able to top up your existing loan to get extra funds for your renovation, rather than starting from scratch.

Get in touch with your branch to find out the best way to approach it.

Add value while keeping your costs under control

Renovations can add real value to your home and genuinely improve how you live in it — but it's easy for a project to grow bigger (and pricier) than planned.

A few ways people keep costs down without giving up on the project:

• Painting rather than replacing

• Retiling instead of a full bathroom rebuild

• Updating light fittings or storage rather than a full renovation

• Refreshing landscaping instead of a full redesign

• Replacing tired furniture or appliances individually, rather than all at once

If you've got the tools and the time, a DIY project can also help save on labour costs for some of the more straightforward jobs.

Whatever you land on, it's worth setting a realistic budget upfront and building in a bit of buffer — unexpected costs are common, especially once a project is underway.

How much does renovating actually cost?

Costs vary a lot depending on where you live, the condition of your home, and how big the job is — but here's a rough guide to help you plan, for a few of the more common projects:

Project	Typical NZ cost range	How a personal loan might fit
Kitchen Refresh or remodel	$10,000 - $50,000+	Covers anything from new appliances to a full upgrade
Bathroom renovation	$8,000 - $35,000+	Suits a small refresh through to a complete remodel
Roof repairs or re-roof	Varies widely by roof size	Can help cover urgent repairs without delay
Deck or Outdoor area	$5,000 - $30,000+	Materials, labour, or a staged project
Garden Landscaping	$2,000 - $25,000+	Smaller tidy-ups through to bigger re-designs

These are general guides only — always get a proper quote for your specific project. Older homes can sometimes cost more once you factor in things like plumbing, wiring, or weathertightness work that only becomes clear once a job is underway. That's normal, and it's exactly why it pays to build a bit of buffer into your budget.

It's also worth saying: plenty of the loans we approve through this page are for much smaller jobs than the figures above — a few thousand dollars for materials, a repair, or a smaller upgrade is just as welcome as a full-scale renovation. There's no minimum project size to have in mind before you apply.

Want a clearer picture of your own repayments? Use our loan calculator to see indicative weekly, fortnightly, or monthly amounts before you apply.

How it works

1. Apply online

Our online application takes most of the hassle out of it. Have your ID, proof of income, and proof of address ready and you'll be set.

2. We'll tailor your loan to you

Once we've got your application, our team looks at how we can help make it possible — and we'll be in touch about anything else we need, plus your personalised rate and repayment terms.

3. Get your funds, usually within 24 hours

Once you're approved and you've accepted the terms, in most cases the money is in your account within 24 hours or the next business day.

Want more detail on the process? Head to our How to Get a Loan page.

Start your application now

 

 

Why choose Instant Finance for your renovation loan?

• We look at you, not a checklist — approval is based on affordability and responsible lending criteria, not the type of project or a one off unpaid bill 5 years ago!

• Easy online application — apply for anywhere from $500 to $50,000, from your couch.

• Fixed rates, so no surprises — personalised interest rates from 9.95% to 29.95% p.a., set for the life of your loan.

• Fast funding — usually in your account within 24 hours of approval and acceptance.

• Real people, over 50 years running — we've been helping New Zealanders since 1971, and we're 100% Kiwi owned.

• Responsible lending, properly done — We'll not knowingly let you get in 'over your head'. We complete a detailed assessment to make sure that we understand the best loan term and loan amount for you.

Home Renovation Loans: Terms, Rates, and Fees Explained

Loan terms

Our minimum loan term is 3 months, and our maximum loan period is typically 7 years.

Interest rates

Instant Finance provides loans at an annual interest rate from 9.95% to 29.95% per annum.
The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us or others, the security you can provide and the loan amount.

Once set, our interest rate is fixed for the term of your loan.

Default interest rate

If you get behind in your loan repayments, then we may charge a default interest rate on any overdue loan payments, while they are unpaid. The Default rate that we charge is 10% per annum above the Interest Rate that normally applies to your loan.

On this basis the maximum annual interest rate charged would be 39.95%

Loan fees

We have various fees attributed to your loan which are added to your loan repayments.

Loan Example:

The amount repayable of your loan is made up of your interest rate, plus fees. For example, if borrowing $10,000 repayable over 3 years at an interest rate of 29.95% you would be required to make 156 weekly instalments of $102.54. This repayment is made up of interest, an establishment fee of $220, an ID verification fee of $7.70 and an administration fee of $3.00 per instalment.

Total interest would be $5,300.54 with total fees of $695.7 making the total payable over the full term $15,996.24.

Frequently asked questions

What can I use a home renovation loan for?

Pretty much anything to do with your home, inside or outside — there's no set list of approved projects. As long as your application meets our responsible lending and affordability criteria, the reason is up to you, whether that's a full kitchen remodel or something much smaller.

What should I think about before applying for a renovation loan?

A few things: whether your project needs council consent (which can add time and cost), what you're hoping to get out of it (comfort now, or resale value later), and how much you'll need to borrow. Our loan calculator can help with that last one before you apply.

How much can I borrow for a home renovation in NZ?

With Instant Finance, you can borrow anywhere from $500 to $50,000, over a term of 3 months to 7 years. How much makes sense for you depends on your income, expenses, and your project — our team will work through this with you before recommending an amount.

Can I get a loan to fix my roof or deal with urgent repairs?

Yes. A personal loan can cover roof repairs, re-roofing, guttering, or other maintenance that can't wait — you don't need to save up first if something needs fixing now.

Can I use a personal loan for a kitchen or bathroom renovation?

Yes — this covers cabinetry, benchtops, appliances, tiling, plumbing, fittings, painting, and labour, whether it's a small refresh or a full remodel.

Can I use a personal loan for landscaping or outdoor projects?

Yes. Decks, fencing, landscaping, and outdoor living areas are all common reasons customers come to us — loans from $500 can suit a smaller tidy-up, and larger amounts can cover a bigger outdoor project.

How much does a kitchen or bathroom renovation cost in New Zealand?

It varies a lot by size and finish, but as a rough guide: kitchen renovations typically run from $10,000 to $50,000+, and bathroom renovations from $8,000 to $35,000+. Always get a proper quote for your specific project — costs can shift once work is underway, especially in older homes.

See more general questions on our FAQs page