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Those who want to preserve their savings for emergencies or investments, and are on the old tax regime, may find a home-renovation loan a better fit. (Photo for representational purposes only)

Nov 29, 10:01 AM IST 3 min read

Homeowners looking to finance kitchen upgrades face a choice between home-improvement loans and savings. Those in the old tax regime can benefit from interest deductions on renovation loans, while the new regime offers no such advantages. Choosing a loan or savings depends on cash flow and liquidity, with renovation loans requiring less documentation post-original loan closure.

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