New Delhi, Jan. 30 -- There could be a number of reasons to raise apersonal loan. It could be an emergency or tobuy a luxury item or even to pay for home renovation. Although there are some people who go to the extent of taking out aloan for travel or luxury - such practices are best to be avoided.

Renovating a home is seen as an investment and therefore it does not harm to raise a personal loan for the same.

These are some of the reasons when it does not hurt to raise a personal loan for the home renovation.

1.Home loan limit exhausted: When you have raised a home loan to purchase a property, and there is no more scope to get a top up on it. You can, in such a case, raise a personal loan to meet the deficit.

2.Raw house: If you have ...