Choose your Modular Kitchen Design and Get a Loan for a Modular Kitchen in Just a Few Steps.
Published on : July 20, 2022

A kitchen is the pride of every home and by far the most frequented part of the home. It requires special attention when you build your home or when you work out your home renovation plan.  Switching from a traditional kitchen to a modern modular kitchen design can help you organise your space better, remove the clutter and make the kitchen efficient, functional and an aesthetic delight. Based on the size of your family and the space available in the kitchen, you can choose your modular kitchen design. 

Straight – The modular kitchen could be a straight one covering one single wall lengthwise. This is perfect for small families with basic requirements. Make sure it is not longer than 12 feet else walking up and down the length could become a chore. This is a budget-friendly option for a small modular kitchen.

Here are a few popular modular kitchen design options that could inspire your Kitchen renovation plans –

L-shaped –  This is the standard design preferred in most kitchens where an L shape is created with 2 adjacent walls. This is a good combination of budget, utility, storage and aesthetics. This can accommodate 1-2 cooks and is a good functional design. Make sure you have sufficient lighting so that no area is dark.

U-shaped – U-shaped kitchens cover 3 walls and this is possible only when the kitchen has a single door.

This allows for sufficient storage. It is functional and efficient and offers a good workspace in the centre. This is perfect when 2-3 people are working in the kitchen. It allows ease of movement and accessibility to things.

Parallel – This is a design where you have modular platforms running along parallel walls. It gives you sufficient counter space which can be efficiently used. This is perfect for large families with 2-3 people cooking.

Island – This is a fashionable option in large kitchens where you can have an island counter in the centre. In an apartment, it would be difficult to connect the gas stove in the centre unless the entire building has a similar plan. You can have the cooktop on the side counter and use the island counter for storage, casual seating etc.

Peninsula – This design is similar to an island except that the island counter is attached to the wall. It becomes a part of the entrance to the kitchen. This counter can be used for a quick breakfast or converted into a bar when you have guests over.

There are so many eye-catching options to choose from that you have your work cut out for you.  Get in touch with your interior designer and get them to plan and execute the best fit for your kitchen.

Now that the design is out of the way, let us talk money!  A kitchen renovation project can set you back by a few lakhs depending on the material you use and the labour involved. When the interior designer submits the estimate, don’t get all flustered and worked up. Just take a deep breath and remember LoanTap is here for you with tailored loans that can meet your kitchen remodelling needs without you having to break your bank account.

Personal Loans for modular kitchens from LoanTap are available from INR 50,000 to INR 10,00,000 for tenures ranging from 6 months to 60 months at interest rates starting from 18% p.a.

Who can Apply for a Loan for a Modular Kitchen?

If you want to apply for a loan for a modular kitchen,  you will need to meet the following criteria –

  • You will need to be an Indian citizen or resident
  • You must be over the age of 21 years
  • You have a net monthly income of over INR 30,000
  • Your credit score of 630 or more.

How Should You Apply for a Loan for a Modular Kitchen?

  • You will need to download the LoanTap app on your smartphone.
  • Next, you will need to fill out an online application providing the necessary information.
  • As a third step, you will need to upload the basic documents like 
    • PAN Card
    • Aadhaar Card
    • Salary slips for the last three months
    • Bank statements for the last six months
  • Now you need to wait while the system processes the information provided and completes the verification.
  • Once the verification is through, your loan is approved.
  • Once the loan is approved, the amount is credited to your bank account, ready for withdrawal.

You can repay the loan using one of the flexible repayment options offered by LoanTap that are discussed below –

Term Loan – In this option, EMIs will include both principal and interest components and be paid over the agreed tenure.

Step Up Loan – In this option, the borrowers will get an interest holiday for the first three months, following which the normal EMIs resume. This is good in cases where a big expense has just been incurred and the monthly budget needs time to come back to normal.

EMI Free Loan – This option allows borrowers to pay only the interest component on a monthly basis while the principal is paid in bullet payments on a quarterly or half-yearly basis. This is good for those who get lump sum payments on a periodic basis.

Overdraft Loan – Under this alternative, the preapproved amount is sanctioned as an overdraft. You can get the sanctioned amount but you will be billed only for the actual amount used based on the period of usage. This option is useful where the amount to be spent is uncertain and the expenses happen in instalments over a period of time.

You can foreclose the loan after 6 months without any prepayment penalty. LoanTap has a transparent process with no hidden charges. 

Why Choose LoanTap?

LoanTap offers tailored loan for modular kitchens that can be repaid in easy instalments over the agreed tenure. The process is seamless and transparent involving minimal documentation.  The entire process from start to finish is completed within 24-36 hours. The application is safe and there is no compromise of personal information. You can use the step-up option and get an interest holiday for the first three months or you can choose the overdraft option and pay based on actual withdrawals. LoanTap understands your need for short-term finances and helps you best manage your finances. If you are looking to remodel your kitchen, you can take a look at the loan for a modular kitchen offered by LoanTap. Download the app today!