Home renovation loan
Half of the people who want a home renovation loan ask for up to €1,023 and repay it over 24 months. One application in seven, however, is for more than €10,000. At that amount, the choice of loan is worth thousands of euro.
The figures come from 7,447 renovation applications at CREDiPORT over three years. The cost of the loan is worked out for €1,023, €5,000 and €15,000.
How much people borrow for a renovation
Most renovation loans are small and short: 57% are up to €2,000 and are usually repaid within a year. With each larger group the amount grows and the term gets longer:
Share of renovation applications by amount requested and typical term (median), scale from 0 to 100%. 7,447 CREDiPORT applications, 20 October 2023 to 19 October 2026.
As the amount grows up to €10,000, so does the share of people who live in their own home. For applications of up to €2,000 it is 46%, and for €5,000–€10,000 it reaches 56%. For larger amounts this gives one more choice, a loan secured on property.
For small amounts, renovation is the most common purpose: in small-loan applications at CreditArena it accounts for 29% of those that state a purpose, typically €2,450 over 18 months.
People borrow for renovation all year round
Renovation's share of consumer loan applications is lowest in May, 18.0%, and in January, 18.5%. It is highest in November, 22.7%, followed by December at 22.5% and June and August at 22.4%. The difference between the weakest and the strongest month is under five points.
Renovation's share of all consumer loan applications by month, scale from 0 to 25%. CREDiPORT, 20 October 2023 to 19 October 2026.
Which loan for what amount
For a small amount the simplest option is a consumer loan over a year or two. For a large amount the difference between types of loan becomes significant. The calculation with equal monthly payments:
| Loan | Total repaid, € | Payment, € |
|---|---|---|
| €1,023 over 24 months consumer loan, 14.81% | 1,188.23 | 49.51 |
| €5,000 for 36 months consumer loan, 14.81% | 6,223.02 | 172.86 |
| €5,000 for 60 months consumer loan, 14.81% | 7,107.09 | 118.45 |
| €15,000 for 10 years consumer loan, 6.74% | 20,659.12 | 172.16 |
| €15,000 for 10 years secured on property, 4% | 18,224.12 | 151.87 |
The BNB average for over 5 years also includes loans with collateral. Without collateral the interest is usually higher, so in practice the gap with a loan secured on property is larger than €2,435.
For the consumer loan we have used the Bulgarian National Bank (BNB) average rate on new consumer loans in September 2026 for the matching term. It is 14.81% for a term of over 1 and up to 5 years and 6.74% for a term of over 5 years. The average for over 5 years also includes secured loans, so for an unsecured loan the gap with the mortgage may be larger. The 4% rate is at the upper end of bank loans secured on property, which in their published examples have an APR of 2.82% to 4.25%. Non-bank lenders are more expensive.
On €5,000, the two extra years of term cost about €900 in interest but lower the payment by €54. Choose the shortest term whose payment you can still manage in a bad month.
On €15,000 over 10 years, a loan secured on property works out about €2,343 cheaper. Against that you have to set the property valuation, the notary and the registration fee. For a €50,000 loan the notary fee is about €368 excluding VAT, it is lower for a smaller amount, and the registration fee is 0.1% of the amount.
The bank looks at income too: with a loan secured on a home, the payments on all your loans must not exceed 50% of your monthly income. The terms of banks and non-bank lenders are collected in loans secured on property. Work out the payment for your amount and term in the loan calculator.
See renovation loan offers
The typical renovation is €1,023 over 24 months, with a payment of about €50 at 14.81%. Apply for your own amount and term.
To a consumer loanSources: applications at CREDiPORT and CreditArena; BNB, interest rate statistics for September 2026 and the measures on loans secured by residential property in force from 1 October 2024; Tariff of notary fees; Tariff of state fees of the Registry Agency; the representative examples of banks for loans secured on property as at September 2026. More data: how much credit people ask for according to salary · what people want loans for (in Bulgarian).