A home is usually said to be a reflection of its owner. You can now spruce up your home and make renovation a milestone as memorable and enjoyable as home buying. With Home Renovation Loans you can upgrade your existing home to a contemporary design and a more comfortable living space

Loan Amount

The maximum Home Improvement Loan amount can go up  up to 90% of the market value of the property. Loan repayment tenure can be up to 30 years.

Documents Required

  • Pan Card Number
  • Passport Photo
  • Address Proof
    (Valid Driving License / Valid Passport / Aadhar Card)
  • ID Proof
    (Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card)
  • Home documents

Eligibility Criteria

Eligibility factors for home improvement loans are similar to that of a housing loan. You can apply for house renovation loans either individually or jointly.

  • All owners of a home or property for the renovation of which the loan is availed must be co-applicants.
  • The minimum age limit to apply for loan should be 21 years.
  • Repayments have to be completed before the age of 60 years (salaried employees) and 65 years (self employed).
  • Any salaried, self-employed or self employed professional can apply for a home renovation loan.
  • The maximum loan amount can go up to 90% of the market value of the property. Loan repayment tenure can be up to 30 years.

Purpose of taking a Home Renovation Loans

You can avail of a Home Renovation loan for various purposes as mentioned below:

  • Flooring or Roofing
  • Plumbing
  • Plastering
  • Electrical Work
  • Painting
  • Grills and Sliding Doors & windows
  • Parapet wall & Boundary wall Underground or Overhead water tank
  • Replacement of doors & windows or Non-movable Assets viz. etc.
  • And complete renovation of existing house.

Home Renovation Tips

  • Consult an Architect
  • Increase Efficiency, Not Size
  • Do Your Own Demo
  • Consider Long-Term Costs, Not Just Short-Term Gains
  • Don’t Overspend on Wall Prep
  • Make Decisions Early
  • Small Rooms don’t have to Look Small