Home Improvement Loan -

The interiors of your house reflect your personality and to constantly upgrade it in terms of looks and convenience and make renovation a milestone as memorable and enjoyable as home buying.

Advantages of taking Home Improvement Loan -

  • The loan is available at very competitive rates of interest, currently available in the industry.
  • Option for different EMI amounts for different periods during tenure of loan to suit customer’s repayment capacity
  • Simplified application form/procedures for convenience of customers, and speedy approvals.
  • Repayment upto 70 years also allowed to salaried employees having assured post retirement income.
  • Prepayment of Loan permitted. No prepayment charges under floating rate option.
  • Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.
  • Life Insurance Cover to borrowers for Loan Protection(optional).
  • Highly flexible - maximum 30 yrs. Loan to be normally repaid before date of retirement in case of salaried persons and before attaining 70 years of age in case of others.

Covers under Home Improvement Loan

  • Complete renovation of already owned residential property
  • Upgradation
  • Repair of your house/flat
  • External & internal repairs/paint
  • Water-proofing & roofing
  • Tiling and flooring
  • Plumbing & electrical work
  • False ceiling & woodwork (fixed to the building)

Home Loan Calculator

  • Monthly Home Loan EMI per lakh is Rs. 741, which is one of the lowest EMI offered by banks. Housing loan EMI is calculated based on loan amount, loan tenure and interest rate.
Loan Amount 10 Year Loan 20 Year Loan 30 Year Loan
₹ 20 Lakh
₹ 24,372/-
₹ 16,854/-
₹ 14,815/-
₹ 30 Lakh
₹ 36,558/-
₹ 25,281/-
₹ 22,223/-
₹ 50 Lakh
₹ 60,929/-
₹ 42,134/-
₹ 37,038/-

Documents Required For Salaried & Self Employed -

CategorySalariedSelf Employed
Proof Of Identity (Any One)
  • PAN Card/ Voter ID Card / Aadhar Card / Valid Passport.
  • PAN Card/ Voter ID Card / Aadhar Card / Valid Passport.
Proof Of Residence (Any One)
  • Aadhar Card / Utility Bills/ Voter ID Card/ Valid Passport/ Driving License
  • Aadhar Card / Utility Bills/ Voter ID Card/ Valid Passport/ Driving License.
Proof Of Income
  • Latest Salary-slips/salary certificates for 3 months.
  • Form 16 for last 3 years (if available)
  • Latest 6 months bank statement which salary credit.
  • Income Tax Returns coupled with the computation of income of both the applicant and the business entity (attested by a certified CA) for the last 3 assessment years.
  • Balance Sheet and P & L account statements with Annexures/Schedules of both the business entity and the applicant (attest by a certified CA) the last 3 years.
  • Savings account statements of the applicant and the current account statements of the business entity for the last 1 year.
Property Related Documents
  • Title Deeds of the Property
  • Estimate for construction assessed by a Civil Engineer/ an Architect
  • Encumbrance Certificate
  • Photocopy of the plan sanctioned by Local Authorities
  • Title Deeds of the Property
  • Estimate for construction assessed by a Civil Engineer/ an Architect
  • Encumbrance Certificate
  • Photocopy of the plan sanctioned by Local Authorities
Other Documents
  • Employee ID card
  • Appointment Letter
  • The detail of ongoing loans statement (if any)
  • Processing fee cheque favouring the bank/financial institution
  • Duly filled application form affixed with passport size photographs of all the applicants/co-applicants and signed across.
  • Business Profile
  • Memorandum and Articles of Association of the Company
  • Partnership deeds if the business entity is established as a partnership firm
  • List of Shareholders and Directors with their respective shareholdings if the business entity is established as a company (certified by a CA)
  • Bank account statements of both the individual and the business entity indicating details of ongoing loans if any.
  • Processing fee cheque favouring the bank/financial institution
  • Duly filled application form affixed with passport size photographs of all the applicants/co-applicants and signed across.
* Terms & Conditions Apply.