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Improvement
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Home Improvement Loans allow you to fund the renovations, repairs, and upgrades your house needs.

Redo your home interiors or make improvements in your home.

Home improvement loans offer a convenient financing solution to existing home owners for meeting renovation, repair and upgrade requirements.

Affordable interest rates, faster turnaround time, and simple documentation help ease the process of upgrading and sprucing up your home.

  • Purpose
  • Who can apply
  • Benefits
  • Documents required
  • Maximum loan
  • Interest rates

Home improvement loans are meant for renovations or repairs to existing, owned properties.

  • Salaried
  • self-employed
  • professionals
  • non-individuals (corporations)
  • Expert guidance at your doorstep
  • Simple, quick and hassle-free process
  • Attractive interest rates
  • Easy documentation
  • Tax benefits
    Section 24

    As per the Section 24 of the Income Tax Act, interest paid on the capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction of a maximum amount of INR 2,00,000. The property should be self-occupied. For rented out property there is no limit to the amount of deduction.

    Section 80C

    As per the Section 80C of the Income Tax Act, you can get a maximum deduction of INR 1,50,000 from the income, on repayment of principal during a financial year.

Salaried employees
  • Duly filled application form with photograph
  • Age proof (PAN card or passport or any other certificate from statutory authority)
  • Residence proof (Passport or driving license or telephone bill or ration card or election card or aadhaar card)
  • Education qualifications – certificate
  • Last 3 months salary statements
  • Form 16 for last 2 years
  • Last 6 months bank statements (salary account)
Self-employed/professionals
  • Duly filled application form with photograph
  • Age proof (PAN card or passport or any other certificate from statutory authority)
  • Residence proof (Passport or driving license or telephone bill or ration card or election card or aadhaar card)
  • Education qualifications – certificate
  • Certificate & proof of business existence along with business profile
  • Last 3 years Income Tax Returns (self and business) with profit & loss account & balance sheets duly certified/audited by a Chartered Accountant
  • Last 12 months bank account statements (self & business)

Up to 75% of the cost of extensions or repairs. Construction period allowed up to 18 months. Loan value and term subject to regulatory caps and personal repayment capacity.

Fixed Rate of Interest Floating Rate of Interest
Minimum Maximum Minimum Maximum
11.00 % p.a. 16.00 % p.a. 9.00 % p.a. 16.00 % p.a.
*Above rates are currently applicable and are subject to changes from time to time.
FAQs - Home improvement loans

A home improvement loan covers complete renovation of a home including interior & exterior work for example: flooring, air conditioning, roofing, plumbing etc.

Yes, a construction estimate from an architect with an item-wise costing sheet is required to be submitted.

Registered Office

2nd floor, DLF Centre, Sansad Marg
New Delhi - 110001.
Tel: +91-11-49546000
CIN: U65990DL2017PLC322041

Corporate Office

713 & 714, 'A' Wing, Kanakia Wall Street,
Andheri Kurla Road, Chakala, Andheri (East),
Mumbai - 400093
Tel: +91-22-4938 5000

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