Transforming your dull, old house into the house of your dreams can be an exorbitant affair, especially if you haven’t planned it through. Thanks to the presence of modern financial tools, you can now renovate your home without burning a hole in your pocket. With Home Improvement Loans, you can upgrade, furnish and decorate your house.

These tools help you in opting for Secured Loans from the financial lender, against the mortgage of your property. Home Improvement Loans provide individuals with longer repayment tenures, attractive interest rates, and minimal documentation.

Steps to get a Home Improvement Loan

The procedure of taking a Home Improvement Loan differs from one bank to another. You can even apply jointly for a Home Loan where all the owners have to be co-applicants.

The dream of becoming a home-owner is just a few steps ahead!

Steps to get a Home Improvement Loan

1. Fill up the form

The process of applying for a Home Improvement Loan begins by filling up an application form (physical/online) where the borrower has to provide his/her personal information such as name, address, telephone number, monthly and annual income, and educational qualifications.

2. Documents verification

The second step ensures the verification of the documents provided by the borrower to the lender. This step may take up to 2 days of time during which the borrower may be summoned for a face-to-face interview. Through this step, the lender confirms whether the borrower is competent in repaying the loan amount within the specified time period.

3. Background check

The bank also conducts an investigation wherein it examines the background of the borrower. Through this survey, the bank verifies the information provided by the borrower to the bank such as a precise residential address, place of employment or office contact details.

4. Payment of Processing Fees

Only after the previously mentioned steps, the lender allows your process of Housing Loan, after the payment of the Processing Fees. The Processing Fees is an amount that is collected by the lender from the borrower to get started with the process. However, this step still does not confirm your loan.

5. Loan approval

The most climacteric stage in the entire process is the loan approval process when the lender decides whether to approve or reject your loan. The borrower must issue all the required documents accurately. It is at this stage that the borrower gets to know the maximum amount for the loan as well as the interest rates according to the tenure sanctioned by the lender. The borrower receives an official letter from the lender stating the same.

6. Technical verification of property or property documents

Following the loan approval step, the lender takes into custody all the original documents of the property until the whole amount of the loan is repaid. The lender verifies the property documents and even sends its representatives to physically scrutinize the property before approving the loan.

Essential Documents Required for Home Improvement Loan

Here is the list of complete Home Loan documents list required for applying for a Home Improvement Loan.

1. Completed Home Loan Application Form

2. Passport size photographs

3. Proof of Identification

4. Age Proof

5. Residence Proof

6. Income Documents

7. Property Documents

8. Bank Account Statements

9. Proof of Business (for Self-Employed)


Redesigning or modifying your home can be an additional financial stress for your family but you’re in luck because here’s where the Home Improvement Loans step in to help you design your dream project!

Disclaimer: All loans at the sole discretion of the HDFC Ltd. For detailed Terms and Conditions, visit; Toll Free: 1800 266 3345.