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 HDFC Bank's House Renovation Loans, you can upgrade your existing home to a contemporary design and a more comfortable living space.
18-70 years
Salaried
Resident Indian
Up to 15 years
18-70 years
Salaried
Resident Indian
Up to 15 years
It is a loan for renovating (without altering the structure/carpet area) your home in ways like tiling, flooring, internal / external plaster and painting, etc.
Any person who wishes to carry out renovation in their Apartment/Floor/Row house. Existing home loan customers can also avail a House Renovation Loans.
You can avail a House Renovation Loans for a maximum term of 15 years or till your age of retirement ,whichever is lower.
Interest rates applicable on house renovation loans do not differ from the interest rates of home loans.
House Renovation Loans can only be used to fund the purchase of immovable furnitures and fixtures
Yes. You are eligible for tax benefits on the principal components of your house renovation loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.
Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.
You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have invested your own contribution in full.
We will disburse your loan in installments based on the progress of construction/renovation as assessed by HDFC Bank.
Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC Bank.
All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC Bank’s products and services. For detailed information about HDFC Bank’s products and services kindly visit the nearest HDFC Bank branch.
Click here for the Most Important Terms and Conditions pertaining to your loan.
