Home Renovation Loan
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Home Renovation Loan offerings by Piramal Capital & Housing Finance Ltd. (Piramal Finance)
Key Features
Loan amount
₹ 5 Lakhs - 2 Crore
Loan tenure up to
30 years
Interest rates starting at
9.50%* p.a
For detailed fees and charges Click here *T&C apply
Who Can Apply?
The eligibility criteria mainly depends on your employment. Choose the employment type and check your eligibility.
Documents Required
For a House renovation loan, we require certain documents based on the profession/occupation of the applicant.
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KYC Documents
Proof of Identity & Address
Income Documents
Proof of Income
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For Salaried
- Last 3 months salary slips
- Form 16
- Bank statements from the previous six months and pay stubs
- Documentation of the collateralized property
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For Self Employed
- ITR for the previous two years, with computation
- CA audited financials wherever applicable
- 6 months primary bank statement
Property Documents
Land & property related documents
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Property-Related Documents
- Stamped agreement of the sale / Sales Deed or the letter of Allotment
- NOC from the builder / housing society
- Possession Certificate
- Detailed Construction cost estimation
- Bank Account Statement
- In case of Constructed Apartment - Occupancy Certificate
Co-applicants
- Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
- Co-applicant can be spouse or any first blood relative like parents, siblings, children who hav attained age of maturity (s.t income-ownership grid)
- All co-owners of property should be on loan structure
- Friends cannot be co-applicants (allowed only if they are coming in the capacity of Partners / Directors / Shareholder)
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Advantages of Home Renovation Loan
Easy Home Improvement Loan Eligibility
It is simple to get a house improvement loan from Piramal Finance as we have easy eligibility norms and require a few basic documents. Even if you don’t have formal income proof documents such as ITR, our local experts are trained to assess your income so that they can help you determine the loan amount you can comfortably repay. To increase your eligibility, you can even add a co-applicant, who could be your spouse or an immediate family member.
Loans for all homeowners
Our home renovation loan helps both salaried individuals like government employees and corporate professionals, as well as self-employed individuals like doctors, lawyers, CAs, traders, and small business owners. We are committed to your dream of making your home safe and secure for your children to grow up.
Repairs, Renovations, and more
Whether your need is big or small, we finance them all. You can get a home improvement loan starting from ₹ 3 lakh up to ₹ 5 crores for various types of repairs and renovations, such as painting, tiling, flooring, waterproofing, plumbing, sanitary work, etc. The only condition is that you can get the loan only if your improvement project can be completed within a year.
Quick Loan disbursal
It can take as little as 72 hours to get your loan disbursed. This is because, at each one of our 135+ Piramal Finance branches, we have a team of legal and technical experts to help you. Our experts can review your application on the spot and answer all your questions face-to-face so that you don’t have to deal with multiple visits or document requests.
Interest Rates and Tax Benefits
If you have already had a home improvement loan from another financial institution for the past 2-3 years and are paying interest of over 11%, you can shift to Piramal Finance to reduce your home loan EMI burden. Shift to Piramal Finance with our Balance Transfer facility to get the undivided attention of our experts, choose from competitive interest rate options, and get tax benefits for your home improvement loan under Section 24 of the Income Tax Act, 1961.
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Frequently asked questions
What is a House Renovation Loan?
Worried about high EMIs or the duration of your loan? Our flexible tenures and repayment options make it easy for you to choose how to repay the amount you borrow. With a dedicated relationship manager assigned to answer all your queries, you can completely focus on upgrading your home as required by the customers of Bharat. With our hassle-free processes, you will never have to worry about extensive paperwork or long wait times either. Are you ready to bring your home into the future with a house renovation loan?
Follow these steps to get a home renovation loan from Piramal Finance now:
- Go to our application form and fill out the details.
- Submit all your Income and KYC documents.
- Wait till the application gets processed for verification.
- If everything meets the eligibility criteria, your loan will be approved within a few minutes.
- Subsequently, the loan amount gets disbursed and credited to your bank account