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Transform Your Space

Upgrade Your
Home.

Get funds for renovation, repairs, or adding a new floor with flexible repayment options and expert legal support.

Structural repairs Interior upgrades Floor addition

What is a Home Renovation Loan?

A loan designed to fund upgrades, repairs, or extensions to your existing home. It covers costs for materials, labor, and contractor fees.

Stage-Wise Disbursement

Similar to construction loans, funds for major renovations are often released in stages based on work progress verification.

Banks verify progress before releasing the next tranche.

Who Should Opt for This?

  • Adding a new floor or room
  • Major structural repairs
  • Modernizing interiors (kitchen, flooring)
  • Painting and waterproofing

Key Considerations

  • Structural changes require municipal approval
  • Cost estimates must be certified
  • LTV is usually lower than purchase loans

Calculate Your Renovation Loan

Estimate your EMI, eligibility, and renovation budget.

₹
%
Years

Monthly EMI

₹29,983

Total Interest₹23,96,940
Total Payable₹53,96,940

Note: These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.

Documents Required

Checklist for Home Renovation / Extension Loan

Property Documents (Mandatory)

Existing registered Sale Deed
Occupancy Certificate (OC) / Completion Certificate (CC)
Khata Certificate & Latest Tax Paid Receipts
Encumbrance Certificate (EC) – full chain (recommended)

Renovation / Extension Documents

Detailed renovation cost estimate (certified by architect / engineer)
Contractor quotation
Renovation / extension plan approval (mandatory if structural changes)
Stage-wise renovation schedule
Photos of existing house (interior + exterior)

Income & Eligibility Documents

Latest income proof (salary slips / ITRs)
Bank statements (last 6 months)
Existing loan statements (if any)

Note: Renovation loans involve higher scrutiny than standard home loans, especially for structural changes.

Bank & NBFC Insights

  • Most banks disburse renovation loans in stages based on work completion.
  • Structural extensions require mandatory local authority approval.
  • NBFCs are more flexible for internal renovations but rates may vary.
  • PSU banks may ask for additional site inspections.

Expert Tip

Ensure you have a detailed cost estimate from a certified engineer or architect. This is crucial for loan sanction and determining the LTV ratio.

Our Banking & NBFC Partners

We work with India's top lenders to fund your home upgrades.

I

Indian Bank

8.5% onwards
15 Years
B

Bank of Baroda

8.6% onwards
15 Years
S

SBI Home Loan

8.7% onwards
20 Years
H

HDFC Home Loan

8.75% onwards
20 Years
A

Axis Bank

8.8% onwards
15 Years
L

LIC HFL

8.8% onwards
20 Years
I

ICICI Bank

8.9% onwards
15 Years
B

Bajaj Finserv

9.0% onwards
15 Years
K

Kotak

9.0% onwards
15 Years
G

Godrej Capital

9.2% onwards
15 Years
T

Tata Capital

9.5% onwards
15 Years
L

L&T Finance

9.6% onwards
15 Years

Planning a major home upgrade?

Get expert advice on renovation financing, structural approvals, and cost estimation.