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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
11.00% p.a
For detailed fees and chargesClick here *T&C apply
Who Can Apply?
The eligibility criteria mainly depends on your employment. Choose the employment type and check your eligibility.
Calculate EMI & Check eligibility
EMI Calculator
Eligibility Calculator
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Documents Required
Whatsapp me this document list
For a Home Loan we require certain documents based on profession / occupation of applicant.
KYC Documents
Proof of Identity & Address
Mandatory Documents*
PAN card
Document Proof
Submit any one
Identity
Address
Aadhaar
Driving License
Voter's Identity Card
Passport
Job card issued by NREGA
Utility bills like Telephone Bill / Electricity Bill etc.
Letter issued by the NPR containing details of photo / name
Income Documents
Proof of Income
Mandatory Documents*
PAN card
Document Proof
Submit any one
Identity
Address
For Salaried
Last 3 months salary slips
Form 16
Bank statements from the previous six months and pay stubs
Documentation of the collateralized property
Property Documents
Land & property related documents
Mandatory Documents*
PAN card
Document Proof
Submit any one
Identity
Address
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
Mandatory Documents*
PAN card
Document Proof
Submit any one
Identity
Address
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)
Passport Size photographs
Mandatory Documents*
PAN card
Document Proof
Submit any one
Identity
Address
Whatsapp me this document list
Our Happy Customers
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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.
More Home Loan Products
Frequently asked questions
What is a House Renovation Loan?
It is a loan for renovating (without altering the structure/carpet area) your home in ways like tiling, flooring, internal/external plastering, painting, etc. With a home renovation loan, you can keep your hard-earned savings and investments untouched and pay off the amount borrowed in comfortably manageable installments over time.
What is the maximum term for which I can avail of a House Renovation Loan?
You can avail of a House Renovation Loan for a maximum term of 15 years or until your retirement age, whichever is lower.
When can I avail of disbursement for a House Renovation Loan?
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 contribution in full.
What credit score is necessary to be eligible for a home renovation loan?
Usually, a credit score of 600 to 700 makes borrowers eligible for home renovation financing.
Can salaried professionals opt for home renovation loans?
At Piramal Finance, we offer home renovation loans to all salaried professionals, including government and private employees.
Why Choose Piramal Finance for 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:
FREE Credit Report
Download Piramal App
Have Questions? Get In Touch With Us
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Piramal Capital & Housing Finance Limited, formerly known as Dewan Housing Finance Corporation Ltd.
CIN: U65910MH1984PLC032639
Registered Address: 601, 6th Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, Opp. Fire Station, LBS Marg, Kurla (W) Mumbai MH 400070
The content of this site is copyright-protected and is the property of Piramal capital and housing limited.
I applied for the Gruh Sethu home loan plan, which got approved for 29 years of tenure, which is what I needed. My family and I are so excited and happy to be moving into our new home soon.
Rajendra Rupchand Rajput