Home Improvement Loan
Credit Marg's Home Improvement Loan is designed to help you renovate or upgrade your home effortlessly. With attractive interest rates and flexible repayment options, you can fund repairs, remodeling, or new installations with ease. Turn your dream home into reality with our simple and quick loan process.
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh & Up to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| Public Sector Banks | |||
| Bank of Baroda | 8.40% – 10.65% | 8.40% – 10.65% | 8.40% – 10.90% |
| Punjab National Bank | 8.45% – 10.25% | 8.40% – 10.15% | 8.40% – 10.15% |
| Punjab & Sind Bank | 8.50% – 10.00% | 8.50% – 10.00% | 8.50% – 10.00% |
| SBI | 8.50% – 9.85% | 8.50% – 9.85% | 8.50% – 9.85% |
| Union Bank of India | 8.35% – 10.75% | 8.35% – 10.90% | 8.35% – 10.90% |
| Bank of India | 8.35% – 10.85% | 8.35% – 10.85% | 8.35% – 11.10% |
| UCO Bank | 8.45% – 10.30% | 8.45% – 10.30% | 8.45% – 10.30% |
| Bank of Maharashtra | 8.35% – 11.15% | 8.35% – 11.15% | 8.35% – 11.15% |
| Canara Bank | 8.50% – 11.25% | 8.45% – 11.25% | 8.40% – 11.15% |
| Indian Overseas Bank | 8.40% – 10.60% | 8.40% – 10.60% | 8.40% – 10.60% |
| Private Sector Banks | |||
| HDFC Bank Ltd. | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| Kotak Mahindra Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| ICICI Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| Axis Bank | 8.75% – 13.30% | 8.75% – 13.30% | 8.75%- 9.65% |
| Karur Vysya Bank | 9.00% – 11.05% | 9.00% – 11.05% | 9.00% – 11.05% |
| South Indian Bank | 8.70% – 11.70% | 8.70% – 11.70% | 8.70% – 11.70% |
| Karnataka Bank | 8.50% – 10.62% | 8.50% – 10.62% | 8.50% – 10.62% |
| Federal Bank | 8.80% onwards | 8.80% onwards | 8.80% onwards |
| Dhanlaxmi Bank | 9.35% – 10.50% | 9.35% – 10.50% | 9.35% – 10.50% |
| Tamilnad Mercantile Bank | 8.60% – 9.95% | 8.60% – 9.95% | 8.60% – 9.95% |
| Bandhan Bank | 9.16% – 15.00% | 9.16% – 13.33% | 9.16% – 13.33% |
| RBL Bank | 8.90% onwards | 8.90% onwards | 8.90% onwards |
| Housing Finance Companies (HFCs) | |||
| LIC Housing Finance | 8.50% – 10.35% | 8.50% – 10.55% | 8.50% – 10.75% |
| Tata Capital | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| PNB Housing Finance | 8.50% – 14.50% | 8.50% – 14.50% | 8.50% – 11.45% |
| Repco Home Finance | 9.60% onwards | 9.60% onwards | 9.60% onwards |
| GIC Housing Finance | 8.80% onwards | 8.80% onwards | 8.80% onwards |
| Sammaan Capital (Formerly known as Indiabulls Housing Finance) | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| Aditya Birla Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| ICICI Home Finance | 9.30% onwards | 9.30% onwards | 9.30% onwards |
| Godrej Housing Finance | 8.55% onwards | 8.55% onwards | 8.55% onwards |
| L&T Finance | 8.65% onwards | 8.65% onwards | 8.65% onwards |
| Foreign Banks | |||
| HSBC India | 8.50% onwards | 8.50% onwards | 8.50% onwards |
| Standard Chartered Bank | 8.95% onwards | 8.95% onwards | 8.95% onwards |
Quick Guide on Home Loan:
Purpose:
A home loan can be used for purchasing a new house, construction of the house on a plot, home improvement, extension, and renovation of your existing house.
Key Features :
- Eligibility: Loan available for both salaried and self-employed borrowers between the age group of 21 and 75 years.
- Security: Mortgage of home you are planning to purchase, renovate, or construct.
- Loan Amount: In the range of Rs. 10 Lakh to Rs. 1000 Cr.
- Loan to Property Value Ratio: Varies from 75% to 100%.
- Loan Tenure: Can range from 5 to 30 years.
- rates: Home loan Interest Rates start from 7.99%. Special rates for women borrowers.
- Lowest EMI: Lowest EMI of Rs. 836 per lakh.
- Processing Fees: Up to 1% of the loan amount or a Maximum of Rs. 10,000.
- Prepayment Charges: Nil charges on floating rate home loans.
- Other Charges: Legal charges, technical charges, etc.
- Documents Required: Address Proof, Identity Proof, Income.
Sanction List of Documents:
Salaried:
- Application form completed with 2 photographs duly filled in and signed.
- ID Proof: PAN CARD.
- Residence Proof: Latest Telephone bill / Bank Statement containing the address for the last 6 months / Electricity bill / Ration card / Letter from Employer.
- Salary slips for the last 3 months.
- Latest Form 16.
- Copy of Appointment Letter with Latest CTC & Confirmation Letter.
- Original Bank Statement / Passbook of salary A/C for the last 6 months (updated).
- Last Qualification Proof.
- Previous Employment details if an applicant is on probation.
- Investment Proof.
- Processing Fees Cheque.
- Repayment Track Record if any.
Self Employed:
- Application form completed with 2 photographs duly filled in and signed.
- Â ID Proof: PAN CARD.
- Residence Proof: Aadhaar Card/ Latest Telephone bill / Bank Statement containing the address for the last 6 months / Electricity bill / Ration card
- Last Three Year Income Tax Return with computation of Income and Profit Loss Account And Balance sheet With CA attestation.
- Current Account And Saving Account Bank Statement / Passbook for the last 6 months (updated).
- Last Qualification Proof.
- Business Vintage Proof ( Minimum 3 years Old)
- Investment Proof.
- Processing Fees Cheque.
- Repayment Track Record if any.