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Home Improvement Loans

   

The interiors of any home reflect the personal preferences and tastes of its owners making it imperative to constantly upgrade to keep up with changing times. With HDFC's Home Improvement Loans you can now renovate your existing space for a more comfortable environment and a better quality of living.

This renovation loan facilitates internal and external repairs and other structural improvements like Painting, Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills, Aluminium Windows compound walls and much more.

  • Purpose
    • External repairs
    • Tiling and flooring
    • Internal and external painting
    • Plumbing and electrical work
    • Waterproofing and roofing
    • Grills and aluminum windows
    • Waterproofing on terrace
    • Construction of underground/overhead water tank
    • Paving of compound wall (with stone/tile/etc.)
    • Borewell
  • Maximum Loan Amount
    Existing Customer
    Loan Amount Maximum Funding*
    Upto Rs 75 lacs 100% (subject to loan/ total exposure not exceeding 80% of the market value of the property as assessed by HDFC)
    Above Rs 75 lacs 100% (subject to loan/total exposure not exceeding 75% of the market value of the property as assessed by HDFC)

    * Subject to market value of the property and repayment capacity of the individual, as assessed by HDFC

    New Customer
    Loan Amount Maximum Funding*
    Upto Rs 75 lacs 80%
    Above Rs 75 lacs 75%

    * Subject to market value of the property and repayment capacity of the individual, as assessed by HDFC
  • Maximum Term
    15 years subject to your retirement age
  • Applicant and Co- Applicant to the loan
    Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners.
  • Adjustable Rate Home Loan
    Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
    * Conditions Apply
Interest Rate

Salaried and Self-employed professionals :
     
Wef : 1st December, 2013 RPLR: 16.75%  
 
Loan Slabs Applicable Variable rates %
( Monthly Rest Basis )
Basis : RPLR minus Spread
Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
Over Rs. 30 lacs 10.75% to 11.25% RPLR - 6.00 to - 5.50

Click here to view our special interest rates

Self-employed non-professionals :
     
Wef : 1st December, 2013 RPLR: 16.75%  
 
Loan Slabs Applicable Variable rates %
( Monthly Rest Basis )
Basis : RPLR minus Spread
Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
Rs 30.01 lacs to Rs 3.00 Cr. 10.75% to 11.25% RPLR - 6.00 to - 5.50
Rs 3.01 Cr. to Rs 5.00 Cr. 11.00% to 11.50% RPLR - 5.75 to - 5.25
Rs 5.01 Cr. And above 11.25% to 11.75% RPLR - 5.50 to - 5.00

Click here to view our special interest rates

The above rates are subject to change without notice.