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Home Renovation Loan − Give Your House a Makeover

Home Improvement Loan is one of the easiest ways to fund your dream of giving your home a new look and renovating it as per your desire. And now this loan can be applied online with a few clicks with easy installment options.

Home improvement loan, as the name suggests, is used to improve your existing home like adding a new room, adding a new balcony or making some improvement in the existing home structure.

It is also popularly known as repair and renovation loans.

With AAVAS home renovation loans, you can upgrade your existing home to a modern look and comfortable living.

A home improvement loan is an ideal choice if you want to increase your living space or make some design improvement as per your desires. Also, as one’s family grows, so does the need to improve and add more space to accommodate rising demands of the family members. Believe it or not, home improvement loans are the most cost-effective way to fulfill this need for more space.

Features of Aavas Home Improvement Loan

  • We offer loans for improving your home in many ways such as tiling or flooring, plaster or painting, etc.
  • Attractive interest rates
  • Tenure of up to
    • 30 years for salaried customers (from government/ PSU/ Private sector)
    • 25 years for other salaried customers
    • 20 years for self-employed customers.
  • Integrated branch network that facilitates loan servicing at a branch convenient to you.

With the help of Aavas Home Loan Eligibility Calculator, you can easily calculate the eligibility amount and then follow Home Loan EMI Calculator to know your EMIs that you will be required to pay.

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Loan Amount, i.e=1000000

Home Improvement Loan FAQs

loan for home renovation is taken by people for the renovation and improvement of their home or property. Like adding one more room or giving your home a new look.

The applicant must follow the following steps to apply for the Home Improvement Loan

  • Fill up the application form
  • Submit the required documents such as land documents, age and residence proof and income details.
  • On successful submission of the application, deposit the processing fee
  • After loan approval, you will get the required home loan.

Now processing time is very fast and on average the loan is sanctioned within a week

Application form
The individual seeking for a loan should fill the complete application form with a photograph filling in all the necessary details correctly.

Age proof
Documents like passport, PAN card, or any other document from the government should be attached as age proof of the loan seeker.

Residence proof
Documents like electricity bill, telephone bill, ration card, driving license, voter Id card or any other government-issued document should be attached as residence proof

Education Qualifications
The academic qualification of the loan seeker should be attached with the application form

Salary statements/ Certificate for business existence

Bank Account Statement
A bank account statement is submitted to get information about other loans of the individual and also to know the financial position of the individual.

Fee cheque for processing fees of the loan
A cheque in the favour of the institution from which the loan is taken is to be attached for the processing fees of the sanctioned amount.

Photocopy of the property papers
The photocopy of the property papers should be attached along with the application form

To Get more details about the Documents Required for Home Improvement Loan Click Here

Home Improvement Loans can only be used to fund the purchase of immovable furniture and fixtures and other home extension expenses like repairing and colouring.

Flexible repayment options, Competitive interest rate, Quick and fast approvals are the major benefits of a home renovation loan.