The LoanKaWala Home Solutions Package helps you realize your dream home. We have put together an attractive Renovation Loan package that offer as per your monthly income!

Eligibility

Loans can be applied by individuals, either solely or jointly. Owners of the current property within the family or blood relations, which the loan is being required, will have to be co-applicants. However, the co-applicants need not be co-owners.

Specific eligibility criteria are as follows:

A. Salaried Individuals

• Any individual who is in permanent service in Government or reputed companies
• The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation
• Min. Net Monthly Income: Rs.12,000/= per month

B. Professionals

• Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants only) can apply
• The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

C. For self-employed individuals

• Minimum annual income should be Rs.1.44 lakh as per the P & L
• Minimum gross annual income should be Rs.1.44 lakh
• Firm/company should have been in operation for the last 3 years
• Firm/company should be making cash profits for the last two years
• Any individual filing Income Tax returns can apply
• The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Improve your home With LoanKaWala Home Improvement Loans, you can now borrow against your existing home to decorate, paint, renovate, furnish, extend or simply change the way your home looks. You can avail these for repairs, painting, plumbing, tiling, flooring, fixing grills, etc. in your home.

Build up its equity

You can build up equity in your home by making improvements in the property. This makes the value of your home increase - not just cosmetically, but also monetarily.

Attractive interest rates

We offer Home Improvement Loans at very attractive interest rates. And what's more, there are no hidden charges to it.

This type of home loan is for the renovation or repair of the home which is already bought. The home improvement loan is a specially designed loan system which caters to the need of the homeowner in improving, restoring or renovating their existing homes. With a fixed rate of interest the home improvement loan program offers adequate scope to the homeowner whilst turning their home into their dream homes with the necessary improvements and remodeling.

Home Improvement Loan

Home Improvement Loan - HIL facilitates internal and external repairs and other structural improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminums windows.

Maintenance and repair, additions and alterations, or replacement of equipment or structural elements

Various types of loans are available with housing finance companies to suit the needs and budget of individuals. Improvement loans or home renovation loans are taken when one needs to carry out the repair or renovation work. It's in addition to taking a loan for purchasing a house. There are various finance companies and nationalized banks offering such types of loans.

To get the repairs and/or renovation work done of your residential property you can take a Home improvement or renovation loan. It is chiefly taken to carry out civil work like plumbing or modifying up the kitchen or painting of the house. You cannot take a renovation loan if you want to undertake furniture work. Furniture work or woodwork doesn't fall under the category of "civil work" that is why you cannot take loan for this.

Home Renovation Loan India

To get the home improvement loan or home renovation loan sanctioned, a quotation must be acquired from a qualified civil contractor or engineer or architect. The same must then, be submitted to the home loan department for approval. Once the 'technical department' of the said housing finance company has approved the quotation only then the loan will be disbursed.

The sanction limit for renovation loans or home improvement loan is around 85% of the property cost. This percentage includes the home loan amount as well. Renovation loans are sanctioned only after the original property papers are in order and submitted to the housing finance company from where you want to obtain a loan. The loan will not be sanctioned without them. Therefore, in such a scenario, in case an individual has an existing housing loan from a particular housing finance company, then he will have to necessarily opt for a renovation loan from that housing finance company. This is because the original property papers will be with the housing finance company, which will not be in a position to transfer them to another housing finance company while the home loan payment is on.

Our key benefits

• Attractive loan interest rates
• Home loan amounts suited to your needs
• Tenure can range upto 20 years for Housing Loan.
• Simplified Documentation
• Doorstep Delivery
• Insurance Option available for your house loan.
• Guidance through out the process
• All salaried and self-employed individuals can apply for the Home Loan products
• Speedy Loan Approvals
• Get Maximum loan amount for purchase of your dream home
• Higher loan eligibility
• Enjoy the flexibility of choosing your loan tenor
• Easy repayment option by way of simple EMIs
• High Eligibility for Businessmen
• Quicker Turnaround time

No matter what the requirement, we have an appropriate plan for you, though most of our home loan plans are for salaried/self-employed Resident Indians or NRIs. Get the best deals ever, and finance the perfect home, only from LoanKaWala.

With our varied offering of house loans and home finance, LoanKaWala Home Loans gives you an opportunity to select the perfect home loan as per your needs of a dream home.

Documentation

Some documents are specific to each state. For further information, please contact our Hyderabad LoanKaWala office.

All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the HFC. Service Tax on All Service Charges extra wherever applicable.

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