Everything you need to know about Grihum Housing Finance Home Improvement Loan

The right home renovation can help you customise your home, as per your needs and optimise space effectively. While the smaller repairs can be made easily, it is the larger upgrades that require higher funding. This is where you can consider taking a home improvement loan, to give your home a dream makeover.

With a home improvement loan from the right lender, you can refurbish your home by enhancing its interiors, install new fixtures or fittings, and enjoy the experience of giving your home a customised makeover. This also increases the value of your property for reselling purposes, in future, if required. Grihum Housing Finance understands your unique needs and offers Home Improvement Loan to suit diverse requirements.

Why should you take a home improvement loan?

For those planning home improvements, it is best to take a Home Improvement Loan that helps you fund your needs easily. Read to know how a home improvement loan can help you solve your home improvement needs.

• Increase in property’s cost: Even if you go for remodelling the kitchen, living room, or any small undertaking, it makes your home aesthetically appealing. A well-organized home improvement plan can increase the value of your property to 10% or more depending on the locality, which is quite a number.
  A smart home renovation strategy requires ample funds for which most people may feel burden to extract funds from their monthly income. In this case, a home improvement loan can come to the rescue.

• Tax benefits: One of the benefits of taking a home improvement loan is tax benefits. Under Section 24 of the Indian Income Tax Act, 1961, you are entitled to claim tax benefits of up to Rs. 30,000 p.a. on the home improvement loan you’ve applied for. However, note that one cannot claim any kind of tax benefits on the principal amount of the home improvement loan under section 80 C that offers tax deduction benefits in case of housing loans.

• No need to liquidate your funds: Fetching funds from your savings or salary for remodelling any part or the entire home can drain your bank account. Hence, it is advisable to go for a home improvement loan, like the one offered by Grihum Housing Finance at affordable interest rates.

• No burden on your financial needs: Everyone dreams of owning a beautiful home. However, the need for making smart changes your home needs, may arise a few years after you’ve purchased it. When it comes to making any changes to your home, the sky is the limit. If you’re planning to change interiors, the cost may range from 10% to 40% of the project cost.

With a home improvement loan, you not only get to plan your internal and external renovation, but also get to finance painting, tiling, flooring, sanitary work, interior upgrade, and more.

Fund your dream home renovations with our Home Improvement Loan

For those looking to renovate their homes by making structural changes or replacing interiors, Grihum Housing Finance offers Home Improvement Loan that can help you upgrade your dream home without worrying about finances.

Here’s how our loan can help you remodel your home, as per your unique needs and convenience.

• Remodel your kitchen: When renovating your kitchen, you may consider installing new appliances, lighting fixtures, flooring, cabinets, backsplashes, faucets, or counters. If you’re worried about these expenses, fret no more. With our Home Improvement Loan, get the sanctioned loan amount to make changes to your kitchen, as per your dreams and needs.

• Renovation of bathrooms: As another crucial aspect of your home, bathroom remodelling can involve installation of plumbing or electrical fixtures, and tiling. It may involve factors such as design, cost, contractors, and resources. Moreover, if you prefer investing your monthly income to renovate bathrooms, it can end up burning a hole in your pocket. In this scenario, consider taking our Home Improvement Loan to cater to your needs.

• Upgrade interiors: You may consider installing wall shelves, wallpapers, paintings, or flooring, when upgrading your interiors. However, this can be a huge investment and financing it with your savings may disturb your contingency plan. A better option would be to choose Home Improvement Loan from Grihum Housing Finance, to upgrade your place into a cosy one. At Grihum Housing Finance, we customise your loan as per your needs.

• Replacing cracked tiles, floors, and doors: Replacing cracked tiles, damaged floors, or creaking doors in your home, include cost of labour and purchase of new tiles, flooring, doors, or fixtures. The best way to finance these costs, is to take a home improvement loan that helps you make these replacements without worrying about finances.

• Additional home upgrades: Your home is the haven that offers comfort. You can always beautify your personal paradise by repainting its walls, replacing bathroom or kitchen accessories that also add value to your home. Finance your basic upgrades by applying for Home Improvement Loan from Grihum Housing Finance and repay as per your convenience.

Why choose Grihum Housing Finance Home Improvement Loan?

Once you’ve planned your home improvement, it is important to choose the right lender for financing your needs. With several financiers operating in the space, it can be daunting to choose the right lender. However, if you’re looking for easy eligibility criteria, affordable interest rates, transparent fees and charges along with convenient application processes, consider taking Home Improvement Loan from Grihum Housing Finance.

Read on to find out why Grihum Housing Finance can be the right lender for you.

• Affordable interest rates and zero hidden charges: Grihum Housing Finance offers the convenience of easy home renovations at affordable interest rates starting at just 9.50% p.a. without any hidden charges.

• Loan for all home improvement needs: It’s quite exciting to remodel your existing home to suit your needs. At Grihum Housing Finance, we understand your needs and offer attractive home improvement loan for salaried professionals, and self-employed individuals. Our loans are tailored as per the diverse needs of everyone.

• Budget-friendly loan schemes: Our loans start from as low as ₹5 lakh, at affordable interest rates starting at just 9.50% p.a. With zero foreclosure charges for floating rate home loans, you can ensure a cost-effective home improvement.
  What’s more – you get the convenience of doorstep services and a dedicated relationship manager to ensure your home improvement journey is convenient and smooth.

• Repair, renovate, and Restore: Regardless of whether your home improvement is at a large or small scale, our home improvement loans are customised to suit all your needs. You can choose to fund all your repair, renovation, remodelling and replacement needs, as per your home improvement plan.

• Quick approval and disbursal: One of the advantages of getting a loan from Grihum Housing Finance is that you get to enjoy the benefit of quick approval and disbursal. This helps you benefit from quicker access to funds, so you can plan your home improvement conveniently.

• Flexible repayment tenure: When it comes to repaying our Home Improvement Loan, you can choose tenures, as per your comfort and convenience. You can also choose a longer tenure, so your EMIs don’t end up straining your finances.

Easy eligibility and minimal documentation for our Home Improvement Loan
If you’re worried about availing instant financing, without arduous paperwork and lengthy eligibility processes, your search ends here. We have easy eligibility norms, and you need to submit just a few basic documents for getting approved at Grihum Housing Finance.
Here’s our basic eligibility criteria:

• At the time of availing home improvement loan, your age should be between 21 and 65 years, or the retirement age, whichever is lower
• If you’re a salaried professional, your minimum monthly salary should be ₹20,000 with at least one year of experience
• If you’re a self-employed individual, your gross annual income should be at least ₹3 lakh
• If you’re an entrepreneur, you should have at least 3 years of experience in your current business

Get approvals on your loans with our easy eligibility criteria. Additionally, here are the basic documents you need to submit:

• Photo Identity Proof: A copy of your Aadhaar card, PAN card, Passport, Driving License, Voter’s Identity card

• Income Proof: A copy of last 3 months’ salary slip and Form-16 for salaried individuals Income Tax Returns along with computation for last 2 years and profit/loss statement and balance sheet for last 2 years for self-employed individuals
  Income Tax Returns along with computation for last 2 years, profit/loss statement and balance sheet for last 2 years, and GST returns for entrepreneurs

• Address Proof: You need to submit a copy of your passport/electricity bill

• Property Documents: : You need property documents along with legal and technical clearance of the property

Steps to apply for Grihum Housing Finance Home Improvement Loan

Applying for a home loan is a very simple process that involves just these 5 simple steps:

• 1. Visit our application form and fill in your basic details
• 2. Submit your KYC, income documents along with bank account statements
• 3. Our team will quickly verify and assess your documents
• 4. After verification, we will proceed with a quick approval process
• 5. After approval, the loan amount is credited to your bank account at the earliest

Once you get the funds, you can easily give your home the look you’ve always dreamt of! Make your dream of home improvement a reality, with our affordable loan.