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Home Improvement Loans - Grihum Housing

Home Improvement Loan

Give your home the care it needs

Home Improvement Loan by Grihum Housing Finance Limited

Your home is not just a structure, it's an embodiment of your personality and style.

We understand the pride you take in your home. That's why we offer specialised Home Improvement Loans or Home Renovation Loans designed to turn your ideas of a perfect home into a reality.

Tailored Home Improvement Solutions

Our Home Improvement Loans are crafted with your needs in mind.

Whether you envision a complete makeover or desire specific enhancements like redesigning interiors, incorporating new technology, making essential repairs, or conducting regular maintenance, our affordable and customisable loans have you covered.

Explore the Features & Benefits of our Home Loan

Our feature-rich Home Improvement Loan schemes are designed for a seamless and pleasant experience.

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Home Loan for all your housing needs

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Affordable housing loans

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Balance transfer

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Top-Up loan

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Flexible
repayment tenure

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Minimum documentation

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Attractive interest rates

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End-to-end
doorstep service

  • Discover Unparalleled Benefits of Taking Home Improvement Loan
    Embark on your homeownership journey with Grihum Housing Finance, where your dreams find a home. We understand that owning a home is more than a transaction, it's an emotional investment.
  • Comprehensive Solutions for Every Dream House
    Whether you're envisioning a new home, expanding your current space, constructing your dream abode from scratch, or considering a resale property, we have the perfect Home Loan solution for you.
  • Affordability at its Core
    Our commitment to making homeownership accessible is reflected in our affordable Home Improvement Loans, starting as low as ₹5 Lakhs, coupled with competitive interest rates.
  • Financial Freedom, Simplified
    Managing your Home Improvement Loan has never been more straightforward. Transfer your outstanding home loan amount to Grihum Housing Finance and reduce your monthly EMIs effortlessly.
  • Flexibility Tailored for You
    Enjoy the freedom to choose a repayment tenure that suits your lifestyle, ranging from 1 to 30 years.
  • Hassle-Free, Swift Process
    Experience a streamlined journey with Grihum Housing Finance. Our straightforward eligibility criteria and minimal documentation ensure a hassle-free application process.

Our Home Improvement Loan Eligibility Criteria is simple with minimal documents

Embarking on the journey to homeownership should be exciting, not burdensome.

At Grihum Housing Finance, we've simplified our Home Improvement Loan eligibility criteria to ensure that your dream home is within easy reach.

Salaried Individuals Self-Employed Individuals Firm / Company
Eligible Borrowers Government / Semi government / PSU / Private and MNC companies / Proprietorship or Partnership firms
  • Proprietor / Partners / Directors
  • Or Self-Employed Professionals like Chartered Accountant, Company Secretary & Doctors
Partnership or Private Limited companies engaged in Manufacturing, Servicing or Trading
Age The minimum age of applicant at the time of loan application should be a 21 years and maximum of 65 years or the retirement age, whichever is lower. The minimum age of applicant at the time of loan application should be a 21 years and maximum of 65 years or the retirement age, whichever is lower. The minimum age of Proprietor / Key Partner / Key Director at the time of loan application should be a 25 years and maximum of 65 years or the retirement age, whichever is lower.
Income Net monthly take-home salary should be minimum ₹ 20,000 Gross annual income should be minimum ₹ 3 Lakh Annual turnover should be minimum ₹ 10 Lakhs
Experience / Vintage Minimum One year Minimum Two years in current Business or Profession Business stability / Vintage of minimum 3 years
Citizenship Individuals with Indian Citizenship Individuals with Indian Citizenship Proprietor / Partners / Directors with Indian Citizenship

Documents Required for Home Improvement Loan

Salaried Individuals Self-Employed Individuals Firm / Company
Identity Documents
  • PAN Card
  • Aadhaar Card
  • Passport (Not Expired)
  • Driving License with Photo
  • Voters Identity card issued by the Election Commission of India
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • PAN Card
  • Aadhaar Card
  • Passport (Not Expired)
  • Driving License with Photo
  • Voters Identity card issued by the Election Commission of India
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • Firm / Company PAN Card, GST Registration Certificate (If applicable) and Other Applicable Registration documents
  • KYC of Partners / Directors (PAN Card and Aadhaar Card)
Address Proof
  • Aadhaar Card
  • Passport (Not Expired)
  • Driving License with Photo
  • Voters Identity card issued by the Election Commission of India
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the National Population Register containing details of name and address
  • Aadhaar Card
  • Passport (Not Expired)
  • Driving License with Photo
  • Voters Identity card issued by the Election Commission of India
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the National Population Register containing details of name and address
  • Electricity bill for owned premises
  • Rent agreement for rented premises
  • Passport for Partner / Directors
Income Documents
  • Latest 3 months’ salary slip
  • Form 16
  • Income Tax Returns along with computation for last 2 years
  • Profit/Loss statement and balance sheet for last 2 years
  • Income Tax Returns along with computation for last 2 years
  • Profit/Loss statement and balance sheet for last 2 years
  • GST Returns
Bank Account Statement Latest 6 months’ bank statement evidencing salary credits Operative bank account statement for last 6 months Operative bank account statement for last 6 months
Property Documents Property documents along with legal & technical clearance of the property

Know our Home Improvement Loan Interest Rates & Charges

Understanding the financial aspects of your Home Improvement Loan is essential.

We believe in complete transparency and affordability, ensuring that your homeownership journey is smooth and stress-free.

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Competitive Interest Rates for Your Comfort

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Flexible Foreclosure Charges

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Transparent Processing Fee

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Comprehensive Information

  • Competitive Interest Rates for Your Comfort
    Our Home Improvement Loan interest rates are not just competitive; they are designed to be affordable, starting at just 9.00% to 20.55% p.a.
  • Flexible Foreclosure Charges
  • Transparent Processing Fee
    A processing fee of 0.50% on your sanctioned loan amount plus GST is applicable.
  • Comprehensive Information
    For detailed information on other fees, please refer to our provided link.

About Grihum Housing Finance Home Improvement Loan

Your home is a reflection of your own personality. From interiors, decors to wall colours now customize each and every detail to your desire with our affordable and tailor-made home improvement loan offering.

Whether you want to remodel your space or make home improvements like redesigning the interiors, installing new technology, making basic repairs and regular maintenance, you can do so with Grihum Housing Finance Home Renovation Loan. Now, get ready to fulfil every big or small housing need easily.

Frequently Asked Questions About Home Improvement Loans

What is a Home Loan and how does the process work?

A home loan is a secured loan/credit option provided for housing purposes like purchase, construction, extension, or renovation of residential property. The loan eligibility largely depends upon several factors like employment, annual income, credit score, and more. Post verification of your eligibility and property documents, the loan is disbursed. Then, your Equated Monthly Instalment (EMI) will start for the availed home loan repayment. A home loan is said to be closed when the principal and interest component is completely paid off by the borrower either until the end of loan tenure or by way of prepayment.

How to apply for Grihum Housing Finance Home Loan?

a. You can apply for our Home Loan through a simple and hassle-free online application:

  • Click on Apply online and fill in a loan application form with your basic details
  • Submit your KYC, Income & Property documents, and Bank account statements to check your loan eligibility
  • There will be a quick verification and assessment of your documents
  • We’ll follow a quick process to approve your loan application
  • Once approved, your home loan will be instantly transferred to yours or the builder’s bank account, as per your request.

b. You can call us on our Toll-Free Number 1800-266-3204 and talk to our representative for personal assistance.

c. Or you can visit us at our branch near you, click here to locate the address.

What is the minimum loan amount that I can borrow?

We provide home loans starting from ₹ 5 Lakhs onwards.

Can I use Home Loan for renovation and improvement?

Yes, you can renovate, modify or make improvements to your house with our Home Loan offering.

What are the types of Home Loans provided?

With Grihum Housing Finance Home Loans, you can do more than just buying a home! We provide loans for self-construction of Bungalows / Independent Houses, purchase of new Houses / Flat / Villas, or for purchases of re-sale Houses / Flats / Villas / Bungalows. You can also avail of our home loan for flat extension/renovation/improvement.

Do I get any tax benefits on Home Loan?

Yes, if you’ve opted for the old tax regime, your home loan is eligible for tax deductions under section 80C. You can claim a deduction of up to ₹ 2 Lakh and up to ₹ 1.5 Lakh for principal repayment.

What is the Home Loan interest rate at Grihum Housing Finance?

Our home loan offering come with affordable interest rates starting at 9.55% p.a.

How do I calculate my Home Loan EMI?

To calculate easy monthly instalments for the home loan amount you want to apply, you can use our simple and effective Home Loan EMI Calculator. All you need to do is enter these 3 important components:

a. Home Loan Amount

b. Loan Repayment Tenure

c. Interest rate

What are my Home Loan tenure options?

At Grihum Housing Finance, we offer you longer loan repayment tenure of up to 30 years.

Is there any age limit to apply for Home Loan?

Yes, to avail of our Home Loan, the applicant must meet the defined age criteria:

  • Salaried or self-employed individual must be minimum 21 years at the time of loan application and maximum 60 years at loan maturity.
  • Proprietor/director of firm/company, should be minimum 25 years at the time of loan application and maximum 65 years at loan maturity.
Is there a property insurance required for Home Loan?

There is no stated obligation for the applicant to take property insurance. But it is highly recommended, as buying home loan insurance offers security that covers the loan borrower’s outstanding loan liability if he/she dies during the loan repayment term.

How to get a Home Loan statement?

To get your home loan statement or if you have any other query, you can drop an email at customercare@grihumhousing.com or call us on 1800-266-3204. Our Customer Care support team is just a call away for all your needs with regards to your loan with us.

Can I get a Top Up Loan facility with Grihum Housing Finance?

Yes, we do provide a Top Up Loan to our existing customers, allowing them to borrow a certain amount over and above their existing home loan with the benefit of attractive interest rates and longer tenures.

What are the documents needed to avail a home loan?

As we provide Home Loan for salaried individual, self employed individuals and companies, you can check the complete list of documents required as per your applicant category in our Eligibility and Documents section.

What are the eligibility criteria for Home Loan?

We have different eligibility criteria for salaried individuals, self-employed individuals, and firms / companies. To know and understand your eligibility criteria, please refer to our Eligibility and Documents.

How can I check my Home Loan eligibility?

To know if you are eligible for Grihum Housing Finance Home Loan offering, refer to our Eligibility and Documents. section. You can contact us on our Toll-Free Number 1800-266-3204 or visit our nearest branch for personal assistance.

Who all are eligible for a Balance transfer loan?

We provide Home Loan for salaried individuals, self-employed individuals, and companies starting at 9.55% p.a. To know the detailed eligibility criteria as per your applicant category, kindly click and refer our Eligibility and Documents section. You can also enjoy the advantage of lower monthly payments by transferring your outstanding home loan availed from other banks/financial institutions to Grihum Housing Finance.

What are the benefits of availing Grihum Housing Finance Home Loan?

Our Home Loans are designed to cater to a wide range of housing needs of our customers, be it the purchase of residential construction / under-construction projects, extension, or renovation of property. Finance your housing dream with our home loans involving quick processing and unmatched benefits such as:

  • Affordable loans starting from as low as ₹ 5 Lakhs
  • Simple eligibility criteria and minimum documentation
  • Flexible repayment tenure up to 30 years with no foreclosure charges
  • Completely transparent loans with zero hidden charges
  • PMAY scheme with maximum interest subsidy of up to ₹ 2.67 Lakhs
  • End-to-end doorstep service
Can I have a co-applicant for Home Loan? Who can I include?

Yes, you can avail Grihum Housing Finance Home Loan with a co-applicant who can be your immediate family member. This helps to make you eligible for a significantly higher loan amount while sharing the loan repayment and availing higher tax benefits.

How to Apply for Home Loan In 5 Easy Steps?

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Enter your personal details

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Select State
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Select your state and city

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Our Home Loan representative will contact to you for next steps to complete your application process.

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