1 / 11

Easy way in which you can get your home renovation loans

Home renovation loans are something that we all need after a few years of owning a home. When you start living in a house, there are a lot of expenses you face. After a few years of living in a new house, you need to spend money to keep in good shape.<br>

littyjose90
Download Presentation

Easy way in which you can get your home renovation loans

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Easy way in which you can get your Home Renovation Loans

  2. Home renovation loans are something that we all need after a few years of owning a home. • When you start living in a house, there are a lot of expenses you face. • After a few years of living in a new house, you need to spend money to keep in good shape. • Home improvement loans can help you keep your home looking as good as new and in the best condition. • These loans can be acquired in addition to your house loans or separately as well.

  3. A simple home renovation can easily cost you a few lakhs and home renovation loans can help you finance it without breaking your bank. • When you take a home renovation loan as an add-on, the interest is added to your home loan interest rates. • This way you don’t need to pay separate EMIs for two loans.

  4. An easy way to fund your home improvements is by opting for a home loan balance transfer. • Housing loan interest rates are seeing fluctuations lately. • This can be attributed to the demonetization drive. • With the huge amounts of funds deposited into banks during demonetization in India, banks have reduced their home loan interest rites a great deal.

  5. But if you want to go for new home renovations loan, here are some tips that will help you go about it.

  6. What can I do with the loan A home renovation loan can be used for building additional structures on your existing property, like a new floor, a new garden or a garage and redoing the existing property?

  7. How to Apply If your home is under a co-ownership then you should have your loan co-signed by the other owner.

  8. What about the Tenure The tenure for a home renovation loan is very flexible. You can get loan from anywhere between 12 to 360 months.

  9. What Documents do I need • Both you and your co-signee would have to give your documentation, including your KYC, salary slips, bank documents, your house agreement, and the expansion layout that you want to undertake, a No Objection Certificate (NOC) by the municipal/building/ housing board. • Make sure all your plans are authorised by your local authority.

  10. What about EMIs If you apply for this loan as a top-up for your home loans, then the EMI will be added to your existing interest rate and you will have to pay only one EMI.

  11. Thank You

More Related