Home Improvement Loans

With HDFC's Home Improvement Loans you can now renovate your home in India for a more comfortable environment and a better quality of living.

This renovation loan facilitates internal and external repairs and other structural improvements like Painting, Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills, Aluminum Windows compound walls and much more.

• Purpose
  • External repairs
  • Tiling and flooring
  • Internal and external painting
  • Plumbing and electrical work
  • Waterproofing and roofing
  • Grills and aluminum windows
  • Waterproofing on terrace
  • Construction of underground/overhead water tank
  • Paving of compound wall (with stone/tile/etc.)
  • Borewell
• Maximum loan
  
  • Existing Customer
    100% of the cost of improvement, subject to loan not exceeding 80% of the market value of the property as assessed by HDFC.
  • New Customer
    80% of the cost of improvement. This is however subject to valuation of the property as assessed by HDFC.
• Maximum Term
  5 years subject to your retirement age.
• Applicant and Co- Applicant to the loan
  Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners.
• Adjustable Rate Home Loan
  Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
  * Conditions Apply
• Fixed Rate
• Fixed First Home Loans
  

  Under HDFC's ‘Fixed First’ Home Loans product, the borrower can avail a home loan at a fixed interest rate (options A & B) and thereafter, the loan will switch automatically to HDFC’s Adjustable Rate Home Loan (ARHL) product. This option is for customers seeking to lock in their home loan interest rates and not take risk on interest rates moving up in the initial years.

  
  
  

  Applicable Rates (Monthly Rest Basis)	Fixed rates (in % pa)
  	Option A	Option B
  Upto Rs 30 lakhs	10.75	11.25
  Rs.30.01 lacs to Rs.75 lakhs	11.25	11.50
  Over Rs.75 lakhs	11.75	11.75

  
  Under the option A of the product, the fixed rate will be available up to 30th November 2014 while under the option B the Fixed rate will be available up to 30th November 2016. After the completion of the fixed rate period, the loan will switch to HDFC’s ARHL product, linked to HDFC’s RPLR. The rate of interest applicable during the ARHL period of the loan shall depend on the RPLR at the time of the switch of the loan to ARHL.
  
  Eligibility:
  The Fixed First Home Loans can be availed of by all the customer segments - Resident as well as Non-Resident Indians and all the employment segments - Employed, Self-employed Professionals and Self-employed Non-Professionals.
  
  For detailed terms under this product please contact our offices or call on our Home Line Numbers.
  
  Kindly note: To be eligible for this special offer, customers should apply on or before
  31st May, 2012 and avail of the first Disbursement on or before 30th June, 2012.

The above rates are subject to change without notice.