Home Extension Loan
Extend to meet the growing needs of your family
Download the App Now
Thinking of adding more space to your existing home for a more comfortable living environment, but worried about your budget?
You may simply enlarge your own home in utmost comfort with a home extension loan from Piramal Finance. It enables you to expand and improve your living space while keeping your money and investments safe throughout the term of your loan.
We assist you in planning, executing, and covering a variety of expenses so that you can enjoy the most convenient home extension loan procedure possible.
Minimum Age- 23 years
Maximum Age- 70 years
However, Director of listed Public companies will be treated as Salaried
Interest Rate | |
---|---|
Customer Type | Rates |
Salaried / Self Employed | Interest Rates starting from 11.00%* p.a |
Fees & Charges | |
Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate | |
Schedule of Fees & Other Charges | Details |
Processing Fees |
|
Part Payment/Pre-closure charges |
|
Loan repayment instrument dishonour charges | ₹ 500/- + applicable taxes |
CERSAI charges | ₹ 500/- + applicable taxes |
Loan Pre-closure Statement | ₹ 1000/- + applicable taxes |
List of documents deposited with the Lender | ₹ 500/- + applicable taxes |
Loan Repayment Schedule | ₹ 500/- + applicable taxes |
Change of Loan repayment mode | ₹ 500/- + applicable taxes |
"Re-scheduling Loan terms (e.g. EMI Date change / EMI increase /Lowering of Tenor" | ₹ 5000/- + applicable taxes |
No Due Certificate issuance charges | 1st time free; subsequently ₹ 500/- + applicable taxes |
Statement of Account | Free once a year; subsequently ₹ 500 + applicable taxes |
Photocopy of documents | ₹ 500/- + applicable taxes |
Retrieval of original property documents | ₹ 500 + applicable taxes |
Additional Charges | 2% p.m. on Outstanding Amount for the non-compliance of any terms and conditions of the Transaction Documents by the Borrower, for the period beginning the date of such noncompliance until the same is cured to the satisfaction of the Lender + applicable taxes |
For detailed fees & charges and other Terms & Conditions click here |
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
Application form with a recent photograph
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
The rate of interest for the same tenor for different clients can be different depending upon the combination of one or more factors listed above.
It's a loan that allows you to expand or add living space to your home, such as additional rooms or floors.
Piramal Finance offers a home extension loan to anyone who has the eligibility requirements and wants to expand their existing apartment, floor, or row house.
The Income Tax Act of 1961 allows you to deduct the principal and interest components of your home extension loan. Because the benefits may vary from year to year, please consult with our loan counselor about the tax benefits that you may be able to obtain on your loan.
Financial institutions have specified criteria for determining your ability to repay a home extension loan. Age, employment position, employment stability, and credit score are some of the primary criteria used by banks to determine home extension loan eligibility.
The duration normally runs from 5 to 25 years, and that can be chosen depending on your eligibility requirements.
The security required for a home extension loan varies by lender.