Home Renovation Loan
Upgrade Your Home, Upgrade Your Life
Renovating isn’t just about making your house look pretty; it’s about real comfort, safety, and meeting your family’s practical needs. Whether it’s fixing a leaky roof or finally building that long-awaited extra bedroom, our home improvement loan makes every upgrade easy and stress-free.
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Flexible Eligibility
We assess your real income and suggest the right loan amount
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Loans for Every Need
Minor repairs or major upgrades, all homeowners get the right loan
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Repay Your Way
Flexible repayment tenure options available for your loan
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Longer Completion Window
Start and finish your renovations or repairs within 2 years
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Eligible Profiles for a Home Renovation Loan
Eligibility for Home Renovation Loan
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Criteria
Salaried
Self-Employed
Maximum Loan Amount
₹5 crore
₹5 crore
Age
21 to 60 years
23 to 70 years
Bureau Score
700+ or New to credit
700+ or New to credit
Work Experience / Vintage
Minimum 1 year in current company and 2 in total
Minimum 2 years in current business and 3 in total
Minimum Income
₹12,000+ per month
₹1.5 lakh per annum
Disclaimer: Subject to ICICI HFC internal policies
Paperwork Made Easy
How to Apply in 5 Simple Steps
Step 1: Submit Form
Fill out your loan application form online and submit basic documents
Step 2: Application Fee
Pay a non-refundable login fee of ₹3,000 onwards + applicable taxes to begin KYC and verification
Step 3: Verification & Approval
Our team will quickly check your application, assess your income, conduct other verifications like legal, technical and personal discussion
Step 4: Loan Sanction
Pay a processing fee of 0.5% - 3.0% of loan amount + applicable taxes when your loan is sanctioned
Step 5: Funds Disbursal
Your funds are released according to the actual progress of your renovation
Know Your Home Improvement Loan Charges Upfront
General
What is a Home Renovation Loan?
A home renovation loan from ICICI HFC helps homeowners fund improvements, repairs, or extensions to their existing residential property. This house renovation loan makes it easier to manage the cost of upgrades, whether you’re remodelling interiors, carrying out major repairs, or enhancing your home’s structure.
What kind of properties are eligible for renovation loans?
Home renovation loans are available for completed residential properties that the applicant owns. The property must meet ICICI HFC’s technical and legal approval criteria to qualify for a home loan for renovation or a housing loan for renovation.
Renovation Scope
What types of renovations are covered?
ICICI HFC’s loans for home improvements cover:
- Structural repairs (house repairing loan/home repair loans)
- Home extensions or additions
- Plumbing and electrical upgrades
- Flooring and wall refurbishments
Please note that movable items such as furniture or appliances are not covered under the home remodel loans or house improvement loan categories.
Is renovation on self-owned plots allowed?
Yes, ICICI HFC allows fresh construction on self-owned plots, provided the land ownership documents and construction plans are approved.
Application & Process
What documents are required for a renovation loan?
To apply for a home improvement loan or home loan for home renovation, you will need:
- Proof of identity and address
- Income documents
- Property ownership papers
- A detailed cost estimate from a certified contractor or architect
These requirements ensure smooth processing of your loan for house renovation or home repair loans.
Can I apply jointly with a family member?
Yes, you can apply jointly for a home renovation loan with a co-applicant such as your spouse or an immediate family member. Joint applications for renovation loans or home improvement loans can enhance your eligibility and make repayment easier.
Frequently Asked Questions
Still got questions? We have answered them. Select the category to explore the FAQs.
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